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It takes an Aussie to say, of gambling, that “It’s a bit like sex: everyone thinks they’re good at it but not many people are.”

But that isn’t actually the reason I was drawn to Max Presnell’s article in yesterday’s Sydney Morning Herald.

Rather, I thought it interesting for two things.

First, because, at last, someone, somewhere in the world, who can be considered part of racing’s older guard has recognised that the biggest threat to racing is from competitive product.

And second, because of the line that says, “the Australian Productivity Commission estimates Australians gamble some $800million on online poker and casino”.

If anyone wants proof that prohibition is a waste of time, this is it. It is clearly, explicitly, 100% illegal to gamble online on poker and casino products in Australia. The Interactive Gambling Act 2001 makes all online gambling illegal unless it is covered by Section 8A, which explicitly allows wagering on sports and horseracing.

So that $800million is money gambled and not taxed, and lost to Australia.

Someone explain to me how that makes sense.

Posted in Australia, Betfair.

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