Tabcorp Blames Technical Error for Bet Breach After ACMA Warning
Australian gambling company Tabcorp (ASX: TAH) has pointed to ‘incorrect match data from a third-party and a technical error on its systems as reasons behind its incidental breaching of online in-play betting laws in Australia.
The company admitted this after it was issued a formal warning by the Australian Communications and Media Authority (ACMA) for accepting 37 illegal online in-play bets on a US college basketball game in January.
Online in-play betting or live betting is simply the process of placing a bet during an event or after it has begun. This type of betting is banned in Australia by the Interactive Gambling Act of 2001 Tabcorp is the first gambling company caught by ACMA for flouting the “in-play betting rule “ in the 2001 Interactive Gambling Act.
In its defense, Tabcorp noted that it had paid out the winning bets and refunded losing bets that resulted from the in-play betting. However, ACMA said the company should have voided all bets to prevent both the operator and the punters from benefiting from the prohibited activity.
These rules have been in place for many years and Tabcorp has had more than enough time to put systems in place to ensure that in-play betting is not offered on local or international sports.
However, ACMA only gave Tabcorp a formal warning and didn’t follow it up with court-ordered sanctions because of the company’s positive reputation and “actions to deal with the illegal bets and its commitment to improve its systems and processes.”
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