Tabcorp wants live betting federally regulated

David Attenborough, chief executive of the Australian betting group Tabcorp, says that live betting on sports is here to stay, and the federal government in Australia needs to do more to regulate it.

Attenborough was speaking to the American Chamber of Commerce in Australia when he made the call Friday, revealing that the federal government was examining the issues of broadcasting odds during live events and the provision of live betting over the internet, among other matters.

Currently, consumers can bet on live sporting events over the phone but not over the internet.

“Despite this prohibition, a number of wagering operators have offered live online betting to their Australian customers,” Attenborough claimed without naming names.  “We are not aware of any of these operators being prosecuted for breaching the Interactive Gambling Act.”

Attenborough distinguished his company from such operators, saying that Tabcorp complied with the law, but was disadvantaged in so doing by competitors who appeared to defy gambling regulations with impunity.

It was therefore necessary for the federal authorities to introduce consistent national laws that would provide a level playing field for all companies involved in the Australian betting industry, he opined, adding that betting on sports was becoming “part of everyday entertainment.”

This trend was boosted by advances in technology, especially in mobile devices, which made all transactions, including wagering and exchanging information, easier and faster, he said.

The Tabcorp executive revealed that his group would at some future stage like to enter Asian gambling markets, but due to complexities in culture, religion and law it may be a better idea to follow rather than lead.

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