State governments to outlaw online lottery betting

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By admin September 11, 2017 17:04

State governments to outlaw online lottery betting

A foreign ‘fake lottery’ betting company can soon face ban in three states including Victoria, Australia. The gambling regulators have been pressurized to check and outlaw its business model. The increasing admiration of Gibraltar-based, UK, Lottoland has triggered a national campaign from various news and lottery retailers. In Gibraltar-based Lottoland, people bet on the outcomes of local and overseas lotteries.

The Australian Lottery and Newsagents Association say the campaign reflects the concerns of 4000 independent, family-owned small ­businesses. The campaign includes prime-time TV advertisements to raise the voices.

Lottoland has been linked to a major dip in tax revenue from local lotteries. Over the next 3 years, more than $90 million has been wiped off the state’s forecasts. The ways to outlaw the practices have been already started in South Australia. Following South Australia, West Australian and Queensland governments too are considering different ways to outlaw the practices.

Lottoland website pays an annual $500,000 registration fee to Northern Territory. The website relies on complex insurance-linked securities to pay the lucky winners. Adam Joy, the chief executive of Australian Lottery and Newsagents Association, said that the campaign was in response to a number of Australian lottery players who were “very confused” about the betting model. Many Australian Lotto players think they are entering and playing a lottery. Joy said, “We have had positive engagement from both federal and state governments about the impacts of lotto betting on small businesses and their communities.”

Above all, news and lottery agents yesterday kicked off a grassroots campaign to resist Lottoland’s “aggressive targeting” of their livelihoods. On the other hand, Lottoland Australia Chief Luke Brill termed the attack made by newsagent and Tatts Group as “monopolistic behavior.” Brill also said that the company has already informed customers that they were not entering a traditional lottery.

admin
By admin September 11, 2017 17:04
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