Charlotte Wilson: Key Takeaways from Regulating The Game In Sydney
The action-packed event, which took place from March 7th to March 11th, was a huge success. The event included multiple partners and key industry players who provided invaluable insights for the gambling regulation.
Australia-Casino journalist Charlotte Wilson closely followed the Sydney event and identified a wide range of gambling regulation issues raised by different experts. According to Charlotte, the training provided a concise road map for improving the gaming environment in order to ensure guaranteed safety and long-term gambling practices that adhere to national and international legal frameworks. Below is a summary of the event’s proceedings as recorded by Charlotte Wilson.
“Regulating The Game” Intensive Training Program
According to the event organizers, the main goal of the event was to provide intensive training. The mission is to significantly improve key players’ sector knowledge, organizational capabilities in the Australian gambling market, and generate discourse for best practices in the current regulatory framework. The hope is to foster progressive thinking to secure the future of the rapidly growing industry.
The five-day event, in particular, challenged the existing status quo in the local gambling industry. Contesting the current operational models used by the majority of providers from an outsider’s perspective. The initiative “Regulating The Game” was a call to action for the sector’s leadership. Instigating such players to be more curious, contest existing ideas, collectively share insights on best ways to overcome the challenges posed by public policy, and also create a new culture. One that strives to continuously improve the gambling environment in Australia.
Paul Newson’s Overview of Australia’s Gambling Industry
Money laundering and other criminal activities in the local gambling market, according to Paul Newson, a gambling regulations specialist in Australia, take advantage of existing regulatory loopholes. Paul Newson is at the forefront of dealing with compliance issues among local providers. He urged all industry players to be proactive in responding to regulatory deficiencies in order to build a more resilient sector.
“All stakeholders must be proactive and play an active role in the public square,” Paul said during the five-day conference. Their input must be supplemented by taking into account the views of other stakeholders. It is the most effective strategy for influencing public policy in favor of an all-encompassing and equitable regulatory framework that is tailored to current security threats undermining the gambling industry.”
Ways Attendees Will Benefit From the Program
The expert content presented in the “Regulating The Game” training, as well as the networking platform that encouraged debate among key sector players, piqued the participants’ interest. The event’s general atmosphere broke down barriers among Australia’s gambling providers, resulting in candid discussions about sector issues, prospective opportunities, and potential risk factors.
Not all attendees in the integrated environment understood or applied regulatory principles to leverage advantages such as formulating tried and tested public policies, capitalizing on emerging trends in the global gambling industry, or implementing intelligent risk-based policies to protect their entities from fraudsters.
The partnership between International Center for Gaming Law (ICGR) and Australia
The International Center for Gaming Regulation, University of Nevada, Las Vegas (ICGR) collaborated seamlessly with Australian gambling industry leaders. The five-day event brought together experts in research, law, intelligence, public policy, investigations, and regulation, making it a one-of-a-kind and well-rounded gathering. Such is not typical in the Australian market.
ACMA, which enforces Australia’s Interactive Gambling Act, AUSTRAC, the official financial intelligence unit in Australia’s gambling niche, and the AML/CTF regulator were among the key figures in the event. Bringing such actors together is difficult, but the event achieved an impeccable balance that evoked a collaborative effort between these bodies. The various representatives discussed emerging risks in the gambling industry, their personal priorities, and their position on the current regulatory framework.
Key Resolutions from “Regulating The Game” Training
The main takeaways from the historic event include the established opportunity for gambling operators and regulators to form a long-term relationship that could shape a prosperous future for Australia’s industry. The collaboration of Australian gambling regulation specialists and international regulators provided a road map for local providers to national and international expansion. In addition, the local market resolved to engage in healthy and productive competition through networking channels that inform compliance and regulatory policy.
Recap
Australia’s gambling market is unlike any other in the world, and it has enormous growth potential. The Queensland government valued the market at more than $225 billion in 2019. This figure skyrocketed due to an increase in online gamblers during the 2020 and 2021 pandemic, and the resulting containment measures. Initiatives such as “Regulating The Game” help to consolidate the Australian market and ensure a unified regulatory front in the industry’s expansion efforts.
Charlotte Wilson has been an iGaming journalist for Australia-Casino since 2019.
Contact information: charlottewilson@australia-casino.co
