South Australia proposes online gambling regulations overhaul

Online gambling operators may be banned  from granting unsolicited credits to their customers in South Australia.

Under new regulatory changes proposed by the state’s Independent Gambling Authority (IGA) to the SA Gambling Code of Practice, credit should only be offered after a thorough due diligence process. In addition, gaming companies will also have to immediately process withdrawals from gaming accounts and will have to disclose the so-called spotter’s fees.

Operators who breach the code will face fines of up to $100,000.

There are a total of 19 licensed online gambling companies offering services within South Australia’s borders with 74,000 registered betting accounts and Minister for Business Services and Consumers Gail Gago said that the proposed changes were prompted by a report published by Financial Counselling Australia in August, stating that online betting agencies engaged in somewhat questionable practices concerning the offering of credits to customers.