Tweet
By GARRY BARKER
TECHNOLOGY REPORTER
Tuesday 4 July 2000
Two new gaming websites run by the Federal Group, operators of Hobart's Wrest Point Casino, will operate today.
Although Australians won't be able to play for money on the websites, the Federal Group hopes they will boost Tasmania's bid to become the online gambling capital of Australia.
Federal's chief executive, Greg Farrell, said it was not wise to attract too much attention given the Federal Government's intention to impose a moratorium on Internet gambling.
"Until there is more certainty within the Australian regulatory environment, we felt (it better) not to stir the pot by accepting Australian cash bets," he said.
Mr Farrell said online gambling could become a major earner of export income and would create badly needed Tasmanian jobs.
"Our only real concern at the moment is the Federal Government's stated intention (to impose a moratorium on Internet gambling) in the spring session of parliament," he said.
The potential for online gambling businesses in Australia was relatively small, Mr Farrell said. "We don't see online sites competing effectively with land-based gaming opportunities. The real potential for us is in the overseas market, providing trustworthy online gaming opportunities to countries with high levels of technology uptake but no ready access to casino-type products."
The three sites now running from Australia were the only regulated online casinos in the world, he said. "But the UK, Canada and South Africa are considering establishing a regulatory environment similar to ours."
Stringent government control ensured Australian sites operated honestly, he said.
Federal's two sites operate under a licence issued by Tasmania in 1998, one of four so far granted by that state. The other operators, who have yet to open their virtual casinos, are TabCorp, Tattersalls and PBL's ecorp.
Two other online casinos operate in Australia, of which Lassiters, in the Northern Territory, is the oldest and best-known.
Mr Farrell said he would have a better idea of the size of profits and returns to Tasmania in six to nine months.
"But we believe it is very large," he said. "Lassiters in the last financial year turned over $100 million. That's not revenue, but what they handled, of which they might have held 5 per cent. But they expect four or five times that in the coming year. Our potential would be in the same area, and we have two sites to their one."
He said online gaming had more controls than any other form of gaming. Players could not gamble on credit but had to establish a cash account with the casino. Checks were made on players to bar under-age gamblers. Players could pre-set the amount they wished to risk and "if they feel they have a compulsive problem, they can bar themselves for a week. If they bar themselves more than three times they are excluded forever."
TECHNOLOGY REPORTER
Tuesday 4 July 2000
Two new gaming websites run by the Federal Group, operators of Hobart's Wrest Point Casino, will operate today.
Although Australians won't be able to play for money on the websites, the Federal Group hopes they will boost Tasmania's bid to become the online gambling capital of Australia.
Federal's chief executive, Greg Farrell, said it was not wise to attract too much attention given the Federal Government's intention to impose a moratorium on Internet gambling.
"Until there is more certainty within the Australian regulatory environment, we felt (it better) not to stir the pot by accepting Australian cash bets," he said.
Mr Farrell said online gambling could become a major earner of export income and would create badly needed Tasmanian jobs.
"Our only real concern at the moment is the Federal Government's stated intention (to impose a moratorium on Internet gambling) in the spring session of parliament," he said.
The potential for online gambling businesses in Australia was relatively small, Mr Farrell said. "We don't see online sites competing effectively with land-based gaming opportunities. The real potential for us is in the overseas market, providing trustworthy online gaming opportunities to countries with high levels of technology uptake but no ready access to casino-type products."
The three sites now running from Australia were the only regulated online casinos in the world, he said. "But the UK, Canada and South Africa are considering establishing a regulatory environment similar to ours."
Stringent government control ensured Australian sites operated honestly, he said.
Federal's two sites operate under a licence issued by Tasmania in 1998, one of four so far granted by that state. The other operators, who have yet to open their virtual casinos, are TabCorp, Tattersalls and PBL's ecorp.
Two other online casinos operate in Australia, of which Lassiters, in the Northern Territory, is the oldest and best-known.
Mr Farrell said he would have a better idea of the size of profits and returns to Tasmania in six to nine months.
"But we believe it is very large," he said. "Lassiters in the last financial year turned over $100 million. That's not revenue, but what they handled, of which they might have held 5 per cent. But they expect four or five times that in the coming year. Our potential would be in the same area, and we have two sites to their one."
He said online gaming had more controls than any other form of gaming. Players could not gamble on credit but had to establish a cash account with the casino. Checks were made on players to bar under-age gamblers. Players could pre-set the amount they wished to risk and "if they feel they have a compulsive problem, they can bar themselves for a week. If they bar themselves more than three times they are excluded forever."