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The TAB was set up as a way of providing funding for both the government and the horse racing industry. Each state and territory established its own version of the TAB, before, over time, selling off the regulator to private companies for a quick buck. The TAB expanded to sports, entertainment and other betting markets over time and was the sole legal provider of betting markets up until You will still find versions of the TAB in each state:.
The name Matthew Tripp is synonymous with betting. Every thing the man touches turns to gold. He is credited with changing the betting landscape, securing the first non-government licence after purchasing a little Darwin-based company called Sportsbet. Three years later, at the advent of the internet, CentreBet. In , it became the first licensed bookmaker to offer online betting in Australia.
Today, every mug with a market and a bit of cash is online, but things were different back then. It took five years for the government to really take notice of the phenomenon of the online sports betting world and it tackled the growth and interest in the industry by introducing a piece of legislation called the Interactive Gambling Act The IGA provided a stringent set of guidelines restricting what services online bookmakers could offer and how they were allowed to operate on Australian shores.
It was established in , when things like smartphones were just a seed in the heads of people like Steve Jobs. Times have changed significantly, with the advent of iPhones and tablets and other mobile devices making it easier than ever to access online bookmakers.
The government is in fits over the prevalence of online gambling, tackling it head on with a review of the act and plans to make several amendments to close loopholes and tighten restrictions on the growing number of online bookmakers. There is a minefield of state and Federal laws potential operators need to follow in order to provide a strong service which does not contravene any of the regulations.
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