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Potential Deposit Limits: What This Could Mean For Australia's Entertainment Industry, Reports Lucky Nugget Casino

SYDNEY, April 10, 2013 /PRNewswire/ --

Commonwealth government set to bring in new gaming regulations to reflect the increasing popularity of online gambling

The federal government in Australia wants to make it compulsory for online gamblers to set their own deposit limits in advance, reports Lucky Nugget Casino. In addition to the proposed extension of pre-commitment technology to online gambling, the government also wishes to set stricter rules about the type of inducements and lines of credit that can be offered by online gambling operators.

The proposed measures are part of a national harm minimisation and consumer protection standard for all licensed online gambling activities in Australia. Stephen Conroy, the Communications Minister, has written to the states and territories to ask for their assistance in implementing the standard.

In an official statement, Mr Conroy said "As the way Australians use gambling services shifts online, we need to ensure that protections for consumers remain robust and relevant"

However, the government will not be following the recommendations of a departmental review to pursue changes to the trial of in-play sports betting or online tournament poker. The final report also recommended the licensing of overseas online gambling sites in Australia, on the condition that national harm minimization measures are adopted.

Australia has one of the highest rates of gambling in the world, with over 80% of Australian adults engaging in gambling of some kind. It is a significant source of tax revenue, with an estimated $15.8 billion being raised nationwide from all forms of gambling in 2008-9, according to a report by the Productivity Commission. Gamblers winnings are not taxed in any way - rather, it is the operators themselves that are taxed on player losses and net profits. Additional revenues come from license fees that have to be paid in order to legally offer gambling services.

In the past, the Australian gambling industry has been largely regulated by the State and Territory authorities, such as the Office of Liquor, Gaming, and Racing in New South Wales and the Tasmanian Gaming Commission. However, since the introduction of new gambling services, including online gambling, the Commonwealth has taken a more active role in the regulation of gambling.

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