The global wagering company, Betfair, has answered a special Australian government committee’s call for submissions to comment on the country’s online gambling industry, and said that it wholly supports the introduction of a legal and regulated industry. The Productivity Commission will examine the submissions, institute public hearings and submit a comprehensive report to the government by the end of the year.

“All revenues flow directly offshore without any tax being paid in Australia,” wrote Betfair. “Furthermore, players are gambling in a largely unregulated environment, with little protection offered to players in terms of fraud, security or harm minimisation. The ban on offering interactive gaming to Australians has had very little effect on curtailing the enormous growth of that sector of the market in Australia. Betfair advocates an approach based on regulation, rather than attempts to prohibit the activity. Only through regulation can effective player protection initiatives be enforced in the online environment.”