Australians will now know how much they win and lose on gambling

Australians are some of the most passionate gamblers in the world, but they are also some of the biggest spenders. In light of this, the country will now introduce new safeguards to help consumers remain protected and on top of their gambling hobby.

The new measure, which will see gamblers receive monthly statements of the amount they have won and lost gambling, is coming on July 31 and it’s part of detailed research conducted by the government in 2018. This comes after ACMA announced that it is launching a national self-exclusion program for gamblers.

The Consumer Protection Framework for Online Wagering in Australia is extensive research into consumer habits that encompassed 5,000 people and looked into their gambling habits and what could be done to help mitigate gambling-related harms. The survey was conducted by AIFS’ Australian Gambling Research online.

Australians are estimated to be putting around $1.4bn a year into gambling, but there is no clear understanding of how impacted they are financially daily by this habit. The average Australian gambler is said to lose $1,276 per annum on the hobby.

Additional research by ACMA, the media communication in the country, found that 11% of the population wagered online in H1 2021. Speaking to The Daily Telegraph about the measure, Financial Counselling Australia Lauren Levin said:

"I hardly ever talk to someone who knows how much they have lost, as the gambling companies like to keep punters in the dark about their losses."

As a result, the statements proposed by the government and research will hope to give a clear account of the spending habits of gamblers. Any consumer that has used their account in the last 12 months will receive an automated email that will break down their gambling activity in terms of the amount won fromgambling and the amount lost.

The email will also come with links to responsible gambling resources, with the government hoping to have an impact on harmful gambling in Australia. There are 52 gambling corporations participating who will support the government’s measure along with another 102 retail bookmakers.

The good news for Australians is that the emails will have a real impact on their gambling habits. In fact, extensive research has indicated that people who are financially literate and do get this breakdown in their email boxes also tend to be much less likely to engage in excessive spending sprees and generally show better restraint and self-control in managing their online gambling habits.

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