Online betting operator Colossalbet has been fined AU$60,000 for posting illegal gambling adverts to social media.
The fine to Ryman Racing, operator of Colossalbet, follows an investigation by Liquor & Gaming NSW which found that the company had posted five offending ads for its PuntHub racing tips business in October 2023 on Instagram and Facebook.
All of the ads were found to be in breach of gambling advertising regulations because they failed to meet “standards of decency, dignity and good taste”.
“This is the first time a wagering operator in NSW has been prosecuted and convicted for publishing ads which offend standards of decency, dignity and good taste,” said Bernadette Beard, Liquor & Gaming NSW executive director of regulatory operations and enforcement.
“L&GNSW actively monitors gambling advertising across all platforms and will not hesitate to take enforcement action where necessary. This is a serious penalty. I would urge betting providers take note and ensure the standards in the Act are being met in their advertising.”