Offshore Internet Gambling Expected in Australia

AUSTRALIA – As reported by the Australian: "The nation's gaming giants are expected to lose their fight to prevent offshore internet gambling, with the Howard Government tipped to allow international competitors.

"The decision could revolutionise the industry by allowing offshore betting exchanges to become licensed in Australia.

"Gambling industry sources have told The Australian that John Howard is likely to announce the Government will not alter the Interactive Gambling Act.

"…In a clear demonstration it is preparing for increased competition, the NSW TAB has registered its own betting exchange trademarks.

"…Graham Cassidy, a spokesman for the TAB, conceded that the company would introduce its own betting exchange.

"…The Interactive Gambling Act, which came into effect in October 2001, provides an exemption for internet betting exchanges to operate in Australia, the most prominent being the London-based Betfair, which began operating on Australian events in early 2003…"