Regulation of Australian Bookmakers

[scruffy]

Hi guys first post here so Hello! I am based in the UK so hold accounts with the likes of Ladbrokes, Hills, Stan James etc but I also like to use Australian Bookies due to their coverage and limits of Australian sports.

I'd be interested to learn more about the regulation of Bookmakers in Oz, I have always assumed that because many are regulated by the Goverment, your funds are about as safe as they are going to be in a Bookmaker. Does anyone know of a link where I can read more about this? I understand many Bookmakers are required to keep client's funds ringfenced but I believe this differs between territories.

Whilst I have heard of an also experienced plenty of problems with Bookmakers based in Jurisdictions such as Malta, Central America etc I have only ever heard of ONE issue with an Oz Bookie which was Sportsalive.

[admin]

Hi scruffy,

Bookmakers in Australia are licensed in specific states. Most states have a good reputation for regulating bookmakers safely. The one exception is the ACT (Australian Capital Territory) - the state that Sports Alive was licensed in.

Most Australian bookmakers support overseas customers, although many only provide sign up bonuses for Australian residents. It is not uncommon for bookmakers to have higher turnover requirements for international customers as well.

In terms of Australian bookmakers that are suitable for overseas punters, some that spring to mind are:

Sportsbet and IASbet
These are owned by Paddy Power, with IASbet being a subsidiary of Sportsbet. They offer the same markets and odds as each other, but different promotions. Sportsbet is certainly the bigger brother of the two, with more competitions and odds promos.
Sportingbet Australia and Centrebet
These are owned by Sportingbet plc. The primary drawback from a UK perspective is they only support AUD accounts. Like Sportsbet and IASbet, they offer the same markets and odds but different promotions. Sportingbet is the bigger brother of the two, having acquired Centrebet in 2011. Sportingbet's sign up bonus is only available to Australian and New Zealand residents while Centrebet's bonus is only available to Australian residents.

Other major Australian bookmakers include TAB Sportsbet and Luxbet, both owned by Tabcorp, an Australian ASX listed company. Unlike the other major online bookmakers, TAB has a physical presence with retail outlets across Australia. They don't offer as competitive odds, although they have a reputation for accepting larger stakes and their odds are often in contrast with other bookmakers. Luxbet is TAB's latest brand. Their sign up bonus is only available to Australian residents and they have a reputation for banning successful high stakes punters.

The services above are all safe to bet with. Sportsbet and IASbet are arguably the best suited to your needs. They are licensed in the Northern Territory:
http://www.nt.gov.au/justice/racingc...ion/index.html

Hope that helps, let me know if you have further questions.

[scruffy]

Cheers for that it was the difference in the way various states regulate I was interested in and as you point out the ACT is the questionable state.

Centrebet don't allow UK customers anymore (this was fairly recent) but interestingly Sportingbet AUS do.

I already play at TAB and, in fact they are probably one of my favorite Bookmakers. I can concur with you that they will take a large stake and very often seem to take an opinion on a market.

Strangely, I recently enquired to Unibet Oz but they told me that due to strict regulations they can only accept Australian residents which I considered strange as I have a fair number of accounts at various Oz bookies.

[admin]

It is strange that Unibet.com.au only accept Australian residents. They are licensed in the Northern Territory so I doubt it is for regulatory reasons. Most likely that restriction has been imposed by Unibet head office who wish to segment their brands geographically.

[scruffy]

It is strange that Unibet.com.au only accept Australian residents. They are licensed in the Northern Territory so I doubt it is for regulatory reasons. Most likely that restriction has been imposed by Unibet head office who wish to segment their brands geographically.

I agree, either that or the customer service agent is confused. Still, plenty more bookmakers out there.......