Online Credit Crunch in the Aussie Online Gambling

By Debra SaundersGoogle
William Hill’s deal on the online gambling market in Australia has barely seen the ink dry out on their recent take over and already the politicians are driving a wedge in the online gambling market place in one of the hottest nations for having an eye for a good punt.

Senator Nick Xenophon has revamped his press release referred to as ‘Sky is Falling’ to make it illegal for the online gambling companies in Australia to allow punters credit on their accounts. This was a blow for some companies that make a nice profit out of their credit plans, but at the same time the credit plan wasn’t in too much danger with only one senator making a play at getting what is an alluring feature for online punters struck off the online gambling sites’ list of incentives. However, things have taken a turn for the worse if you happen to be an online gambling creditor or debtor.

Xenophon is now being backed up by Tony Abbot his opposition, or at least Abbot is now also adding a new plan to what is already a long list of restrictive policies. Recently it was announced that Tony Abbot will also plot to cease online gambling entities to offer their clientele the option to make bets and play casino games using credit. If Abbot’s Liberal coalition party gets in after next month’s federal elections results are settled it almost certainly spells the end of what has been a convenient deal for many of the online players and for the online casinos themselves.

Abbott, as with any politician, came out with the statement backed up by a case that had obviously found its way to his desk one morning regarding an incident in 2011 with Paddy Power’s Australian online gaming business. A punter, who clearly had a gambling problem, was offered an $80,000 credit line. In that particular case the Paddy Power punter blew the lot over the course of a week. It turns out the avid better couldn’t return what he had borrowed and the gambling company’s Sportsbet division then proceeded to sue the man, who owned his own house and it was his humble abode that was at risk. However, in the end the Sportsbet didn’t end up pursuing the case as strongly as they originally intended and allowed the debt to be forgiven.

It is one of the worst online gambling cases ever, and there are not many like it if any at all, but Abbot has done what every other politician likes to do, and that is play out the worst case scenario and make it out like it is common place. It’s reminiscent of the cry for war in Iraq using the letters WMD and the words Weapons of Mass Destruction to get everyone’s attention. Not once did the governments waging war on Iraq mention there may in fact not be WMDs in Iraq and not once did Abott mention that the Paddy Power client’s debt was forgiven.

Anyway despite the retorts of this news post, far be it from me to commend credit to gamble with. Credit has always been a line of action for something important like new furniture or you kids school, so it is probably not advisable to get into to debt over gambling and it wouldn’t be hurting anyone, and in fact probably helping a few people, by banning credit to gamble. I suppose the reason for this outburst is that it’s just an opportunity to express my disappointment in the way politicians present their facts. These people are supposed to be running countries, so when will a time come when can we trust them to give us the middle ground rather than decorating their arguments to fish out support for their policies?

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