The first quarter of the fiscal year 2024-25 has been stellar for Ontario’s iGaming industry, as reported by iGaming Ontario. The period spanning April to June 2024 witnessed substantial activities across the province’s regulated online gaming platforms, involving 50 operators.

Martha Otton, Executive Director at iGaming Ontario, commented on the sector’s growth: “Our regulated iGaming market, with its expanded operator base and increased wagering, offers a myriad of enjoyable gaming options. This growth not only enhances the gaming experience but also substantially contributes to provincial funds aimed at infrastructure, healthcare, and education.”

Performance Metrics and User Participation

The market experienced a total wagering sum of $18.4 billion, showing a growth of 3.4% from the previous quarter and a 31% increase from the first quarter of the previous year. Gaming revenues were equally strong, with a total of $726 million recorded, marking a 5.2% increase quarter-over-quarter and a 34% increase year-over-year. These revenues are calculated from total cash bets, inclusive of various game-related fees, and are net of payouts to players, excluding operational expenditures.

The user engagement was robust, with nearly 1.9 million player accounts active during the quarter. These accounts include both cash and promotional betting activities, and the figure does not represent unique individual players as some hold accounts across multiple platforms. The average monthly spend by these players was approximately $284.

Gaming Categories Detailed

In terms of wager distribution, casino games led the pack. These games, which include slot machines, digital and live table games, as well as peer-to-peer bingo, commanded nearly $15.5 billion or 84% of the total wagers. They generated $529 million in gaming revenue, accounting for 73% of the total.

The sports betting segment also performed well, with a total of $2.5 billion wagered, constituting 14% of the overall betting amount and generating $181 million in revenue. Highlight events such as the Stanley Cup Final, where the Edmonton Oilers competed, significantly contributed to the wagering volume.

Peer-to-peer poker contributed $402 million to the total wagering, about 2.2% of the overall, and generated $16 million in revenue. This shows a slight seasonal dip, possibly influenced by major poker events like the World Series of Poker in Las Vegas, which typically draws players away from local platforms.

Continued Commitment and Prospects

iGaming Ontario is dedicated to maintaining transparency and accountability by regularly publishing market performance reports. These reports provide valuable insights into the market dynamics and help monitor the impact of regulatory measures on the economic benefits to the province.

Looking forward, the Ontario iGaming market is poised for continued growth, surpassing initial expectations and contributing significantly to the province’s economic and social objectives. This sector’s continued success reflects a robust regulatory environment and a diverse range of gaming options available to residents.

Source:

iGaming Ontario’s FY 2024-25 Q1 Market Performance Report, igamingontario.ca, July 24, 2024.

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Following the conclusion of Euro 2024, the French Online Gaming Association (AFJEL) released initial market figures that revealed a disappointing performance for licensed online sports betting operators. Despite expectations, the legal market stagnated, showing no growth compared to Euro 2021 and a substantial 25% decline from the 2022 World Cup figures. Notably, the stakes fell far short of the National Gaming Authority’s (ANJ) predicted record of €1 billion, with actual figures coming in 50% lower.

Stagnation and Decline in Legal Sports Betting

The report highlights several troubling trends for the licensed sports betting market:

• Stakes remained stagnant compared to Euro 2021.
• A significant 25% drop in stakes from the 2022 World Cup.
• Actual stakes were 50% below ANJ’s forecast, amounting to approximately €500 million.

These figures are particularly concerning given that the French national team reached the semi-finals, a performance that would typically boost betting activity. However, the lack of growth and the continuous decline in the number of unique players (-5.3% in 2023) suggest a shift towards the illegal market.

Rise of the Illegal Gambling Market

In stark contrast, the illegal gambling market has flourished. For the first time since the regulated market’s establishment in 2010, the number of illegal players surpassed those in the legal market, reaching 4 million in 2023. This growth has been driven by illegal online casino sites offering sports betting on Euro 2024 without any regulatory oversight or player protection measures. These platforms have attracted players with enticing odds and the absence of legal restrictions.

