Betfair Australia Calls for Tight Controls - 12-09-09

December 9 - The Chief Executive for Betfair Australia, Andrew Twaits told a Productivity Commission hearing that controls are needed on the industry.

Twaits told the hearing that there are no guarantees that allowing online gambling companies to operate more freely in the industry would not lead to an increase of problem as well.

"I can't' sit here and tell you that there won't be more problem gamblers created through online gaming or online wagering," he said in Melboune this week.

"I think what we as an industry need to do is to provide the safest platform we possibly can."

"Having the right sort of safeguards in terms of loss limits and deposit limits is the best way of preventing problem gambling," he said.

Australia is in the process of investigating the possibility of liberalizing its online gambling industry.

The Productivity Commission suggested to the Federal Government in a draft report that it "initiate a process for the managed liberalization of online gaming."

Since then, the Commission has been hearing the comments and suggestions of interest groups, including a number of top operators.

The Australian nation is clearly ready for a change in its laws. Gamblers from this country spend nearly $800 million each year at gaming sites abroad.

Operators are not allowed, under current law, to offer their products to Australians.

"Clearly the vast majority of consumers want to engage or they are engaging in poker in pubs and clubs... online gambling is just another channel of distribution," said Twaits.

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