Money Australian gamblers lose a record $24b in a year

13:37  06 december  2017
13:37  06 december  2017 Source:   smh.com.au

Foreign high-roller gamblers return to Australia

  Foreign high-roller gamblers return to Australia Wealthy foreign gamblers are returning to Australian casinos in large numbers, and analysts are forecasting the strong growth to continue. VIP casino programs in Australia suffered massive setbacks after the arrest and jailing of Crown Resorts staff for illegally promoting gambling in mainland China last year.At Crown, revenue from the casino giant's VIP program was almost halved as a result, falling from more than $1 billion in 2016 financial year to about $605 million in 2017.

Australian gambling losses have hit an all-time high after punters burned through nearly $ 24 billion in a year , more than half of which was poured into poker machines at pubs and clubs across the country. New government statistics reveal pokies losses grew 4.2 per cent nationally

Australian gamblers lose a record $ 24 b in a year . Australian gambling losses have hit an all-time high, with punters burning through nearly billion in 12 months, more than half of which was poured into poker machines at pubs and clubs across the country.

Australians lost $11 billion on the pokies last year.© John Woudstra Australians lost $11 billion on the pokies last year.

Australian gambling losses have hit an all-time high after punters burned through nearly $24 billion in a year, more than half of which was poured into poker machines at pubs and clubs across the country.

New government statistics reveal pokies losses grew 4.2 per cent nationally, roughly double the rate of inflation to reach $12 billion in 2015-16, while sports betting remained the fastest-growing form of gambling.

Pokies accounted for the largest share of losses ($23.6 billion), followed by casinos ($5.2 billion), racing ($2.9 billion) and Lotto ($1.9 billion).

The Aussie tash raises serious cash

  The Aussie tash raises serious cash Men's health charity Movember is expecting to beat a fundraising record, with an increase in participation in 2017.More than 70,000 Australian 'Mo Bros' and 'Mo Sisters' participated in the month-long fundraising drive in 2017, a five per cent jump on 2016 when $80 million was raised.

Image caption Australians lost a record $ 24 bn while gambling last year . A poker machine manufacturer has been sued in Australia 's Next year , a national self-exclusion register is due to start to allow problem gamblers to effectively ban themselves from all online gambling sites and apps.

Online betting accounts for a third of the losses, and a record £1.7bn was gambled away on fixed-odds betting terminals.

The surge in sports betting, up 13 per cent on the previous year, was largely fuelled by the expanding popularity of internet and app-based wagering. But sports betting still takes a comparatively smaller share of Australia's overall gambling losses, with expenditure of $920 million.

An anti-pokies lobby group, the Alliance for Gambling Reform, said the damning figures should prompt urgent political action to start bringing yearly gambling expenditure at least below $20 billion.

"Whilst sports betting is top of mind with the advertising deluge ... the latest national figures once again confirm that the pokies are easily the biggest contributor to Australia's tragic status as the world's biggest gamblers," alliance spokesman Tim Costello said.

Smith wins two-man playoff at Australian PGA Championship

  Smith wins two-man playoff at Australian PGA Championship Cameron Smith won the Australian PGA Championship on Sunday with a par on the second hole of a playoff with fellow Australian Jordan Zunic. Both players were off the 18th green for their third shots, but Smith put his within 4 feet and made the putt after Zunic missed from about 12 feet.Smith, who finished fourth last week in the Australian Open, closed with a 3-under 68 and Zunic had a 71 to finish at 18-under 270 at Royal Pines.Smith bogeyed the 18th in regulation after birdieing the 17th to take the lead. Zunic had eight consecutive pars on the back nine after he bogeyed the 10th.

British gamblers lost a record £13.8bn in the year ending September 2016, including an all-time high of £1.82bn on controversial fixed-odds betting terminals (FOBTs). Each machine brought in an average of £52,887 a year , according to the figures, about twice the national average wage.

Even when you’re losing while you’re gambling , your body is still producing adrenalin and endorphins – Mark Griffiths, Nottingham Trent University. This is because of how gamblers ’ expectations of winning change during a losing streak. Robb Rutledge, a neuroscientist at University College, London

"Politicians and regulators across Australia should be actively managing down annual losses to below $20 billion, not standing around doing little as they continue to grow faster than the broader economy."

Journeyman goalkeeper steals Gattuso's thunder

  Journeyman goalkeeper steals Gattuso's thunder AC Milan's visit to bottom-of-the-table Benevento on Sunday was supposed to be all about Gennaro Gattuso as the famously combative former midfielder made his debut as coach of the seven-times European champions. Instead, Gattuso's thunder was stolen by a 26-year-old goalkeeper who has spent the last two years being shunted around clubs on loan and struggling to hold down a first-team place.

Australia .- Australians have lost a record amount of money to gambling after reaching US.3 billion, the government revealed. Gamblers merely lost US6k to Sports betting despite the expanding popularity of online and app-based wagering but still jumped 13 per cent year -on- year .

After six years of being enslaved to a severe gambling habit, Sommerville sought help and stopped in 2007. Prior to her gambling addiction, Sommerville suffered from restless leg syndrome, and studies A national problem. Australians are the world's most prolific gamblers , based on per capita spending.

The Australian Gambling Statistics released last week is the most comprehensive set of all state and territory gambling data and is compiled by the Queensland government.