Nicolas Béraud, President of AFJEL, expressed concern over these trends. He stated, “The initial assessment of Euro 2024 reveals figures that contradict the supposed frenzy of online sports betting on the legal market. The illegal market continues its strong expansion, cannibalizing the online sports betting sector by diverting players from the legal offer.”

Challenges in Curbing Illegal Gambling

Despite efforts by the ANJ to block illegal sites, these measures have proven ineffective. Béraud emphasized that unlicensed operators act with “complete impunity,” further exacerbating the issue. The regulator’s actions have not been sufficient to curb the growth of the illegal market, leaving over 4 million players exposed to significant risks.

This situation is compounded by the absence of a regulated online casino market in France and the high taxes imposed on legal operators. These factors drive players towards illegal platforms, which offer more attractive options without the burden of taxes or regulatory constraints.

A Paradoxical Market: Growth Amidst Decline

Interestingly, despite the concerns raised by AFJEL, ANJ figures indicate a thriving French gambling market. The total gross gambling revenue (GGR) for 2023 reached a record €13.4 billion, a 3.5% increase from 2022. All market segments saw growth, with online sports betting revenue growing by 6.4% year-on-year to €1.5 billion.

However, this growth masks underlying issues. The pool of unique players decreased by 7.3%, and the number of active accounts fell by 3.9%. The market continues to be dominated by former gambling monopolies like La Française des Jeux (FDJ) and Pari-Mutuel Urbain (PMU), which accounted for 62.7% of total revenue.

Addressing the Illegal Gambling Challenge

To address the growing illegal gambling problem, several measures could be implemented:

1. Stricter Penalties: Imposing harsher penalties on illegal operators and participants could deter illegal activities.
2. Advanced Technologies: Investing in technology to improve the detection and blocking of illegal sites.
3. Legalization of Online Casinos: Expanding the legal market to include online casinos could attract players back to the regulated sector.
4. Tax Policy Review: Reducing taxes on legal operators could make the legal market more competitive.
5. Public Awareness Campaigns: Educating the public on the risks of illegal gambling and benefits of legal channels.
6. International Collaboration: Sharing best practices with international regulatory bodies to enhance regulatory measures.

Implementing these strategies could help curb the growth of the illegal market and ensure the sustainability of the legal gambling sector in France.

Source:

Online sports betting during Euro 2024: A mixed assessment for the legal market while the illegal market explodes, afjel.fr, July 15, 2024.

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In March 2024, Bitcoin surged to an unprecedented high, approaching 70,000 euros per coin. This significant development has left a notable impact on the iGaming market. SOFTSWISS, a pioneering tech company with over 15 years of experience in crypto iGaming software development, offers insights in its quarterly crypto analysis.

Over 220 brands supported by the company conducted crypto transactions in the first quarter of 2024, marking a 12% increase from the previous quarter. SOFTSWISS experts utilized extrapolation, comparative, and correlative analysis to interpret data collected from crypto-friendly brands.

Anticipated Growth in the iGaming Market

According to Statista, the global online gambling and sports betting industry is projected to exceed 170 billion euros by 2032. SOFTSWISS data corroborates this optimistic outlook, showing consistent year-on-year growth in the iGaming market.

In the first quarter of 2024, the Total Bet Sum in euros rose by 5.8% compared to the final quarter of 2023. Year-on-year, comparing Q1 2024 to Q1 2023, this growth is even more striking at 47.2%.

Similarly, the Total Bet Count, encompassing both fiat and crypto bets, saw a slightly higher increase of 6.1% in Q1 2024 over the previous quarter. The year-on-year increase in this metric is remarkable, with a 57.2% rise.

Recent advancements in technology have driven the popularity of iGaming, enhancing its global reach and accessibility. Improvements in internet connectivity and the introduction of new payment methods have streamlined payment processes, contributing to this trend.

Ongoing quarterly analysis since early 2022 shows that fiat bets have been growing more robustly than crypto bets. In Q1 2024, the Fiat Bet Sum increased by 6.9% compared to Q4 2023, while the Crypto Bet Sum grew by 2.4%.

