Author: fx-dealer

Albanese changes position on gambling advertisement prohibitionAustralian Prime Minister Anthony Albanese has modified his previous position concerning a possible prohibition on gambling advertisements. Initially, there were strong signs that his administration was contemplating considerable limitations on gambling ads, responding to increasing public and political demand to restrain their impact. However, in a recent announcement, Albanese…

New classification guidelines for gambling-related content in video gamesBeginning September 22, 2024, Australia will implement compulsory classification guidelines aimed at gambling-related content in video games. Games that include loot boxes or similar gambling features will now be assigned a stringent minimum rating, providing clearer direction for gamers and guardians. Any title that utilizes simulated gambling—where…

Regulatory measures against Star EntertainmentThe Independent Casino Commission of New South Wales (NICC) has officially delivered a notice to Star Entertainment, requesting clarification regarding possible infringements of its licensing stipulations. This step marks a significant point for the casino operator, which has been under increased examination following regulatory inquiries. Star Entertainment, a significant entity within…

Young Australians and changing gambling patternsA recent investigation titled Bets ‘n’ Booze, carried out by the Australian Institute for Family Studies, uncovers a significant trend in gambling behaviors among young Australians. The findings show that an astonishing 45% of individuals within the ages of 16 to 35 engage in betting at least once weekly. This…

Gambling losses in Australia: A global comparisonA recent investigation has revealed that Australians incur the highest gambling losses in the world, averaging AU$6,635 per person annually. This statistic positions Australia at the forefront of the global leaderboard, surpassing other gambling-centric countries like Singapore and the United States. The research indicates that electronic gaming machines (pokies)…

Tabcorp’s revenue reduction in fiscal year 2024Tabcorp has announced a 3.9% reduction in revenue for the fiscal year 2024 when compared to the prior year. This slide has placed stress on one of Australia’s leading bookmakers, indicating difficulties in the wagering landscape. The overall revenue for the year dropped from the previous fiscal year, mirroring…

Proposed gambling tax and its consequencesThe Australian Institute is advocating for a 2% tax on gambling earnings, asserting that this measure will help alleviate the societal issues linked to betting. This suggested tax is anticipated to be enforced across all gambling entities, encompassing online bookmakers and casinos. Although legislators argue that this initiative will yield…

Advocacy for a nationwide prohibition of gambling advertisementsThe Alliance for Gambling Reforms has taken a courageous step, releasing an open letter that advocates for a complete prohibition of gambling promotions throughout Australia. This advocacy group asserts that the omnipresence of these advertisements normalizes wagering and exposes vulnerable populations, including minors, to the dangers associated with…

Labor government’s view on gambling advertisement limitationsThe Labor Government of Australia has clarified that it will not advocate for a total ban on gambling advertisements. Instead, it is adopting a more balanced approach, weighing industry considerations against public apprehensions. This decision comes in the wake of ongoing discussions regarding the impact of gambling ads, especially…

ACMA broadens block list with additional illegal gambling websitesThe Australian Communications and Media Authority (ACMA) has tightened its regulation on illegal online gambling yet again, incorporating two more sites into its expanding block list. These recent actions highlight the agency’s persistent dedication to combatting unlicensed operators that cater to Australian gamblers. The newly prohibited platforms…