Australia To Ban Bookies From Offering Sign-Up Bonuses To Punters
Gambling in Australia is a national pastime and it is no secret that Aussies are the biggest gamblers on the planet according to reports. This however has got the attention of politicians who are looking to ensure that a gambling epidemic does not spread to a point where it becomes a national crisis. Much like the UK more restrictions are being imposed on major bookies to ensure that the punters are not unfairly enticed to gamble.
One of the most controversial marketing tactics used by gambling companies to attract new punters is that of bonuses and free bets when signing up. As of June next year Australian bookmakers will not be allowed to offer huge sign up bonuses to punters which is common with the major players like CrownBet, William Hill, Ladbrokes, Sportsbet and Unibet which offer bonuses of $500 or more.
In addition to the banning of sign up bonus packages, punters will be allowed to cash out their bonus bet wins which up till now was very difficult as punters were forced to make a second bet before withdrawing.
Minister for Human Services Alan Tudge who chaired the meeting of the Commonwealth, state and federal gambling ministers explained the thinking behind the new regulations. He said,” Many Australians enjoy a punt, we want to ensure there are reasonable protections in place and that individuals can have greater control over their gambling expenditure. Today, we agreed sensible limits on inducements so that people aren’t encouraged to spend more money when they may already be in trouble.”