Gambling losses have reached an alarming milestone in Queensland, as the latest figures reveal that residents lost more than AUD5 billion ($3.2 billion) during the 2022-2023 financial year, marking an 11.3% increase from the previous year.
Electronic Gaming Machines Account for 63.2% of Queensland’s Gambling Losses
The data, released by the Queensland government, has raised eyebrows across the state, reported ABC News. It shows that electronic gaming machines accounted for a staggering AUD3.2 billion ($2 billion), representing 63.2% of the total losses. Casino-related losses amounted to nearly AUD800 million ($512.4 million), while lotteries and wagering contributed AUD642.1 million ($411.2 million) and AUD313.8 million ($202 million), respectively, to the overall figures.
Queensland Attorney-General Yvette D’Ath expressed her concern over the rising losses, acknowledging that several factors could be contributing to this increase, including changes in spending habits. She emphasized the potential harm that excessive gambling can inflict on communities, mentioning that many Queenslanders enjoy betting, but she also noted that gambling can lead to harm.
In response to the issue, the government has implemented measures to address gambling-related harm. This includes allocating AUD7.8 million ($5 million) to Gambling Help Queensland in the state budget and enforcing regulations such as an AUD100 ($64) cash load-up limit and a minimum spin rate of 3 seconds per game for club and hotel gaming machines.
Additionally, since July of the current year, 97% of Queensland venues have adhered to a mandatory six-hour shutdown period from 4 am.
The government is also actively working toward making cashless gaming mandatory for transactions exceeding $1000 in Queensland casinos as part of their ongoing efforts to curb excessive gambling.
Alliance for Gambling Reform CEO Calls for Urgent Action Amidst Soaring Losses
Carol Bennett, the CEO of the Alliance for Gambling Reform, expressed her astonishment at the staggering losses, especially during a time when many individuals are facing financial hardships. She urged both federal and state governments to prioritize this issue and take significant steps to protect the community from such devastating losses.
In response to the situation, the federal government recently introduced legislation to ban the use of credit cards for online gambling, addressing one aspect of the problem. Meanwhile, in Queensland, the state government regulates the number of electronic gaming machines allowed in pubs and clubs.
Clubs Queensland, an organization representing community clubs, stressed their commitment to responsible and sustainable activities. They pointed out that the revenue generated by these clubs, including those without gaming machines, benefits local organizations and essential community initiatives.
Meanwhile, in July the Palaszczuk Government in Queensland announced a new initiative during Gambling Harm Awareness Week to address excessive gambling and promote support services, partnering with Queensland Cricket to raise awareness of gambling harm and sports betting risks.