Bookmakers in Australia are celebrating following news that the state governments of New South Wales and Victoria could relax restrictions on advertising as early as next year.
Current restrictions prohibit bookies licensed in other Australian states from advertising in the nation’s two most populated territories. However, Rob Hulls, Deputy Premier and Racing Minister for Victoria, and Kevin Greene, Minister of Gaming and Racing for New South Wales, are said to be quickly drafting new advertising reforms that will include strict guidelines including ‘appropriate consumer protections’.
If passed, the new regulations would allow bookmakers and wagering service providers to advertise freely interstate while keeping intact present limitations on promotions from those based overseas.
“The proposed changes will create an opportunity for bookmakers in both Victoria and New South Wales to grow their businesses through advertising generally and will also provide new revenue streams for racing clubs in both states through advertising and race sponsorship,' said Hulls.
“While opening the way for advertising by bookmakers licensed in other jurisdictions, Victoria remains committed to a responsible gambling environment. We will also be proposing guidelines in relation to advertising standards for wagering service providers to ensure that appropriate consumer protection measures are included.”
Bookmakers revealed that the changes would see extra money put back into racing based in the two states although no date has yet been set for the legislation to come before either parliament.
'I've been making a lot of noise about this for a long, long time,” said Michael Eskander from Northern Territory-licensed bookies Betstar.
“It's a shame it has taken this long but now we have the avenue to put more money back into the industry. That will happen through advertising and we are very keen to do some serious sponsorship. We're already in talks with a couple of New South Wales clubs.'