Missing Out on Millions

In Australia, there is currently an all-out prohibition against local gaming operators.

A recently released report in Australia (called ‘Online Gaming: A Gamble or a Sure Bet?) claims unsurprisingly that the government is potentially missing out on millions and millions of dollars it if does not relax its position against the online gambling market. In 2008, it is reported that as a result of the Aussie players spent about $790 million in an underground economy to play at online poker rooms and online casinos at offshore sites. The report also predicts that the global online gambling market will simply explode and double by 2012 thanks to the technological advances in mobile phones, internet connectivity and other handheld devices. This is all food for thought for the Australian government and KPMG, who produced the report, calls on the government to have a serious rethink. Australia is apparently one of the biggest markets that currently prohibits online gambling. If Australia was to be involved in the market, it could benefit from the huge revenue that its currently missing out on.