Australians lost a lot of money on Pokies in 30 years

Australians lost a lot of money on Pokies in 30 years

A new survey shows how much money has been spent on gaming machines over the past 30 years. In three decades of play, the survey says at least 135 billion were lost in New South Wales and 66 billion in Victoria.

Pokie machines and how much they cost gamblers

The state of New South Wales has the highest concentration of poker machines in the country, accounting for half of the 200,000 machines available and licensed nationwide, according to the survey. All of these machines are located in accessible points and venues and have been a part of the local pubs and clubs.

Not all of the machines introduced in New South Wales have been done well. At the expense of the general public, the industry has been criticized by the CEO of the Wesley Mission.

Australians lose an estimated $25 billion every year in gambling and at least half of this amount is attributed to poker machines. The executive believes that the problem is worse in New South Wales as the government has allowed businesses to engage in predatory practices.

Gambling is a problem in most of Australia as a pair of high-profile probes into the country’s leading gambling groups resulted in shocking discoveries of systematic financial and regulatory breeches.

The result of these investigations led to the creation of the New South Wales Independent Casino Commission, which has the power to impose fines up to 100 million dollars. The commission hasn’t started work officially. The underlying problem with poker machines is that they are not illegal or breaching any existing laws.

According to the survey and executive, the machines are not regulated in a way that protects consumers. The way in which poker machines are regulated in Australia is something that the Wesley Mission is committed to changing. The recent investigation into Star Entertainment has resulted in meaningful recommendations that have already come to light.

There are more consumer-focused measures now available

The organization is pleased with the Independent Liquor and Gaming Authority’s decision to integrate better player protection measures. The Commission will replace ILGA in the near future. People who are most at-risk of problem gambling and addiction are the ones that the state has outlined measures to protect.

According to a press release, the organization was not against the institution of gambling, but rather against the practices that were linked to consumer harm. The organization says it is in it for the long-term in hopes of effecting meaningful change.

Summary:

According to a new survey, Australians lose an estimated $25 billion every year in gambling and at least half of this amount is attributed to poker machines. In three decades of play, the survey says at least 135 billion were lost in New South Wales and 66 billion in Victoria.