AGA and Clubs Australia to partner against illegal gambling

Sunday 8th of November 2015

Clubs Australia and the American Gaming Association (AGA) have committed to forming an international alliance to tackle illegal gambling. As part of the partnership, both parties will collaborate to raise awareness of the risks of illicit gambling websites, provide details of illegal operations to their respective governments and call on them to ramp up efforts to curb these companies activities.

It is estimated that US and Australian residents currently spend $4 billion and $1.2 billion respectively each year on illegal overseas gambling websites, depriving those governments

of tax revenue and employment, while increasing the risks of money laundering and terrorism financing.

Clubs Australia will also call for moves to ensure that Australian financial institutions that facilitate transactions with illegal operators put a stop to the practice.

Separately, an Australian senator from the state of Victoria, Bridget McKenzie, has suggested using the banking system to prevent Australians from wagering with international online gambling sites not holding an Australian betting license.

McKenzie also wants the federal government to include a 0.05 percent tax on all wagers placed on Australian sporting events as part of its ongoing taxation review. McKenzie told the Guardian Australia that “the current legal framework doesn’t provide the outcomes we need” from the betting industry.

Citing concern that sports betting was the fastest growing industry in Australia yet faced minimal taxation, McKenzie says her plan would see a uniform tax applied to the gaming industry, with revenue to be distributed across the states that currently regulate the industry, according to the Guardian. Some revenue would be reserved for regional development projects and for harm minimization programs.

Sports Betting Partnership Tax Illegal Gambling Turnover