The Australian Independent Gambling Authority (IGA) is determined to incorporate new rule in their new proposed set. The rules will see the banning of granting spontaneous credit to clients by online betting operators based in South Australia.
If the rules are activated, betting operators will have a hard time in having to undertake thorough checks on the credits they offer to their clients. This will be followed by a faster mode of withdrawal process with the discloser of spotter fees being incorporated too.
In any way the operators go against the new law, a fine of A$100,000 will be waiting at their door steps. This goes to the 19 licensed betting firms which offer the service and have over 74,000 registered accounts.
The Minister for Business Services and Consumers Gail Gago claimed that the new proposed rule came to being in August after a report by Financial Counseling was adamant to have an in-depth analysis on how betting sites have been offering credits to their clients.
She claimed that more often than not, these betting sites have been offering their clients with huge sums of money without considering the status of a client if he or she can be in a position of repaying it. It was also evident that there were special clients who acted as agents in luring other customers into various betting offerings with credit among them.
Ms. Gago hopes that the law would be enforced ASAP in attempt to rescue exclusive gamblers. At the same time, the IGA has accorded the betting operators to respond to the law in 28 days after which the lawmakers will enforce it and by 2016, it would be fully functioning.
TheDirector of the IGARobert Chappell commented that they are considering the report and that the seductive aspect of these online betting firms have portrayed a great threat to bettors who give in to their demands without having a second thought. He continued to claim that there is a high possibility of incorporating the proposed law as it forms the basic value and awards a bettor a freedom of choice. This would also change the behavioral pattern of these betting sites.
This article is published in: Secure betting
Tags: online gambling
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