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Simple new strategy to stop problem gamblers losing everything

Every holder of an online betting account in Australia will now receive a monthly statement detailing how much money they have won and lost. 

The emails begin on July 31 and are part of measures to combat problem gambling introduced in the 2018 Consumer Protection Framework for Online Wagering in Australia. 

Australians lose an average of $1,276 a year on online betting, Online Betting more than any other country.

The massive industry is the fastest growing platform of gambling, expanding at three times the rate of other avenues, as Australians pour about $1.4 billion a year into online wagering sites. 

Online punters will now get a monthly statement detailing how much they've spent, won and lost under new rules (stock image)

Online punters will now get a monthly statement detailing how much they’ve spent, won and lost under new rules (stock image)

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Research by the Australian Communications and Media Authority found about 11 per cent of Australians placed a bet online in the first six months of 2021 – about 2.6 million people. 

The statements will clearly show the total amount a customer wagered that month, how much they won, how much they lost, the number of bets placed, and online betting a graph tracking their gambling activity over six months.