Victoria And Tasmania Pass New Gambling Regulations

Tasmania Implementing New Regulations on Pokies

The Tasmanian government has recently announced new gambling regulations that will put stringent restrictions on pokies players in the region. The gambling minimization plan will institute a pre-commitment system that will require players to use cashless gambling cards.

These new cards will also impose strict limits on players. Players are subject to a daily loss limit of AU$100 on pokies across the state. There will also be a monthly limit of AU$500 and an annual limit of AU$5,000. It is possible to have these limits raised, but players must prove that they can afford to lose more money, including proof of how they came about their funds.

This system benefits both players and the casino. For players, it helps to limit the amount of money they can lose over each gambling session. It also helps to curtail problem gambling by setting strict monthly and annual limits.

For the casinos or pubs offering pokies, this program helps to curtail both money laundering and criminal activity. Both of which are issues that have led to increased gambling regulation across the nation.

The big question by some opponents is whether the limits are even necessary. Studies are showing that the average loss on pokies each year is around AU$3,600. However, the is evidence to show that players lose around AU$200 per day, so this measure will help to curtail those numbers.

The new system is expected to be in place by December 2024. Casinos and pubs have until then to become compliant.

Victoria Passies Casino Legislation Amendment Bill

Most of you are aware of the Royal Commission investigation and subsequent findings against Crown Resorts. The findings have led to outcries for increased regulation against the casino. The first of those gambling regulations was passed earlier this week.

Under the new Casino Legislation Amendment Bill, multiple changes will occur in business operations at Crown Melbourne. The biggest changes will impact players. By the end of 2023, Crown Melbourne must institute a pre-commitment system for pokies. The casino will also be implementing wagering limits on players. Players can only wager up to AU$1,000 per day.

Additionally, cashing out will become a bit tougher for big winners. If players win more than AU$1,000, an identification check is necessary. This is a clear change that is meant to address money laundering issues with Crown Melbourne.

The next set of regulations addresses casino management. Combating a managerial culture of impropriety, the new regulations require that accountability is to the casino operator rather than the parent company or an individual primary shareholder. The same is true for board members.

Also, gone will be the days of individual shareholders holding significant portions of the casino without oversight. Now, anyone wishing to hold a 5 percent stake or larger in the casino must receive approval from the Victorian Gambling and Casino Control Commission (VGCC).

Additional Regulations Expected

The recent regulations from Victora and Tasmania are just the first of many changes. Victoria is already committing to additional regulations, many coming by the end of 2022. Other regions are currently exploring how to further regulate the live gambling industry.

For those that are wanting to know the status of online gambling, pay close attention to what happens over the next year. It is unlikely that we will see any movement on online regulation as long as live regulation is still under consideration. Once live casinos can prove they can operate honestly, then we can expect movement on the online issue.