I dunno if that is true. The rules are quite strict and I think the NT gaming commission and government take their obligations extremely seriously.
If they take the obligations under sport, as seriously as they do racing, they certainly aren't a toothless tiger. Why do you think it has gone to shit? I can't find the sports page, but look at this:
http://racing.nt.gov.au/northern-ter...cing-decisions
The way the decisions are considered and worded is very professional and I'd guess better than anywhere else in the world. e.g: look at
http://racing.nt.gov.au/__data/asset...sbet-pdf-2.pdf <-- they ordered that this bloke get paid 85K, when the sportsbet limit was normally $20K. He was successful on the basis that he had placed and won bets over 20K before and, accordingly, had a reasonable expectation that the cap didn't apply to him.
The argument in OPs case would revolve around what an 'incorrect price' is in circumstances where bet365 set the market price. It would definitely be an interesting argument.
If I had a significant dispute, I would definitely get them involved.