Vera&John Leaves Australian Market with More Operators Expected to Follow SuitPublished December 26, 2016 by Ivan P
Vera&John becomes the first online casino to leave the Australian Market in light of the new gambling legislat
Vera&John, one of the well-known online gambling providers, has become the first online casino to close down the shop Down Under. Many believe that Vera&John is just one of many operators that will leave the Australian market in light of the new online gambling legislation prohibiting offshore casinos from offering services to Australian punters.
A Business Decision
In the email sent out to all existing Aussie customers, Vera&John didn't go too much into details behind the move. They explain it simply as a "business decision," albeit one they regret.
Existing players are no longer able to make deposits with Vera&John, and all current accounts will be completely closed within one week. All funds remaining in Australian accounts after the one-week deadline will be transferred to their respective owners.
The First of Many?
Despite the reluctance to divulge the reasons behind the exit, it seems rather clear that the move was enticed by the earlier mentioned changes to gambling laws. Namely, the Federal government accepted reviews for the current gaming provisions, which will significantly change the online gambling landscape Down Under. No operator will be allowed to offer services to Australian gamblers without a local license under a threat of penalty up to $1,000,000.
Given the circumstances, Vera&John is probably only the first of many to bid farewell to the Australian market. Most online casino operators will probably take the safe route and remove themselves completely rather than continuing and facing severe repercussions. PokerStars, the biggest online poker site on the planet, is one of those who have already announced their plans to leave Australia in the near future.