Pandemic Sends Australia's Gambling Problem Online
Published on October 01, 2022 at 12:52AM
Already the world's biggest gambling nation in terms of loss per person, Australia has seen a shift in betting behavior since the pandemic-forced closure of public venues. From a report: Gamblers' losses on poker machines shrank for the first time during the pandemic, but at a rate far slower than an unprecedented increase in money lost on apps, data showed. That means more players are being exposed to an industry that is harder to regulate than traditional gambling. Australia's gambling industry has been in the spotlight in recent years, with public inquiries lashing its biggest casino operators due to lapses in money laundering protections. Online gambling has also been the focus of inquiries, but with its increasing prevalence, the government has answered consumer advocates with a pledge to take a deeper look. App providers are mostly foreign such as London-listed Flutter Entertainment -- owner of the most popular betting app in Australia, Sportsbet -- and Entain, owner of third-ranked app Ladbrokes. Unlike venues, they benefit from marketing methods such as text message-based promotions falling outside the scope of gambling advertising restrictions. Gamblers' loss on poker machines was A$11.4 billion ($7.3 billion USD) in 2021, shrinking A$1.1 billion or 17% from 2019, the year before lockdowns began, showed data from Monash University's School of Public Health & Preventive Medicine. But gamblers' loss in online sports betting swelled A$3.2 billion or 80% to A$7.1 billion in the same period, showed figures supplied by industry consultancy H2 Gambling Capital, which excluded credit often rewarded in promotions.
Published on October 01, 2022 at 12:52AM
Already the world's biggest gambling nation in terms of loss per person, Australia has seen a shift in betting behavior since the pandemic-forced closure of public venues. From a report: Gamblers' losses on poker machines shrank for the first time during the pandemic, but at a rate far slower than an unprecedented increase in money lost on apps, data showed. That means more players are being exposed to an industry that is harder to regulate than traditional gambling. Australia's gambling industry has been in the spotlight in recent years, with public inquiries lashing its biggest casino operators due to lapses in money laundering protections. Online gambling has also been the focus of inquiries, but with its increasing prevalence, the government has answered consumer advocates with a pledge to take a deeper look. App providers are mostly foreign such as London-listed Flutter Entertainment -- owner of the most popular betting app in Australia, Sportsbet -- and Entain, owner of third-ranked app Ladbrokes. Unlike venues, they benefit from marketing methods such as text message-based promotions falling outside the scope of gambling advertising restrictions. Gamblers' loss on poker machines was A$11.4 billion ($7.3 billion USD) in 2021, shrinking A$1.1 billion or 17% from 2019, the year before lockdowns began, showed data from Monash University's School of Public Health & Preventive Medicine. But gamblers' loss in online sports betting swelled A$3.2 billion or 80% to A$7.1 billion in the same period, showed figures supplied by industry consultancy H2 Gambling Capital, which excluded credit often rewarded in promotions.
Read more of this story at Slashdot.
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