Article: Australian gamblers lose a record $24b in a year

[omonuyak]

That is a very huge amount of money that can fund budget in some states of my country of origin. Gambling is really addiction for some that have benefits from it. I have been trying to see reason that the gambling company are far richer than some African countries as most of those loses fund do flow back to them.

[1714065712]

1714065712

[Don Pedro Dinero]

Some people wonder whether to invest in casinos is profitable, you only have to see news like this to see how profitable casinos are. The best strategy to make money in casinos is to be the owner, or at least one of the investors.

As for pokies, a friend of mine works in the casino industry and he tells me it is the most profitable game (for the casino), so I’m not surprised the main amount is lost playing them.

[Panda Trump]

The Age, Melbourne, Australia
Nick Toscano

Australian gambling losses have hit an all-time high after punters burned through nearly $24 billion in a year, more than half of which was poured into poker machines at pubs and clubs across the country.

New government statistics reveal pokies losses grew 4.2 per cent nationally, roughly double the rate of inflation to reach $12 billion in 2015-16, while sports betting remained the fastest-growing form of gambling.

More:

http://www.theage.com.au/business/australian-gamblers-lose-a-record-24b-in-a-year-20171201-gzwr30.html

The largest WTF of this is that Australia's population counts only 24 million people... That means $1000 gambling loss per person.

According to an article published at TheWeek, Americans lose about 120 billion USD per year.
With a population of over 330 million, that accounts to about $350 gambling losses per person.

The average Dutch citizen loses only $200/year due to gambling.
Though I must say... I'm Dutch too and I don't gamble. I also don't know many people who gamble, so it's probably a small group losing a lot of money, making it look like every single person in Australia wastes a lot of money on gambling purposes.

Quite an impressive amount though... $24b could be spent so much better, like on research to agricultural development, asteroid mining technology, renewable sources of energy generation, etc!
Sad actually, if you think about it...

[Vannie12]

Well that amount is no small pocket change especially if it is only for Australia. I honestly thought only the USA and Asian countries was the gambling type. Now if this losses are true i am sure the government would still get some kind of tax that they can use for like schools and so forth  like they do in the USA.

I agree with you. Sometimes hobbies becomes addicting triggered by money as capital and investment.
And I think Asian such as my country, are prone to gambling addiction due to unemployment and Unfinished studies due to poverty. In short socio-economical status may be one of the reasons. The need to gamble and obsession to earn big leads to loses.

[icanscript]

Unfortunately, we operate with the statistics of 2014. It is possible to collect statistical data on lost money, today it is not possible. In particular, this is due to crypto-economics.

[Juggy777]

The Age, Melbourne, Australia
Nick Toscano

Australian gambling losses have hit an all-time high after punters burned through nearly $24 billion in a year, more than half of which was poured into poker machines at pubs and clubs across the country.

New government statistics reveal pokies losses grew 4.2 per cent nationally, roughly double the rate of inflation to reach $12 billion in 2015-16, while sports betting remained the fastest-growing form of gambling.

More:

http://www.theage.com.au/business/australian-gamblers-lose-a-record-24b-in-a-year-20171201-gzwr30.html

Haha 24Billion in gambling that's quite a huge amount, look like Australia is turning out to be a bigger hub for Bitcoins gambling, I knew Australians liked to gamble but to gamble so much and so high is crazy. This shows that bitcoin is being quiet popular in Australia and this a good thing. I am sure on my next trip there I'll definitely play out there, gambling casinos hubs are always welcome. Plus the very fact that they like to gamble with bitcoins is a big plus.

[adaseb]

Unfortunately, we operate with the statistics of 2014. It is possible to collect statistical data on lost money, today it is not possible. In particular, this is due to crypto-economics.

Those statistics are based on records which are verifiable. Basically most first world nations with a regulated casino industry have these records.

I still don't think Australian gamblers however are the biggest.

Take Vegas for instant. I am pretty sure they generate more than 24b in revenue every year. Just look at the MGM stock minutes and they give you partial data to this.

The crypto-gambling profits and losses are probably impossible to verify. At least not yet.

[cruso]

Australia has a big gambling problem, no surprise here. They are the worlds most prolofic gamblers based on income per capita spending. Pokies are situated everywhere you look, and there is no single pub without one. Aussies like Brits love a flutter, and I know a lot of people that have lost jobs and important relationships to this disease. The government introduced regulations to help fight the problem but I don't see it working. this will worsen until there is a complete ban on gambling.

[william_hant]

Ok, so lets cut to the chase.....

Who know any good poker sites based in Australia?

Asking for a friend.....

[bering]

those statistics indeed was terrible records but gambling is personal especially for those who being an gambling addicted never thinking about those statistics and the statistics possibly to increase for every year however spend 24 Billion only at the gambling tables i think australia government should be thinking alternative way to decrease those numbers because in my view the statistics showing that plenty people are being addicted gamble in that country

[kobradobra]

They are maniacs when it comes about pokies  Also AFAIK the average annual lose per capita (adult) is more than 1000$. So yeah, ossies rule!!