Asia, Australasia eye lost funds from offshore betting

Governments from Singapore to New Zealand are concerned about their citizens betting offshore and are looking for ways to recapture, or replace, tax revenue and income for racing clubs and sporting bodies.  In Australia, a government-appointed inquiry into offshore wagering is due to report this month. Singapore has already enacted legislation to prohibit its citizens from using offshore gambling operators, and the Malaysian government is also talking tough on the issue.  In New Zealand, a recently released report from the Offshore Racing and Sport betting Working Group set up by the New Zealand government and the thoroughbred racing industry is proposing a levy on bets placed with offshore gambling operators on New Zealand races and sports events.  The government minister responsible for the racing industry admits that the logistics of enforcing the Offshore Bookmaker Levy are “challenging.”  Under the working party’s plan, offshore gambling operators would be required to register, pay a fee...

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