People got used to the many ads popping on television, radio or other digital sources in terms of gambling. Well, this is no longer allowed due to the tighter regulations set by the government. Tabcorp, which is entirely based on online sports and horse racing betting will suffer tremendously given the new regulations. Promotions that are somehow related to gambling or betting in any way will be entirely banned. Even though punters considered these ads extremely helpful, they are now unavailable. Chasing expected losses is no longer considered ethical, and live betting encourages impulse betting. This is the main reason why the NSW Government makes active efforts to reduce the harm of gambling ads.
Third-party marketing or social media are also included in this category and carefully analyzed by the NSW Government. All sorts of international gaming and wagering businesses will be directly targeted by the legislation of the country. Not respecting the new regulations will lead to serious consequences such as fines or even criminal convictions, in extreme cases. All corporate bookmarkers will face a major breakdown considering the fact that they can no longer attract new clients through media and advertising. Newspapers who included special categories for gambling bets will have to cut them down while racing broadcasters might remain out of material to present.
Famous publications like The Daily Telegraph or Herald Sun who previously dealt with wagering advertising need to renew their content based on the new rules. The Principal Racing Authorities also consider that the impact of such legislation changes could affect their media rights. Numerous wagering operators are entirely based on advertising and such a dramatic change could restrict many of their actual possibilities. In addition, directors and senior managers are directly liable for any offense committed.
Because of the mass ban of gambling advertising, many people started to worry about the future of the industry they are working in, the reason why they addressed their issues to the Government, waiting for a response. Yet, the NSW considers any gambling ad against the law and will treat it accordingly. The penalties are substantial and difficult to ignore, starting from$5,000. The directors of various wagering companies are still unpleased with the lack of communication between the government and the industry itself. Colossal names such as bet356, Betfair or Unibet are suffering the consequences of this decision. They continue to sustain that a consultation considering these major changes would have been required beforehand.
The regulatory environment set by the NSW government affected the wagering industry. The television audience was entirely captivated by betting ads, the reason why it is difficult to ignore the aftereffects of this decision. The NSW Government decided to include new regulations during the upcoming weeks. RWA stated that they accept any regulations coming from the NSW Government as long as it takes into consideration the implications they have upon digital platform advertising, broadcasters and national publications. Racing.com or Best Bets could end their activity because of the on-going process, so having regard to all points of view is absolutely paramount in the present situation.