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Relieving stress and rising consumer costs mean two things prosper: “gambling and eating more chocolate,” according to Alliance for Gambling Reform chief advocate, the Reverend Tim Costello.
Speaking to Mortgage Business, Mr Costello highlighted the impact that the rising interest-rate environment could be having on Australian borrowers - particularly on those who gamble.
“Gambling almost certainly [affects loan payments] because people have an attitude of ‘I'm stuffed anyway, I might be able to make this mortgage gap with a win’, he explained.
“Always with sports bets incentives, bonus points – [people feel like] you can't lose and it works. But it’s false hope,” he commented.
Mr Costello outlined that sports betting companies spend $180 million a year on marketing, adding: “It sells the illusion ‘I can solve this financial stress.
“And you know how the story ends…” he said.
While Mr Costello added that the alliance had not researched the impact of gambling on mortgagors, he added: "It’s a really good question.”
Cashless gaming the great panacea?
Mr Costello’s comments come as NSW looks to introduce a cashless gaming card.
The initiative, put forward by NSW Premier Dominic Perrottet should the NSW state government win the upcoming election in March, would require gamblers to use a cashless card to access pokie machines across the state.
The cards would have a maximum daily spending limit of $1,500.
The Perrottet government had already begun trailling the state’s first cashless gaming (via Bluetooth) at Wests Newcastle last October, with “up to 200 members set to use ground-breaking digital technology”.
According to the state, the system aims to “reduce risks of gambling harm and to protect against money laundering”.
However, Mr Costello told Mortgage Business that he believed the $1,500 limit was too high. "It assumes your income is about half a million plus … it’s ridiculous,” he said.
“At least the cashless card requires you to set [lower] limits, so that's a tool for your freedom,” he confirmed.
“The only people against responsible gambling in Australia are the vending industry and New South Wales clubs,” he added.
“They're opposing even a cashless card setting limits because the model is built on massive losses addiction and crime,” he stated.
Reaching the gambling ‘destination’
According to the anti-gambling and social justice identity, Australia has 75 per cent of the world's pokies in pubs and clubs.
“It’s destination gambling - you intended to gamble, you do, you have to get home [with enough] money because it's ‘a destination’,” he said.
“When 75 per cent of the world's pokers are in pubs and clubs you don’t intend to gamble, you're intending to ‘shop’ because they're on every second corner and open virtually 24 hours.
“You find yourself in that 'addiction' doing damage, thinking you’ll only stay 20 minutes [but] losing track of time and then [it’s] three hours, losing track of losses...”
“Accessibility in Australia is why our blind spot is gambling; [for] Americans [it] is guns.
“That's why the NRA controls politics in America and why pubs New South Wales and the ‘AHA’ control politics in - particularly New South Wales - but certainly in Australia,” he stated.
An exciting new era via Bluetooth
Late last year, NSW Minister for Hospitality and Racing Kevin Anderson said the three-month Newcastle cashless gaming trial was to test how the technology operates in real-life conditions and its potential benefits for venues and patrons.
“The trial is part of an exciting new era where innovations such as digital wallets offer customers greater convenience and control over their spending and help venues and authorities identify suspected cases of money laundering,” Mr Anderson said at the time.
“Technology developed by Aristocrat Gaming has been installed on 36 of the [Newcastle] Wests club’s gaming machines using Bluetooth to connect patrons’ mobile phones to machines.
“The technology will allow for a Bluetooth connection between a patron’s mobile phone and the machine. This will let patrons transfer money directly from the gaming wallet on their phone onto the machine.
“The digital wallet can be used to fund gaming machine play and players can set spending or time limits, access real-time spending data, take a break or self-exclude from gambling and access other responsible gambling tools and services.
“Patrons cannot load funds into the gaming wallet from the gaming floor,” he clarified.
According to the minister, the digital wallet requires a person’s identity to be confirmed before they can play and they are linked to that person’s debit card or bank account, which means authorities can identify where those funds have come from if needed.”
Managing Director Aristocrat Gaming APAC David Ronson said the investment to bring forward and trial cashless payment solutions, through digital wallet technology, and deliver a complete digital experience for patrons is part of Aristocrat’s longstanding commitment to innovation and supporting its customers.
“We’re proud to have proposed this trial, as we believe enabling cashless electronic gaming machine play payment solutions through patron’s mobile phones, is an innovation that can help enhance the long-term sustainability and vibrancy of our industry,” Mr Ronson said.
If you’re based in NSW and have a gambling-related issue or you’re worried about a friend or loved one, GambleAware offers free resources as well as confidential advice and support.
Contact GambleAware on 1800 858 858 or contact the national Gambling Help Online via: www.gamblinghelponline.org.au
[Related: ‘Ho, Ho ... oh no!’ RBA announces December rate rise]
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