There's been a recent pushed from leading wagering companies to ensure a fairer and harmonised approach to gambling regulations. Jamie Nettleton, Partner at Addisons joins us to discuss; welcome Jamie.
Thank you Jacqui it's lovely to be here.
So in summary what is the current approach?
There's intense competition which exists between the wagering businesses, but this is through a history of very prescriptive regulation that occurs from state to state where there is a different approach that's been adopted in respect of responsible gaming measures, tax regimes and in fact all areas of regulation and that's given rise to a lot of inconsistency in respect of the rules that apply to the wagering sector.
And what changes are wagering companies asking for?
Well last week there was a call that came from TABCORP for fairer wagering rules to apply insofar as they considered that there was unfavourable treatment being applied to them in respect of higher taxes being paid by them and not being paid by the corporate bookmakers. This is essentially rejected by the corporate book makers who indicated that those higher rates which are payable by TABCORP were reasonable when it took into account the retail exclusivity and other exclusive rights which were conferred on the TABs in each of their states.
And are these changes achievable and what would they mean for the gambling industry?
Well I think in respect to the tax regimes the difficulty that exists that there is exclusivity that's been conferred on TABCORP in respect of either off course wagering or retail betting and of course insofar as there is some form of exclusivity and payments have been made for that exclusivity it's difficult for there to be a level playing field in respect of all operators. However there are other areas in which it's been suggested that there is not a level playing field but indeed the trend that has occurred over the last five to six years is that payments now being made by corporate bookmakers in respect of product fees where those payments were not previously made.
A really important area for wagering companies, Jamie thanks so much for discussing it with us.
Thank you very much.
That was Jamie Nettleton, Partner at Addisons. Listeners if you have any questions for Jamie you can send them through either using on the panel on your screen or by sending an email to email@example.com.