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Australian Gamblers Bet the Most Amount of Money on Current Events

Online gamblers in Australia will soon have limited access to locally licensed sites as the government in the country puts up new consumer protection mechanisms.

This past weekend, the Aussie government posted findings from a consumer protection program it has been developing. The frame was ratified by all governments in 2018 and features ten standards for online gambling that the central government is currently implementing.
A key recommendation in the study was that the central government prioritizes development and the implementation of local self-exclusion register. This past Wednesday, Paul Fletcher, the Communications Minister, tabled laws that will be used to establish a voluntary online national self-exclusion register.

Once the register has been implemented, it will give gamblers the opportunity to restrict themselves from accessing licensed apps and betting websites in Australia at the same time. Punters can restrict themselves from accessing betting services for three months or permanently.

Once a gambler signs up on the self-exclusion register, a betting operator will be required to issue a refund on pending settlements and close the customer’s account. Betting operators will also be prohibited from targeting anyone in the register with betting adverts.

Implementation of this new development will be the sole responsibility of the Australian Communication and Media Commission (ACMA). However, set up costs for the register, and the whole process will be taken care of by all betting operators.

Baseline data processed by the Institute of Family studies generated doubtful figure that more than 52 percent of the 5076 participants who were surveyed were at risk are were already going through issues brought on by gambling. Nevertheless, the data also indicated that most participants did not consider themselves to be going through gambling-related problems.

Of all the consumer protection measures readily available in Australia’s betting market, deposit limits are the most active at 13.2 percent, followed closely by un-subscribing from targeted marketing at 11 percent and them spending limits at 10 percent.

Other findings indicate that horseracing has the most number of wagers at 75 percent, well ahead of different activities like sport, which stands at 52.9 percent and greyhound racing’s 31.7 percent. At the bottom are eSports (2.6 percent) and current affairs (2.7 percent).
Women make up about 23 percent of the gamblers, and they seemed to be well represented in television events at 32.7 percent, which is a surprisingly higher number than those who take part in horse racing (23.6 percent).

Close to 46 percent of the participants had a single wagering account, while a fifth hand more than three. About 13 percent of the participants confessed to having opened a wagering account with unlicensed international operators, while another 2.7 percent decided not to respond to this question.

Source: https://calvinayre.com/2019/11/27/business/australian-bettors-wager-most-money-current-events/

About the author

Catherine Wambui

Catherine Wambui

Catherine Nyaga is a freelance writer covering Real Estate and Technology. Her other interests include Nature, pets and accounting. She recently graduate from Nairobi University with a degree in Accounting.

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