The release of the new data comes as the pokies industry has been embroiled in renewed controversy and the issue of problem gambling faces national attention.

An unprecedented lawsuit launched in September by a former gambling addict, which remains before the Federal Court, has aired allegations that the features of a popular model of poker machine, Dolphin Treasure, are unlawfully deceptive and designed to addict users.

The massive growth in sports betting is outstripping other forms of gambling.© Tamara Voninski The massive growth in sports betting is outstripping other forms of gambling. Weeks later, billionaire James Packer's flagship casino, Crown Melbourne, was hit with damaging accusations in federal Parliament from unidentified gaming-floor technicians that they had been ordered to tamper with poker machines to ensure punters lost more money, claims that Crown denies.

And, last month, supermarket giant Woolworths' annual general meeting was dominated by shareholder scrutiny of its majority-owned Australian Leisure and Hospitality Group, which runs hundreds of pokies-owning pubs.

Four record suburb sale prices made despite Canberra's wet weather

  Four record suburb sale prices made despite Canberra's wet weather The rain didn't stop bidders breaking four records at Canberra's house auctions on Saturday.New suburb records were made in Franklin, Waramanga, Aranda and Griffith, totalling almost $7 million dollars in sales.

Last year UK gamblers lost a record £13.8bn, as operators made it harder than ever for skilful customers to place a bet. Regulation is urgently needed.

Restoring Australia 's only surviving B- 24 Liberator. Welcome to. B- 24 Liberator. Memorial Australia Inc.

In response to sustained questioning from the Alliance for Gambling Reform at the meeting, Woolworths said it treated calls for reform seriously and would compile data on proposals including $1 bet limits, $200 EFTPOS daily withdrawals limits over the bar at venues, and cutting opening times from up to 20 hours a day.

"The first thing is to get the data, and the next logical step would be to say, if we trial this, does it actually reduce the incidence of problem gambling?" Woolworths chairman Gordon Cairns said.

"And if there's a compelling analysis coming out of that, then we've committed to coming back and reporting them."

With more than 12,000 poker machines across its venues, the Woolworths-controlled ALH Group is the largest pokies operator in the country.

A spokesman for ALH Group said the company was an industry leader in tackling problem gambling, and the only pokies operator to provide systems for punters to pre-set time or spend limits on every gaming machine it owns on mainland Australia.

Former pokies addict Shonica Guy (left) and lawyer Jennifer Kanis have launched a landmark Federal Court case.© Joe Armao, Fairfax Media. Former pokies addict Shonica Guy (left) and lawyer Jennifer Kanis have launched a landmark Federal Court case. ALH also heavily promoted employee and customer awareness about gambling risks through a "responsible gambling ambassador", the former AFL footballer and reformed problem gambler David Schwarz. And it offered a self-exclusion program under which punters could limit thier access to slot machines by banning themselves from one or more gaming venues, the spokesman said.

Investors launch class action against Crown over China scandal

  Investors launch class action against Crown over China scandal An investor class action is set to test whether the gambling giant was open about the risks it was taking. The class action will be officially launched this week by plaintiff law firm Maurice Blackburn, which has been investigating a class action since February.It alleges Crown failed in its continuous disclosure obligations as an ASX-listed company but also that it engaged in misleading and deceptive conduct in its public statements about the prospects in the Chinese market.

Pathological gambling , as the part of obsessive-compulsive disorder, requires the higher doses of antidepressants as it usually required for depressive A limited study was presented at a conference in Berlin, suggesting opioid release differs in problem gamblers from the general population, but in a

In a typical year Australians lose AUbn (£12.3bn) betting, with bn of that poured into nearly 200,000 poker machines. According to the Economist, Australian adults lose an average of US,300 each a year gambling , easily the highest in the world.

According to the fresh gambling statistics, New South Wales has the most poker machines of any state, and also had the biggest increase in pokies losses in 2015-16, a rise of 6.2 per cent. Pokies losses in NSW topped $6 billion, accounting for nearly half of the Australia-wide total. And it was the first time in 10 years that the state's pokies losses exceeded $1000 per capita.

Mr Costello said Australia lost more money gambling per capita than any other country. Data from global consultancy H2 Gambling Capital puts Australia's total gambling losses per resident adult at about $1000 a year, the highest amount in the world.

"The best that can be said about the latest national gambling statistics is that at least the 2014-15 growth rate of 7.7 per cent to $22.7 billion has slowed to an increase of 3.9 per cent," Mr Costello said.

"But when you are the world's biggest gamblers and 40 per cent clear of the next country, Singapore, in per capita terms, it is nothing to celebrate."

Despite rising overall gambling losses, the hotels industry said the rate of problem gambling was, in fact, declining.

Australian Hotels Association chief executive Stephen Ferguson said less than 1 per cent of the population was affected by problem gambling.

"The Productivity Commission noted in its 2010 report that the prevalence of problem gambling had declined," he said, "and recent state and territory surveys have shown this trend to be continued."

Perry not surprised by WBBL batting blitz .
Australian cricket star Ellyse Perry isn't surprised by the batting blitz which resulted in several new records on day one of the WBBL season.The eight-team T20 competition got off to a spectacular start with batting records set in all three opening-day games on Saturday.

—   Share news in the SOC. Networks
This is interesting!