SBC News Voice of the Sports Betting Industry
Andy McCue CEO designate of Paddy Power has urged for changes to Australian laws and regulations concerning Australian online sports betting.
Paddy Power owners of Australia’s largest online bookmaker – Sportsbet.com.au have asked for a review of sports betting policies focusing on allowing in-play betting. Speaking to the Sydney Herald, McCue stated that the Australian market was inconsistent with regards to in-play sports betting, as consumers could still bet in-play via betting agencies and call centres.
Sportsbet.com.au Chief Executive Cormac Barry wants the issue to be made a priority ahead of the 2015 Cricket World Cup and the AFC Asian Cup, major sporting events that will be hosted in Australia.
Cricket and football have already been embroiled in match- and spot-fixing scandals, and wagering operators like Sportsbet argue that the risk of corruption is exacerbated by unregulated betting, particularly in Asia. The Productivity Commission has estimated that Australians spend $1 billion a year on offshore betting.
“The risks to integrity are really driven by [the] offshore betting market,” Mr Barry said. “There is increasing awareness that the Interactive Gambling Act is outdated and needs to be updated.”
Andy McCue, has spent the past week investigating the Australian sports betting operations of Paddy Power and Sportsbet.com.au, Paddy Power had outlined in previous months that it viewed the Australian sports betting market as a key area for future corporate growth.
