On Wednesday, a parliamentary committee of inquiry suggested that Australia phase out online gambling advertising in three years to reduce “havoc” in the world’s largest betting industry.
The committee produced 31 suggestions to regulate online gambling, which it said was transforming sport culture, and support addicts in Australia.
In the “You win some, you lose more” study, committee chair Peta Murphy stated that Australians spend more on internet gambling than any other nation.
“This is wreaking havoc in our communities,” Murphy warned.
Murphy said internet gambling companies advertise cleverly alongside sports, normalizing it as a fun, innocuous, and social activity.
Murphy said young Australians saw gambling and sport as intrinsically linked, transforming sports culture.
“Australia would be diminished if sport was so captured by gambling revenue that providing an opportunity for betting came to be seen as its primary purpose,” Murphy warned.
The panel recommended a progressive, comprehensive ban on gambling advertising in all media, broadcast and online, with no loopholes.
It suggested phasing the ban over three years to give sports organizations and broadcasters time to find new advertising money.
Online gambling companies like London-listed Flutter Entertainment PLC (FLTRF.L), owner of Australia’s most popular betting app Sportsbet, Entain PLC (ENT.L), and Tabcorp Holdings (TAH.AX) would be hit hard by the prohibition.
Australia has the highest per-person gambling losses. Public inquiries have criticized big casino operators for money laundering lapses.
After the COVID-19 outbreak closed public places, gambling increased online.
Prime Minister Anthony Albanese said the administration would consider the suggestions.
“We need to deal with online issues, social media issues, we need to deal with it comprehensively across the board,” Albanese said on ABC Gold Coast radio.
