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  1. #1
    The Buzz's Avatar
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    Default Credit betting ban, new taxes may drive William Hill out of Australia

    William Hill told the London stock exchange on Monday that betting volumes were shrinking in Australia, and that it would be "undertaking a strategic review of our Australia business."

    From Brisbane Times:

    The popularity of digital sports-betting has been exploding in Australia, growing by more than 10 per cent a year. Many of the world's biggest and best-known bookmakers, including Paddy Power Betfair, Ladbrokes, William Hill and Bet365 have moved into the market, making Australia one of the most competitive wagering markets globally.

    But the country's online-only bookmakers have been facing an escalating political backlash, with concerns about excessive advertising and problem gambling prompting a wide-ranging package of reforms, including a ban on offering "free bets" or extending lines of credit to punters.

    Several Australian state governments have also moved to impose a 15 per cent "point of consumption" tax, following concerns that internet and app-based betting companies do not face the same hefty taxes imposed on the country's licensed retail providers.

    The new tax means that, for the first time, the state where an online bet is placed will receive revenue on gambler losses.

    "Given the credit betting ban in Australia and the likely introduction of a point-of-consumption tax in a number of states, it is clear that profitability will increasingly come under pressure," the company told the stock exchange.
    Read more here:

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  3. #2
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    There are just too many gambling rules, regulations and restrictions that are put in place these days against gambling.

    There should certainly be less restrictions. I mean, it's 2018 and we're barely halfway through the month of January.

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  5. #3
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    Quote Originally Posted by vtyunby65 View Post
    There are just too many gambling rules, regulations and restrictions that are put in place these days against gambling.
    What? You haven't figured it out yet!
    Aside from advancing credits to punters, and advertising (the AU Gov., must been seen to be doing something), the rest of this issue is all about lost tax revenue.

    Your in Australia, I thought you'd have known that gambling winnings are not taxed, unless your a professional gambler. Winnings from casual play must be declared but, and reiterating, they are not taxed. Don't be surprised if the Fed Gov., doesn't change that tax law soon. Seems the AU Gov., like most others in the world, will put anything into law if it fills their coffers.

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  7. #4
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    William Hill took over Centrebet - rebranded it as their own - and have butchered the functionality and offerings.

    Centrebet was an early beacon for online betting in our region - it used to be my main account. I never use it now.
    In fact this thread has prompted me to go and close my account.

    If what happened to centrebet is an example of their business model then no wonder William Hill's own betting volumes are diminishing.
    Aussies and Kiwis are still betting - just not with Will Hill.

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