12th of October 2011 Author: Glo Wood
Victoria regulators caution bettors
This week, in the run-up to the Victorian Spring Racing Carniva, the Regulators from the Australian State of Victoria issued a warning to bettors, advising that they should not open betting accounts on the basis of illegal inducements.
Namely, the Victorian Commission for Gambling and Regulation (VCGR) said: 'Under Victoria's Gambling Regulation Act it is illegal for a wagering service provider to offer any credit, voucher or reward as an inducement to open a betting account' and "VCGR inspectors will be on the lookout for breaches of gambling laws and other betting venues during the Carnival."
Apparently, the regulator has raised charges against four wagering providers for offering illegal inducements. Those are Betfair Limited licenced in Tasmania and Darwin-licenced sports betting providers International All Sports Limited trading as IASBet, SportsBet Limited and Betezy Limited.
The charges were raised because IASBet offered up to A$1000 in free bets to new players, SportsBet similarly offered A$100 and A$200 to new sign ups, whereas Betezy's infringement was offering a free bet of A$200 up to A$2500 as an inducement to an account holder to refer a friend, and Betfair allegedly offered its customers a refund of up to A$50 on any losing bet placed during the Spring Racing Carnival.
As for the inducement, it included a special Melbourne Racing Club membership offer, leather race book cover and drink voucher.
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