As a result of the more rapid growth of fiat bets, the share of crypto bets in the Total Bets Sum slightly decreased. In the first quarter of 2024, crypto bets constituted 24.4% of the Total Bets Sum, a 0.8 percentage point decline from Q4 2023.

Current Status of Crypto in iGaming

In examining crypto bets, it is essential to note that nearly 93% are facilitated through an in-game currency conversion tool, which is gaining popularity. This tool allows operators to engage players with cryptocurrency assets in games initially designed for fiat only. Operators leveraging such options are gaining a competitive edge in the market.

Despite a modest 2.4% growth in the Q1 2024 Crypto Bet Sum compared to the previous quarter, year-on-year analysis reveals a 20.8% increase. The Crypto Bet Count remained steady in Q1 2024 relative to the previous quarter, yet showed a 21.3% year-on-year rise. These figures indicate a sustained interest among players in crypto gaming.

The Average Crypto Bet: A Closer Look

The average crypto bet increased from 1.66 euros in Q4 2023 to 1.71 euros in Q1 2024, correlating with the significant appreciation of Bitcoin during this period.

Conversely, the average fiat bet remained steady at approximately 0.81 euros in both Q1 2024 and Q4 2023. The average total bet has remained unchanged since the second half of the previous year, at 0.93 euros.

The average crypto bet being double that of fiat bets indicates a preference for digital currencies among higher-income players.

Bitcoin’s Declining Share

The top five most utilized digital currencies in iGaming have remained stable over the past two years, with minor ranking shifts. Bitcoin, Ethereum, Litecoin, Dogecoin, and Tether continue to dominate the market.

In Q1 2024, Bitcoin’s share saw a notable drop of 9.4 percentage points compared to Q4 2023. This decline could be due to the strengthened Bitcoin exchange rate, prompting players to adopt a more cautious approach.

In contrast, the shares of other digital currencies have risen. Ethereum and Litecoin saw growth of 4.0 and 3.8 percentage points, respectively. Additionally, Dogecoin moved up to fourth place, surpassing Tether.

Source:

“Navigating Bitcoin’s Impact: SOFTSWISS’ iGaming Industry Overview”, softswiss.com, May 16, 2024.

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A recent study conducted by the University of Massachusetts Amherst reveals that the introduction of casinos in Massachusetts has not led to a surge in problem gambling, contrary to some expectations. 

UMass Research Shows Slight Decrease in Problem Gambling

The findings, presented to the Massachusetts Gaming Commission, indicate that despite the proliferation of gambling opportunities, the prevalence of problem gambling remained relatively stable.

The study, led by Rachel Volberg, a research professor at UMass Amherst, compared data collected before and after the opening of three major casinos in the state. Surprisingly, the results showed that the rate of problem gambling actually decreased slightly from 2% in 2013 to 1.4% in 2021 among the adult population aged 18 and over.

Volberg highlighted the impact of COVID-19 on gambling behavior, noting that restrictions imposed during the pandemic reduced overall gambling activity. However, even before the pandemic, the study found no significant increase in problem gambling despite the establishment of new casinos.

Volberg explained that they had hypothesized that exposure to casinos in neighboring Connecticut might mitigate any potential rise in problem gambling. She added that it was reassuring to see their hypothesis confirmed.

At-Risk Gamblers’ Concerns Highlighted in UMass Study

The study also revealed a decline in out-of-state casino patronage, with only 10.2% of respondents in 2021 reporting gambling outside of Massachusetts, compared to 21.5% in 2013. This suggests that the casinos succeeded in keeping more gambling revenue within the state, as intended by the 2011 Expanded Gaming Act.

However, there are concerns regarding the financial impact on at-risk gamblers, who show signs of potential gambling problems but are not yet classified as problem gamblers. The study noted that the proportion of gambling expenditures coming from at-risk gamblers increased significantly, highlighting the need for early intervention and support mechanisms.

Jordan Maynard, interim chair of the Massachusetts Gaming Commission, emphasized the importance of raising awareness about available resources for problem gambling. The study found a significant gap in public awareness of support services, indicating a need for improved outreach efforts.

