Online poker games are set to go online for the first time next year, with some poker chips on sale at a discount to their brick-and-mortar counterparts.
What’s the best way to bet online?
Read moreThe online gambling industry, which is worth $7.3bn globally, is growing at an impressive rate, with revenue growing 7% year on year to $738bn in 2016, according to the Australian Gaming Commission.
The latest figures for online gambling show that the total value of online poker chips at Ballymore in Sydney is expected to reach $1.4bn by 2021, compared to $1bn at its peak in the early 2000s.
But the popularity of online gambling has been falling in recent years, with the number of Australians gambling in the game down by around 5% between 2016 and 2017.
While online poker has been around for a long time, the boom has seen the industry come under increased scrutiny from regulators.
In January 2017, the Australian Competition and Consumer Commission announced it would investigate whether online poker was misleading customers about the legality of their bet.
That same month, the Federal Government launched a crackdown on gambling in Australia, with a ban on online gambling across the country and the establishment of a supervisory body called the Australian Casino and Gaming Commission (ACGC).
There are currently three major gambling markets: in NSW, Victoria and Queensland, and a third market, in South Australia, is being considered for regulation.
Gambling regulatory body ACGAC also announced on Thursday that it will set up a dedicated team to oversee the regulation of online casinos and gaming businesses.
In a statement, ACGACC chief executive, Paul Butler, said the ACCC’s focus would be to ensure that gambling in this market remains fair, safe and ethical, and that people can play safely.”ACGACC will work to ensure any gambling sites comply with the laws and regulations, and we will work closely with regulators in order to achieve this,” he said.
What is online gambling?
What is the internet?
Is it safe?
Can I gamble?
Is there any liability?
What do the rules mean?
What are the penalties?
Online poker is a gambling business, which means it relies on users to make bets on the outcome of live online events.
The game allows users to win and lose money, and is usually played online, in person or through online poker apps.
The sites offer a number of ways to gamble, such as a single-player or two-player mode.
In online poker, players can place bets on games such as sports, poker, craps and other online games.
The amount of money that can be won depends on the strength of your bets, and the number that are placed in a match.
Some online poker games can take up to 24 hours to complete a match, while others can take as little as 15 minutes.
What can I do if I’m caught betting online?
If you are caught betting, you could face a $10,000 fine and six months imprisonment, while those who have won $5,000 or more in a single match face a maximum penalty of three years in jail.
If you’ve been caught betting on a live game, your options are limited.
You could be banned from playing online poker forever and lose your account, or you could lose your poker chips, which you’d be required to keep in a safe deposit box for two years.
You could also lose your cash and get a penalty notice.
If your poker chip is confiscated, you can ask for the chip back, and pay a fee to have it re-admitted.
Online poker companies have to be licensed and insured in Australia.
But you can’t use the internet to gamble in Australia if you are under 18.