In a report released by the Australian Federal Productivity Commission this week, the commission recommended that the nation’s online gambling ban be lifted. Internet gambling in Australia represents about 4 percent of the national market.
Reforms are needed
The report suggested that Australia’s ban on online gaming has not been successful for a number of reasons. There is little protection for any Australian citizen that is currently gambling abroad on sites. The commission feels that a lifting of the ban would help protect online gambling customers in the country.
“In its unregulated form, online gaming is available 24 hours a day, allows credit betting, has no intrinsic restrictions on bet size,” states the report. “The commission recommends that the Australian government allow online gaming subject to a strict regime of consumer protection.”
According to the report, gamblers in Australia spend (lose) over $18 billion per year. This figure includes nearly $12 billion on poker machines. The commission is addressing some of the social costs of gambling. One of the proposals would reduce the amount of money that a player could lose in a given time. Lower limits would be set on wagers per button push and the amount of money that could be fed into gambling machines.
Nation concerned about problem gamblers
While the regulation of online gambling is being addressed by Australia, the country also feels that the issue of problem gambling is a concern. According to the report, problem gamblers account for about 15 percent of gaming machine usage in the country. The commission feels that an additional 15 percent of gamblers face moderate risks due to their wagering tendencies.
Overall, there are about 125,000 problem gamblers in Australia with nearly 300,000 in the moderate-risk category. Based on report calculations, a 10 percent reduction in harm would result in an annual half billion dollars gain for society.
click here to see most Popular PagesOne of the main concerns in the country involves the amount of poker machines in Australia. There are about 200,000 poker machines in the nation and the amount has increased by about 15,000 over the last decade. About 85 per cent of problem gambling is linked to these machines.
The report also suggests that shutdown times at gaming venues need to be altered. The current break periods are too brief and are conducted at the wrong time, according to the commission.
A complex issue
While it is a noble task by Australia to address problem gambling, there are many issues related to gambling that aren’t a negative. Gambling is enjoyed by millions of people around the world everyday. Only a small percentage of these people would be considered problem gamblers. Regulated gambling accounts for millions of dollars for governments throughout the world. The ban on online gambling in Australia does more harm than good in the long run. If the commission’s recommendation to lift the ban is approved, regulated online gambling can provide a major lift to some of the issues of concern in the country.
