Online casino´s will have to issue players ‘Monthly win/loss statements’

Article by Lisa Cheban
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Last Updated: Feb 19th, 2024 Share On Your Network:

Lisa Cheban | 26 July, 2022 12:19 | Last update on: 26 Juli, 2022 12:19

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From now on, a law proposed in 2018 will be activated which makes it mandatory for online casino´s to issue their players a monthly win/loss statement. These statements will show their monthly activity just so their players have an insight in how much money they are spending on gambling on a regular basis.

Issuing regular statements is part of the country´s consumer protection framework for online wagering, which is a framework that was approved by lawmakers in 2018. The statement that is going to be issued by the online casino´s will consist out of information like how many bets were placed by the player and how much the player had won or lost in the last month. Also, an oversight will be given about the gambling activities in the prior six-month period. This will show whether the player started to play less or more in the last half year.

In addition to the financial overview, online casino´s will also have to provide the users with available responsible gambling programs and resources. Which is all part of the Australian responsible gambling initiatives.

Moreover, the Australian government announced earlier that they are going to introduce BetStop to their players. Which is a register where users can self-exclude themselves from online casinos. If a player registers to Betstop for a certain period of time, the player won´t be able to play in any online casino in Australia.

Meanwhile, online wagering is getting more and more popular. About 11 percent of the population placed an online bet during the first 6 months of 2021. On Average the Australian player lose around AU$ 1,276 per year through gambling. This seems like a high number. However, at the same time Australians spend much more money on other forms of entertainment. Study shows that less than 1% of the gamblers fall into the high-risk gambling category.

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