On 7 December 2000, the Australian Federal Government voted to impose a 12 month ban, effective from this month, on Internet gaming. Darwin-based betting firm, International All Sports Ltd, has said that it may relocate to Malta following the proposal to ban online gaming. Indeed, in a report to shareholders, the company's Executive Chairman and Managing Director, Mark Read, said the company has been granted an international wagering licence by the Maltese government.
Mr Read says that whilst the company's Australian clientele will lose out, setting up shop in Malta will allow International All Sports to continue operating, plus it will afford access to the lucrative European market.
Last month, Mr Reid branded the Interactive Gambling 2001 legislation introduced into the Senate as “an outrageous misrepresentation of the Internet wagering and sports betting industry in Australia”. He charged: 'In today’s high-tech society wagerers maintain extensive databases and, in many cases, do an even more comprehensive study than analysts who choose the financial markets as their medium of choice. Yet it’s okay under this legislation to invest on the stock exchange online. Wagering on horse racing and sporting events is no different to investing on futures shares on the stock exchange.'
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