Illegal gambling in Australia could top $2 billion in 2020

A recent report suggests illegal gambling in Australia is a bigger problem than previously thought, with current estimates forecasting it could hit $2 billion a year by the end of 2020.

The report by the Hong Kong-based Asian Racing Federation (ARF), which included Australia among a number of other markets, suggested up to 6% of Australian wagers could be illegal, potentially costing the govemment just shy of $270m in lost tax revenue each year.

The cost to publicans was not detailed but it is anticipated that they will be experiencing losses as a result of these bets entering the black market.

The report shows unregulated gambling is growing faster than regulated gambling here in Australia, despite legislative changes introduced in 2017. The report also strongly suggests a link exists between illegal gambling, the black market, organised crime and corruption in sport.