80% of Australian Lottery Gambling Controlled by One Company

Gambling is a very popular pastime in Australia. As a matter of fact, the land of koalas and kangaroos is one of the most gambling nations on the globe. Australian gambling law makes this a possibility and pokies and casinos can be found in every corner of the island nation. 

Even in countries where many forms of gambling aren’t legal or considered acceptable, a national lottery is usually permitted. Needless to say, Australia’s lottery is of massive proportion and very popular. 

Just recently, this very popular lottery changed hands giving control over a stunning 80% to one company, Tatts Group. This was the result of an $850 million deal and crafty work between the company’s CEO and the New South Wales government. 

According to the Australian Competition and Consumer Commission, such actions would not usually be permitted as it seems that a monopoly is being constructed and that’s not fair on the market. However, Tatts Group bypassed the ACCC’s attention by not purchasing a company, but rather a license for the lotto which will be valid for the next 40 years. 

While all other forms of gambling maintain a solid status and popularity, internet gambling in Australia is surprisingly behind. This is a result of the government’s reluctance to have anything to do with it. 

Actually, the government has issued licenses to various online casinos in Australia, but the companies on the receiving end are not permitted to accept Australian dollars. Those who wish to gamble online in Australia must do so on foreign sites where the local government has no jurisdiction.