Australia cracks down on betting industry perks amid ethics review
Australia's top online gambling regulator, the Northern Territory Racing and Wagering Commission (NTRWC), has temporarily halted corporate freebies from betting companies. This move comes amidst a review aimed at bolstering ethics and restoring public trust, following criticism of the commission's ties with the industry.
The NTRWC is currently undergoing a review by the Northern Territory government, with key findings set to be shared with the public next year. Critics have long argued that the commission's part-time member structure lacks the necessary clout to effectively oversee Australia's $50 billion betting news industry.
In response to these concerns, the NTRWC is updating its rules. The new code will not ban racehorse ownership but will mandate members to declare and manage any interests through disclosure and recusal processes. Commission chair Alastair Shields confirmed that the new code will establish clear rules to manage potential conflicts of interest and ensure unbiased decision-making.
The NTRWC's review and rule update aim to strengthen its oversight and rebuild public confidence in the commission. While the specific timeline for the review's completion is not yet known, the commission has shown ongoing commitment to enforcement and oversight, with actions taken under its new structure in 2024.
