Aussie Gambling Revenues Surge

The Victorian government in Australia is set to gain from a projected $74 million from gambling revenue for 2010-11, in comparison with 2008-09 this figure is up by 4.5%. The state’s government report has released this figure. It constitutes one of approximately 200 reports that have been released by the Brumby Government in State Parliament.

According to the report tax revenue accounts for approximately 10% of the state’s total revenue. One of the main concerns the Victorian government faces, pertaining to gambling in its entirety and the revenue generated from it, it has lead to a significant increase in problem gamblers as well.

Based on the report’s findings, it indicated that certain areas within the community had a high percentage of gambling revenue obtained from gambling addicts.  It has been hotly debated that if a significant share of the government’s revenue came from gambling taxes, the government would be compelled to impose strict mechanisms to reduce problem gambling. Presently there are few measures in place to curtail problem gambling within the state.  The report alleged that the commission had not received any proof which indicates that the government’s procedure sustained or supported problem gambling.

Anti-gambling advocate senator Nick Xenophon gave his feedback on the report and said that the proposed increase in gambling revenue indicates that the state government is “in total contradiction” in its handling of gambling revenue. He’s of the opinion that the State government’s is not to be “trusted” and considers them a bunch of “jackpot bunnies.

“The increase in gambling revenue has placed the State government in a rather precarious position; since it highlights their incompetence in dealing with problem gambling related issues, Xenophon continued”.  He also indicated that there has been an exponential rise in internet casino gambling and he hopes that the Government will investigate this as well.

Based on the research done by Dr Sally Gainsbury of the Centre for Gambling Education & Research at Southern Cross University, the fastest growing mode of wagering in Australia is sports gambling and internet gambling comprised a large segment of this.  She also stated that Australian consumers have more cash now to spend on gambling since the country is not gripped by the financial recession anymore.

Spokesperson for the Victorian Treasurer, Matt Nurse said the reason for the substantial increase in gambling could be ascribed to Victoria’s population growth and its growing economy.   Interestingly, the Australian Bureau of Statistics points out that the population growth in Victoria stands at 2% per annum and could not be accounted for the projected increase in gambling revenues.

“The quantity of poker machines are not going to be increased in Victoria”, Nurse said.