Australian state to ban live odds advertising
New South Wales deputy premier Troy Grant announces plans to prohibit the promotion of in-play odds during sporting events
New South Wales (NSW) will become the first Australian state to ban the advertising of live betting odds during sporting broadcasts, the stateâs deputy premier Troy Grant has announced.
A ban on the promotion of in-play prices will come into force on 1 March 2016 and operators found to be in violation could face fines of up to AU$55,000 (£25,700) per incident.
The regulatory changes, announced on Saturday by the The Nationals MP, will include live NRL, AFL and football broadcasts of four hours or less, on both TV and radio.
âThere is no doubt the sports betting market is becoming increasingly competitive as operators aggressively chase market share through promotions, so itâs important that regulation moves with the industry,â Grant said.
The prohibition of advertising live odds in NSW comes just weeks after the Australian federal government announced the launch of a review into the countryâs offshore wagering market.
The report, conducted by the former Premier of New South Wales Barry OâFarrell, is rumoured to be a de facto wider review of Australiaâs Interactive Gambling Act (IGA) and operators have been invited to submit their comments on its key issues for the first time.
In other regulatory news, the South Australia Independent Gambling Authority (IGA) last month unveiled proposals to ban the offering of unsolicited credit for gambling as part of a wider crackdown on sports betting operators.
The plans to overhaul South Australiaâs Gambling Codes of Practice came after a recent report criticised operators for allegedly offering unsuitable customers tens of thousands of dollars in credit.