Australia

SETTING LIMITS MAKES A DIFFERENCE, BUT GAMBLERS NEED MORE PROMPTS TO OPT-IN

Published

3 years ago

January 17, 2022

Reading Time: 2 minutes

CQUniversity researchers have found bet limits can help keep Australia’s online gamblers out of hot water, but the majority of consumers aren’t using the money-saving mechanism.

In a new study funded by Gambling Research Australia (GRA), experts at CQUniversity’s Experimental Gambling Research Laboratory (EGRL) found consumers are not always prompted to use the betting limit option. The new research further suggests making the scheme mandatory and capping maximum limits would strengthen harm prevention.

Researchers surveyed more than 3,000 regular race and sports bettors and found 41 per cent had set a deposit limit, but more than half considered themselves ‘unlikely’ to set one. Those participants who set limits found them very useful, with a quarter finding the intervention prevented overspending at least once a week.

European Gaming Congress 2024 (Warsaw, Poland)

Since mid-2019, Australian online betting agencies have been required to let consumers set deposit limits for their online gambling, and to regularly prompt users about setting up or reviewing their limits.

Lead author and CQUniversity Research Professor Nerilee Hing, said consumers had a choice of limits with some operators. Research found deposit restrictions were the most popular, followed by an overall spend limit, a single bet amount limit, and a loss limit. A limit on the time spent gambling was the least popular among participants, with just 22 per cent switching on the clock.

“We also looked at what type of person was more likely to set limits. Of those with more serious gambling problems, 45.6 per cent were setting at least one limit,” Professor Hing said.

“This is encouraging, however as this group benefits the most from opt-in limits, the fact that more than half aren’t taking that option suggests there’s still a need to address why people are unwilling to limit their betting.”

Professor Hing and her team then presented participants with a series of tailored messages about bet limits and tested these in a randomised trial with more than 1,200 regular consumers.

Across the four-week trial, limit setting increased among participants, with 32 per cent adopting at least one type of limit. Those with a severe gambling problem were significantly more likely to set a limit.

“The study showed that prompt messages need to be consistent to allow gamblers to self-reflect. Then we see better uptake of limits,” Professor Hing said.

This research supports evaluation of the voluntary opt-out pre-commitment measure and refinements to strengthen the National Framework. A joint Commonwealth, state and territory government endeavour, the National Framework provides protections for consumers of interactive wagering services licensed in Australia, in line with international best practice.

Gambling Research Australia (GRA) is a joint Commonwealth, state and territory program, established to develop an effective evidence base to support gambling policy and regulatory decisions. The Commonwealth has contributed half the annual funding of the GRA program. The combined funding contribution from states and territories has matched the annual funding from the Commonwealth, based on the proportion of national gambling expenditure.

Study co-authors were CQUniversity researchers Prof Matthew Browne, Dr Alex M T Russell, ProfMatthew Rockloff and Catherine Tulloch.

Australia

VGCCC: Bookmaker Fined for Customer Safety Breaches

Published

5 days ago

January 17, 2025

Niji Narayan

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Reading Time: 2 minutes

Registered online bookmaker VicBet has been fined $130,000 for 2 breaches of its customer care obligations.

Announcing the fine, Victorian Gambling and Casino Control Commission (VGCCC) CEO Annette Kimmitt AM reminded the gambling industry of the potential for people to experience severe harm when rules are not followed.

“Breaches can have serious consequences, not only in terms of punitive actions against the companies we catch out, but for people whose lives are affected by this behaviour,” Ms Kimmitt said.

“It is an egregious betrayal of trust, for example, to continue to send marketing materials to a person who has self-excluded from a gambling venue or closed a betting account.”

The VGCCC’s investigations into complaints about VicBet found the bookmaker had:

• offered and provided a $1,800 bonus bet to a customer after they asked for their betting account to be closed in September 2022. VicBet was fined $50,000.

• repeatedly sent gambling promotional material to a customer after they permanently self-excluded from VicBet in March 2020. The penalty was an $80,000 fine.

It is an offence for a bookmaker to encourage or offer any credit, voucher or reward, or other benefit to induce an account holder to keep an account open after they have requested its closure.

Similarly, sending correspondence or promotional material to customers who have self-excluded contravenes the Victorian Bookmakers’ Association Code of Conduct.

“On these occasions, VicBet failed to live up to both its legal and social licences to operate, which include minimising the risk of harm to customers,” Ms Kimmitt said.

“Industry must respect the wishes of people who decide to have a break from, or quit, gambling. This means taking all reasonable steps to enforce harm prevention initiatives that customers commit themselves to, such as self-exclusion programs.”

