Time: 2024-08-21
An online betting operator , PlayUp Interactive , also known as Draftstars , has been hit with a record fine of 86,000 in Sydney 's Downing Centre local court for offering illegal inducements to gamble in 33 advertisements on its website . The company was found guilty of all 33 related offenses , which included providing free bets and other lures to potential players.
Liquor & Gaming New South Wales ( NSW ) fined PlayUp Interactive over AU00,000 for 33 illegal advertisements on its DraftStars website . The company offered inducements to gamble and open betting accounts , violating NSW advertising regulations . The director of compliance and enforcement , Dimitri Argeres , emphasized a zero - tolerance approach to regulatory breaches , stating that betting service providers must ensure that prohibited gambling advertising does not appear in NSW.
The fine imposed on PlayUp exceeds previous penalties for similar offenses , with a maximum penalty of 10,000 for corporations and 1,000 for individuals guilty of illegal gambling advertising in Australia . The company 's operations extend to New Zealand , India , and the US . Despite facing challenges in the US market , PlayUp continues to operate in Australia under the PlayUp and DraftStars brands.
PlayUp 's struggles in the US market , including the loss of its New Jersey sports betting license and the closure of its Colorado book , have raised concerns about the company 's financial stability . A failed sale to a crypto trading platform and the collapse of a SPAC combination have further complicated PlayUp 's situation . Employees have suggested that issues in the US market may impact the company 's Australian business , although there have been no recent updates on the matter.
In conclusion , PlayUp Interactive 's record fine for illegal gambling advertising in Australia highlights the strict regulations in place to prevent inducements to gamble . As the company navigates challenges in the US market , its operations in Australia continue under scrutiny from regulatory authorities . The case serves as a reminder of the consequences of violating advertising laws and the importance of compliance in the gambling industry.
Business
