Australian gamblers are biggest losers

Australians lose more money per adult on gambling than any other developed country, according to data from a London-based research firm.

Data from H2 Gambling Capital obtained by Australia’s Fairfax Media last month, show that the average gambling loss per adult in Australia in 2014 was A$1,279 ($898). Singapore came second with an average loss per adult of A$1,243.

In a 2010 report, the Productivity Commission estimated the average loss per Australian gambler was in fact A$1,500. The report added that gambling contributed between A$3.7 billion and A$11.1 billion to the state, but that the costs to problem gamblers were substantial.

The data precedes recent news that Australia’s Social Services Minister will spearhead a review of the Interactive Gambling Act due to outdated laws being considered ambiguous in light of new technology such as smartphones and online gambling.