Despite the overall stable rates of problem gambling, public perception of the gambling industry in Massachusetts has shifted. More residents now believe that gambling is too widely available, with 67.5% expressing this concern in 2021 compared to just 15.6% in 2013.

The study, funded by the Massachusetts Gaming Commission, surveyed over 6,000 adults to provide a comprehensive analysis of gambling trends in the state. While the findings offer reassurance regarding problem gambling rates, they also underscore the importance of continued monitoring and proactive measures to address potential harms associated with gambling.

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In a month marked by unprecedented highs for New Jersey’s gambling industry, the state shattered multiple revenue records in January, signaling a robust start to 2024. However, amidst the celebration, there was a notable occurrence as traditional in-person casino earnings experienced a decline.

Internet Gambling and Sports Betting Reach Historic Highs in New Jersey

According to figures released by the New Jersey Division of Gaming Enforcement, January saw remarkable spikes across key metrics. Internet gambling revenue surged to a historic $183 million, marking a nearly 20% increase from the previous year, reported Associated Press. Sports betting also saw a monumental rise, with earnings reaching nearly $171 million, reflecting a staggering uptick of more than 136%.

While these numbers are cause for celebration, they also underscore a shifting landscape in the gambling industry. James Plousis, chairman of the New Jersey Casino Control Commission, highlighted the enduring impact of online gaming and sports wagering, emphasizing their role in providing a competitive advantage to operators, especially during traditionally slower periods like Atlantic City’s off-season.

The meteoric rise of online channels can be partly attributed to external factors such as harsher winter weather, which likely diverted brick-and-mortar activity towards digital platforms. 

Jane Bokunewicz, director of the Lloyd Levenson Institute at Stockton University, noted this trend, suggesting that the surge in internet gaming and online sports betting totals could be a consequence of adverse weather conditions.

New Jersey’s In-Person Gambling Struggles Amidst Online Success

However, despite the remarkable performance in online segments, the core concern remains the decline in earnings from in-person gamblers. In January, in-person casino winnings totaled just over $205 million, reflecting a 3.1% decrease from the previous year. This downward trajectory is compounded by the fact that in-person earnings continue to lag behind pre-pandemic levels, a trend observed since early 2020.

The disparity in performance among Atlantic City’s casinos further highlights the evolving dynamics within the industry. While newer establishments like the Borgata, Hard Rock, and Ocean reported gains in in-person earnings compared to four years ago, two-thirds of the city’s casinos are still grappling with lower revenues from traditional gambling activities.

Despite these challenges, the overall outlook for New Jersey’s gambling industry remains optimistic. The state’s casinos and tracks collectively recorded $1.71 billion in sports bets in January, setting a new record and surpassing previous benchmarks. This achievement underscores New Jersey’s resilience and reaffirms its position as a leading player in the legal sports betting landscape, alongside states like New York and Nevada.

In December 2023, New Jersey’s gambling industry saw significant growth across all segments, with total gaming revenue reaching $522.2 million, marking a 14.8% increase from the previous year.

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The recent surge in baccarat volume has economists and industry experts buzzing with optimism about the future of high-end properties along the famed Las Vegas Strip. 

High-Stakes Baccarat Fuels Record Revenue for Las Vegas Strip

According to insights provided by Wall Street analyst John DeCree, the Las Vegas Strip witnessed an unprecedented $905 million in gaming revenue in December alone, marking an 11.2% increase from the same period last year. 

Baccarat, renowned for its popularity among high rollers and international visitors, played a significant role in achieving this milestone. The baccarat win soared to $218.7 million, representing a staggering 50.1% increase compared to previous figures. 

Additionally, baccarat volume reached $839.5 million, the highest post-pandemic level, indicating a robust resurgence in high-stakes gaming.

DeCree emphasized that the notable performance of baccarat in November, coinciding with the inaugural Formula One race in Las Vegas, further solidifies the positive trend for upscale properties. 

