All over Australia, new laws are being introduced to address problem gambling. These regulations are in line with the Consumer Protection Framework for online betting. The framework was approved by lawmakers in 2018 but did not come to life until recently. After updating them in May, the authorities announced that the new regulations will take effect on July 31st, 2022.
Accordingly, iGaming consumers in this jurisdiction will soon enjoy better protection and improved services. From August this year, online gambling operators in Australia must issue monthly statements to all their customers.
Content of the Report
When preparing the reports for the players, operators are to include details of all their iGaming activities. The main reason for introducing this system is to help them keep track of their regular spending on the websites and try to gamble responsibly.
In the monthly statement, users will see how much they have spent on bets and the amount they won or lost. It will also contain a graph displaying their gambling activity over the previous six months, as well as the number of bets they placed in each month. The statement will also contain details on responsible gambling resources and programs that are available to the players.
How Will it be Implemented?
The operators will be in charge of making sure that each of their clients receives the statements. They are to send them to the players via email. The only accounts that will be exempt are those with no activity over the past 12 months.
Furthermore, Australia’s national self-exclusion registry will be launched at the end of the month. To join this register, employees of online gambling operators are required to undergo training on responsible gambling.
The Australian government conducted research before implementing the new rules. According to its findings, the initiatives can have a positive impact on the wellbeing of the players. In other words, sending activity statements to iGaming customers can help them cut back on their unnecessary spending.
Research: Online Wagering is Still Popular
In a recent study by the Australian Communications and Media Authority (ACMA), it was discovered that 11% of people had bet online at some point in the first half of the previous year. Given the small percentage, there is not much cause for concern. The ACMA did note, however, that Australians lose about AU$1,276 (US$887) annually through gambling.
Even so, it does not necessarily mean that there is a problem. The average cost of other forms of entertainment, such as going to the movies or eating out, is much higher. In just three or six months, many people will spend at least that much. Sadly, the ACMA failed to say whether its statistics represent the average for the entire population or just the 11%.
Australia does not have a sizable problem-gambling industry, according to numerous studies. And that goes without taking a variety of controls into account. One study, for instance, found that fewer than 1% of people, or about 56,000 people, would be considered high-risk. Only an additional 1.4% to 2.1% are at moderate risk.
Australia’s Monthly Statement is Sensible!
Despite the present relatively positive situation with online gambling in Australia, it makes sense to introduce a monthly statement. It is advantageous to gamblers and bettors without feeling overly controlled by the government. Once they have overcome their initial curiosity, the majority of gamblers who place bets for entertainment value are likely to disregard the effort. This development can be likened to the new rules recently introduced in the United Kingdom. For more information about this new law in Australia, you may download the Consumer Protection Framework. You can read other interesting online casino news on our website.