According to figures released by the Queensland Government, local gambling losses have increased by half a billion dollars to more than AU$5.1 billion ($3.26 billion/€3.07 billion) in the last financial year.
Gambling losses have grown by 11.3% since the previous year
The figures reveal that gambling losses in the state are up 11.3% compared to the previous financial year when losses amounted to AU$4.6 billion ($2.94 billion/€2.76 billion). The losses also exceed the figures for 2018-19 prior to the global pandemic when losses totaled AU$4.3 billion ($2.75 billion/€2.58 billion).
The majority of the losses came through electronic gaming machines (pokies) with AU$3.2 billion ($2.04 billion/€1.92 billion) or 63.2% of all losses attributed to the gaming machine industry. Meanwhile, casino losses accounted for AU$800 million ($512.3 million/€481.6 million).
- Pokies – AU$3.2 billion ($2.04 billion/€1.92 billion)
- Casino gaming – AU$800 million ($512.3 million/€481.6 million)
- Lotteries – AU$642.1 million ($411.1 million/€386.5 million)
- Sports betting – AU$313.8 million ($200.9 million/€188.9 million)
Speaking of the increasing losses, Queensland Attorney-General Yvette D’Ath said:
“It is difficult to predict future gambling expenditure trends with any certainty, given the range of factors that may contribute to these trends. While many Queenslanders like to have a bet, gambling can result in harm to the community.”
Ms D’Ath cited the measures the state has taken to fight problem gambling:
“Queensland club and hotel gaming machines already have a $100 cash load-up limit and a minimum spin rate of 3 seconds per game. And as of July this year, 97 per cent of Queensland venues observe a shutdown period of six hours from 4am.”
Earlier this month, the Interactive Gambling Amendment (Credit and Other Measures) Bill 2023 was introduced to the House of Representatives as the federal government seeks to protect vulnerable Australians and their families from the harms of problem gambling. This will place an outright ban on the use of credit cards to fund online gambling.
According to the latest Global Gambling Statistics, Australians have the highest gambling losses per person in the world with the average gambler losing around AU$1870 ($1200/€1118) per year. This puts Australian gambling losses at about AU$25 billion ($16 billion/€14.9 billion) per year.
Ciaran has been working within the Gambling Industry as a deep analyst since 2019. His deep knowledge and understanding of all the gambling regulations, and processes makes him a true asset, and an always valuable point of view for Gambling Industry News, allowing us to cover every topics from a brand new perspective.