DeCree stated that the table win had been buoyed by a strong baccarat win and emphasized that the positive trends in baccarat for both months served as indicators of optimism for higher-end properties on the Las Vegas Strip.

Record Slot Wins and Local Market Surge Propel Las Vegas to Success

The momentum extended beyond baccarat, with slot win on the Las Vegas Strip hitting an all-time high of $446 million, marking a 10.1% year-over-year increase. Notably, despite a slight decrease in hold, the handle reached a remarkable $6.2 billion, setting a new precedent for the region. 

Table win also experienced significant growth, increasing by 12.3% year over year, supported by a 5.5% rise in table drop.

In addition to the Strip’s success, the local market saw a boost in gaming revenue, largely attributed to the recent opening of the Durango Casino & Resort in southwest Las Vegas. 

DeCree noted a 6.5% year-over-year increase in December gaming revenue for local casinos, with the Durango property playing a pivotal role in driving these figures.

The positive performance was not confined to gaming revenue alone. Visitation to Las Vegas saw a 2.7% increase year over year in December, culminating in an annual total of 40.8 million visitors, surpassing the previous year’s figures. Furthermore, average daily room rates on the Las Vegas Strip experienced a notable uptick, rising by 5.8% year over year in December and 12.3% for the entire year.

While the data signals a promising trajectory for the region, DeCree urged caution against drawing definitive conclusions from a single month’s figures. Nevertheless, the overarching sentiment remains optimistic, with analysts eagerly anticipating continued growth and prosperity for Las Vegas’s renowned hospitality and gaming industry.

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His years of arguing in favor of legalizing gambling have finally resulted in tangible proof that the Bluegrass State is all the better off for choosing to go down a path that regulates sports wagering.

Beating All Expectations and Then Some

According to the governor and the state regulator, the first two months of sports gambling operation have yielded $8 million in tax revenue for the state. This is a promising number that outlines a brighter future for the industry and one that will most likely beat initial expectations.

According to Gov. Beshear, the initial projections for $23 million in annual revenue may have been underestimated, with the government now looking to rake in far more from sports gambling in terms of tax.

No specific number was cited as there are lull periods throughout the sports betting year, which would mean smaller revenue for the state in certain quarters. Although the industry is fairly new, it came at the right time, as its September launch was just in time for the NFL regular season, the College Football Season, and several other prominent leagues and sports.

According to Gov. Beshear, a total of $656 million had been wagered on sports, with only $26.8 million of this amount going through in-person wagers, and the remainder routed through mobile options. The amounts indicate what was previously a black market that deprived the state of the opportunity to prop up its public purse through a business that was already ongoing.

Of course, a part of this revenue was driven not least because people have become aware that sports gambling exists. In other words, not everyone who has been betting in the past two months has been aware of the offshore gambling market and many have indeed avoided it. Sports gambling was not an easy push in the Bluegrass State either.

Sports Gambling Doing Well, What about Further Expansion

Gov. Beshear has been fighting the good fight for many years, and he has equally tried to introduce online poker, seeing it as another important part of the state’s gambling expansion, and a valuable source of revenue.

Although the current results are encouraging, neither sports gambling nor poker are particularly big drivers of state revenue compared to online casinos, but this is a topic that has not been broached locally.

Of course, there are still issues to address in the market, specifically the lack of sufficient therapists who can help address issues in the market when they arise. Problem gambling will see an increase over the next months, as will Kentucky’s sports gambling revenues. Both are worth paying close attention to.

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An investigation by the New Zealand Herald highlighted the rising issue of online gambling activities during school hours. The country’s outdated regulation offers little protection from gambling harm, leaving its most vulnerable groups at risk. Experts warn that exposure to gambling from an early age can have significant repercussions later in life, urging the government to step in.

Insufficient Protections Pose Significant Risks

New Zealand’s Problem Gambling Foundation voiced explicit concerns, stating that the surge in high school students involved in online gambling is worrying. One former Auckland student shared his experience, noting that he signed up with an online operator during the COVID-19 lockdown and continued throughout his Year 13 at school, developing a severe gambling addiction.