VicBet was given the opportunity to “show cause” as to why disciplinary action should not be taken. Submissions from its legal representative were considered prior to a determination being made.

The post VGCCC: Bookmaker Fined for Customer Safety Breaches appeared first on European Gaming Industry News.

Australia

Michael Fitzsimons Joins Tabcorp as Chief Wagering Officer

Published

5 days ago

January 17, 2025

Niji Narayan

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Reading Time: 2 minutes

Tabcorp Holdings Limited has appointed Michael Fitzsimons as its Chief Wagering Officer.

Mr Fitzsimons will oversee all core wagering functions including digital, retail, tote, trading, product and marketing. The position is part of the company’s evolved Executive Leadership Team structure, which was announced in December last year. The simpler structure will ensure all wagering functions will fall under one executive.

Mr Fitzsimons has over 20 years of global sports betting experience across the EU, US and Asia. He is currently Executive Director Wagering at Hong Kong Jockey Club (HKJC) where he leads strategy, trading, marketing, data and product development for fixed odds, parimutuel and lottery products.

His current role encompasses oversight of one of the world’s largest totes, including the World Pool platform, along with Risk Management of China Sports Lottery’s 120,000 betting branches. Prior to his role at the HKJC, Mr Fitzsimons was Director of International Trading and Operations at The Stars Group. During this time, he successfully launched the PokerStars Sportsbook and relaunched SkyBet in Germany and Italy. Mr Fitzsimons is on the executive of the World Tote Association (WoTA).

Tabcorp Managing Director and Chief Executive Officer elect, Gillon McLachlan, said: “Michael Fitzsimons is one of the world’s most sought after wagering executives and brings extensive global sports betting experience to Tabcorp. He has a deep knowledge of international sports betting, trading and tote. Michael is a rare find – he knows digital and retail wagering and is one of the few people in the world who can connect both to grow a wagering product.

“The creation of a Chief Wagering Officer is a significant uplift in wagering capability within our executive team. The simpler vertical structure brings all levers that grow wagering together under one executive to ensure first class execution.”

Mr Fitzsimons is expected to commence in the first half of 2025. His appointment is subject to relevant regulatory and probity approvals.

The post Michael Fitzsimons Joins Tabcorp as Chief Wagering Officer appeared first on European Gaming Industry News.

Australia

Regulating the Game Announced New Money Laundering, Terrorism Financing Masterclass at 2025 Conference

Published

6 days ago

January 16, 2025

Niji Narayan

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Reading Time: 2 minutes

Leading gambling law and regulation conference Regulating the Game has announced the latest addition to its 2025 Masterclass Series with KordaMentha to conduct a masterclass titled “ML/TF Risk Assessment – Tips, Tricks, and Missing Bits”.

The masterclass, to be delivered by Kordamentha’s Executive Director, Financial Crime Richard Lee; Director, Financial Crime Skye Arnott; and Manager, Financial Crime Ishaan Singh, will delve into how organisations can conduct meaningful risk assessments that drive actionable outcomes. Attendees will gain valuable insights into tailoring risk assessments to their unique business needs, identifying and addressing often-overlooked areas in risk assessments and leveraging outcomes to strengthen AML/CTF programmes effectively.

The hands-on masterclass is designed to equip participants with the tools and strategies necessary to elevate their organisation’s AML/CTF compliance and risk management practices. It is tailored for compliance professionals, risk managers and industry leaders seeking to build robust AML/CTF programmes.

“The Masterclass Series is all about empowering attendees with practical skills and actionable insights from leading practitioners,” said Paul Newson, Principal at organiser Vanguard Overwatch.

“KordaMentha’s team brings a wealth of expertise in financial crime, and this session is a must-attend for anyone serious about enhancing their AML/CTF frameworks.”

Alice Saveneh-Murray, partner at KordaMentha, said: “The expectations of regulators in this space continues to increase, especially following the announcement of the AML/CTF Modernisation Reforms. It has never been more critical for AML/CTF professionals to have the skills necessary to conduct a thorough and compliant risk assessment. Our team are pleased to be able to share best practices, strategies and common pitfalls to avoid so participants are empowered meet the requirements of the new regime with confidence.”

Regulating the Game will take place at Sofitel Sydney from 10 to 13 March 2025, bringing together global leaders, regulators, and industry professionals to address key challenges, explore innovative solutions and drive sector leadership. Now in its fifth edition, the conference provides expert content, fosters meaningful discussions on policy and sector challenges and drives innovation to underpin effective and efficient gambling regulation.

The post Regulating the Game Announced New Money Laundering, Terrorism Financing Masterclass at 2025 Conference appeared first on European Gaming Industry News.