Sports

Introduction to Rules & Regulations For Betting in Australia

Betting online for sports and racing has seen an explosion in recent times with a number of new operators and betting sites emerging. With so many operators in the market, who should punters use? How do punters ensure their money is safe?

Placing a bet has always been a popular pastime in Australia dating back to the early 1800s. The major thing that has changed is how bets are placed. Bookmakers dominated the industry in the early days with the black market “SP Bookmaker” prominent. This was unregulated and dangerous for everyone involved.

Totalisation was introduced by the government and this gathered taxes and regulated the industry. While this was an improvement, punters needed to visit a TAB or Pub TAB to place a bet and the large quantities of cash on hand posed a security risk.

Technological advancements in the late 1990s have led to the online betting revolution. Bets can be placed 24/7 on sport and racing from all over the world. All from the comfort of home.

Is it Legal to Bet in Australia?

It sure is! Not only is it legal, but it can be a lot of fun as well! Online Betting in Australia is legal if it is done with a licensed operator. There are a multitude of bookmakers to bet with and betting can be done on sports, racing and fantasy sports. It is illegal for Australian companies to have online casinos with “Interactive Gambling” which are games of chance. This is an important distinction.

On What Can You Bet on in Australia?

Betting in Australia is legal if it is done with a licensed operator. There are a multitude of bookmakers to use with the majority of them having online platforms to use. Here are the three types of betting that are legal through a licensed betting site in Australia.

Racing Betting

Online Racing Betting has a rich history in Australia and remains popular. Horse racing, harness racing and greyhound racing take place every day of the year except Christmas and offer different bet types such win, place, each way and various exotics such as quinella, trifecta, quaddie betting. Multi bets on racing have become popular and provide an opportunity for a good collect from a modest investment.

Sports betting

Sports betting in Australia has grown at a rapid rate and is generating a great deal of interest. It is a way that sports lovers can add some excitement into their viewing and with high quality sport around the globe 24/7, there is always something to bet on! Betting sites in Australia offer a number of markets on a variety of sports with cricket, AFL and NRL popular.

Fantasy Sports

Fantasy Sports betting is another new betting concept and is growing swiftly in popularity. It involves creating a “Fantasy Team” that competes against other “Fantasy Teams” in the hope of winning prize money.

What Betting Practices Are Prohibited in Australia?

Australian Government legislation makes it illegal for Australian companies to own or operate online casinos with “Interactive Gambling”.  Interactive gambling involves games of chance such as poker, roulette and blackjack to name just a few. Betting “Live” on sports in Australia via the internet is also illegal, however bets can be placed via telephone on sporting events when they are in progress.

Who Should You Bet With?

Before placing a bet in Australia, there are some steps to take to ensure that your money is safe and secure:

  1. Is your bookmaker licensed and guaranteed by a reputable authority?
  2. Does your bookmaker have a proven history and track record?
  3. How are the bookmakers’ reviews?

Third generation Australian bookmaker Palmerbet ticks all three boxes! They have markets on all sports and offer fantastic prices. Their blog is a great source for free expert racing tips, horse racing betting previews and up to date betting odds as well as the all-important Racing tips.

Visit the website at Palmerbet.com or download the Palmerbet app via the app store and start betting today.