AUT Gambling and Addictions Research Centre Associate Professor Maria Bellringer noted that problem gambling among students was increasingly frequent. She added that young people were digitally savvy and could easily bypass existing restrictions, including pretending to be their parents and using their credit cards. Bellringer noted that New Zealand had not officially researched the matter but highlighted growing anecdotal evidence.

Parents have been reaching out to treatment services, worried about their child’s gaming addictions.

Maria Bellringer, AUT Gambling and Addictions Research Centre Associate Professor

Many of New Zealand’s youth encountered gambling via adjacent activities like wagering money on popular video game “skin” betting websites, later steering towards real-money gambling. Another victim of underage gambling shared that the rising addiction eventually led to frequent pub visits to engage in pokies as he regularly wagered significant amounts.

Effective Measures Require Significant Legislative Reforms

New Zealand currently lacks specific laws to prohibit citizens from accessing offshore online gambling sites, leaving Kiwis without local legal protection while gambling with such operators. The introduction of phone bans in several New Zealand secondary schools has caused heated debates, with several institutions imposing strict restrictions on phone usage during school hours.

Despite these limited efforts, students continue to find ways to access online gambling platforms, normalizing and exposing their peers to these activities. Experts urged the New Zealand government to consider the seriousness of the matter and take preventative measures, such as loot box bans similar to those planned in Australia.

A 2020 survey revealed that just under half of youths aged 16-24 had gambled, with over 9000 people considered moderate and high-risk gamblers. Mounting evidence raises red flags regarding the potential risks and long-term impact on these individuals, placing significant pressure on the New Zealand government to consider its long-overdue gambling reform.

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The booming popularity of weight loss drugs is making an impact on unexpected sectors, with the casino and gaming industry finding itself on shaky ground. 

Weight Loss Drug Market Set to Soar to $77B

Shaun Kelley, an analyst at Bank of America, highlighted the potential correlation between obesity and problem gambling. Studies indicate that a considerable portion of casino revenue, estimated between 10% to 30%, comes from customers displaying problematic betting patterns, some of whom are also struggling with obesity. If these individuals turn to weight loss drugs, it could create a 0-4% revenue headwind for the US commercial gaming sector, particularly affecting slot machines and regional gaming establishments.

The implications would extend beyond casinos. Traditional food and beverage producers like Walmart, as well as fast-food chains such as McDonald’s and Taco Bell, might face challenges as consumers, influenced by these drugs, shift towards healthier dietary choices. Conversely, athletic apparel brands like Deckers and Lululemon could see a boost as consumers prioritize healthier lifestyles, redirecting savings from reduced food consumption into fitness-related expenses.

Mark Purcell, a biopharmaceuticals analyst at Morgan Stanley, noted that analysts are predicting the weight-loss drug market to grow exponentially, with revenue in the segment expected to reach $77 billion by 2030.

How Weight Loss Drugs Could Reshape Multiple Industries

Amidst these changes, gaming giants like Boyd Gaming, Caesars Entertainment, MGM Resorts International, Penn Entertainment, and Red Rock Resorts find themselves at the center of attention. MGM and Caesars, the largest operators on the Las Vegas Strip, might benefit as weight loss encourages more people to travel. However, regional operators like Boyd Gaming and Penn Entertainment, which have a significant presence in Nevada, could face challenges due to the shift towards healthier living.

The casino industry is not the only one under scrutiny. Airlines, especially those like United Airlines, could experience significant savings if passengers shed weight. United Airlines could potentially save $80 million annually with a mere 10-pound weight loss per passenger, reducing overall fuel consumption. Analysts suggest that this trend might be acknowledged by other major airlines like Delta Air Lines, American Airlines, Southwest Airlines, JetBlue Airways, and Spirit Airlines.

As the weight loss drug phenomenon continues to reshape consumer behavior, industries across the board are bracing themselves for a new reality, with the gaming and casino sector at the forefront of this unexpected transformation. Only time will reveal the true extent of the impact on these businesses as consumers navigate a landscape altered by healthier choices and changing habits.

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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.

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