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An online wagering company has illegally advertised ‘bet boosts’ and deposit-matching schemes to NSW punters and duly been hit with an $18,000 penalty by the state regulator.

Online agency neds.com.au was slugged with the fine on Tuesday after pleading guilty to five offences relating to advertising rewards for gambling.

The company’s advertised offers included matching first deposits by up to $505, Liquor and Gaming NSW said in a statement on Wednesday.

It also promoted bet boosts, in which the stake of a gambler’s wager is increased at no additional cost.

The deals were advertised on the company’s own website and elsewhere online between October and December 2017.

Liquor and Gaming NSW deputy secretary Paul Newson said the case had to be prosecuted under existing laws but stressed new laws, due to be implemented in the coming months, would impose far higher penalties.

Not only would maximum fines increase tenfold but company directors could be held personally liable for offences.

‘It will no longer be good enough for directors to turn a blind eye and say they were unaware their company had committed offences,’ Mr Newson said.

Those laws were passed in state parliament in March.