If you are planning to gamble in Australia, be aware of the legal framework. In Australia, gambling is regulated through the Interactive Gambling Act (IGA). This Act prohibits gambling from being conducted overseas and prohibits some forms of online gambling. In addition, land-based gambling is regulated by the state and territory governments. The Anti-Money Laundering and Counter-Terrorism Financing Act 2001 (Cth) also applies to land-based gambling operators.
Currently, Australia’s gambling industry generates over $19 billion in annual revenue. But despite the huge profit, the Australian public still loses millions of dollars annually. In fact, the average Australian loses around $533 per month, which is about $1,260 per year. However, problem gamblers often lose tens of thousands of dollars a year.
According to the report, 650,000 Australians participate in pokies at least once a week, and nearly half of them are problem gamblers. A further 115,000 Australians are classified as problem gamblers, while an estimated 280,000 participate in moderate risk gambling. Overall, electronic gaming machines account for 62 per cent of the total gambling expenditure in Australia. Of course, the risk of gambling increases as more people get involved in the activity.
Australia’s gambling industry is regulated by the ACCC, which oversees gambling advertising. These laws are intended to protect consumers and ensure that they do not receive unfair or deceptive services. They also monitor advertising campaigns and websites that promote gambling. In addition, they take appropriate enforcement actions when they notice a problem.
