Monthly statements detailing losses to help combat problem gambling online

Australians who use online betting accounts will be sent a monthly statement outlining their wins and losses as part of new initiatives to curb problem gambling.

Every Australian who uses an online betting account will receive a monthly statement from next week outlining their wins and losses under new rules to help problem gamblers.

With Aussie gamblers losing more than any other country in the world, the new statements are based on behavioural ­research that found punters bet less after viewing them.

Problem gamblers or those with “false gambling ­beliefs, loss-chasing tendencies and lower financial literacy bet substantially less when they saw an activity statement”, ­according to government ­research.

The country’s 52 corporate gambling providers and 102 on-course bookmakers were consulted about the changes that will impact more than a million Australians.

The changes will force ­online gambling providers to ­provide clear and accessible accounts, and were welcomed by Lauren Levin, director of policy and campaigns with Financial Counselling Australia.

Aussie gamblers lose more than any other country in the world. Picture: Getty Images

“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,” she said.

“So, it is fantastic that the companies won’t be able to withhold this information ­any more.

“Finally, punters are getting some tools to help, which is a relief as financial counsellors are seeing a lot of addiction and gambling harm, and that impacts the whole family.”

Social Services Minister Amanda Rishworth said the Albanese government had ­prioritised the statements which are part of the National Consumer Protection Framework for Online Wagering that was signed in 2018.

“The development of these activity statements has been informed by behavioural research to mean that they will actually work,” she said.

“Providers have worked constructively with government, and the aim is that problem gamblers are prevented from spiralling into debt.”

The statements will be sent from July 31 and are part of Australia’s biggest package of online wagering reforms ­commenced by the previous government.

Aussies lose more than $1276 a year per capita, higher than any other country, according to government data, which also found that problem gambling has doubled from 0.6 per cent of the population in 2011 to 1.23 per cent in 2019.

And online gambling that falls in the “problem” category is almost three times the rate of ­pokies, at 3.9 per cent compared to the 1.4 per cent of land-based bets.

The new statements will be provided monthly, but only when an account has been used. They will operate on a “cash accounting” basis and mark losses in red.

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