SPORTS BETTING
Victorian punters to be better informed under clearer, fairer player activity statements
By Phil - 8 April 2024
Victorian betting account holders will now see their true spending and losses under new standards that specify how this information must be displayed on player activity statements.
These changes come after the Victorian Gambling and Casino Control Commission (VGCCC) analysed sample activity statements across a number of providers and found inconsistencies in how information was presented. Account holders will more clearly see how much of their own money they have lost, with free and bonus bets excluded from net loss figures on their monthly statement.
Net wins will also be more accurate, with stakes (the money spent in placing the bet) being deducted from pay out amounts. Wagering providers will need to use plain English, avoid unnecessary jargon, and limit the use of colours to black and red (to show losses). The same gambling harm taglines that appear at the end of wagering gambling advertisements must also be displayed on each statement.
Following an extensive implementation period, from 1 April 2024 all wagering providers operating in Victoria are required to comply with the new standards. Non-compliance could attract a penalty of 60 penalty units, which is equivalent to $11,538.60 for each non-compliant activity statement issued.
These requirements will strengthen how wagering service providers comply with the National Consumer Protection Framework and the Victorian Harm Minimisation Ministerial Directions.
VGCCC CEO Annette Kimmitt AM said: “The days of inconsistent player activity statements are over. Wagering account holders will be better informed about their spending – and therefore better equipped to make informed decisions about their gambling – thanks to the clarity and fairness these changes bring.”
The Commission recently fined Victorian registered bookmaker MintBet $100,000 for repeated breaches of its Responsible Gambling Code of Conduct (Code) in relation to extended periods of gambling by a customer. The customer gambled through their online account with MintBet for 35-hours in a period of approximately 50-hours.
By the end of the customer’s betting period, they had placed 327 bets and lost $31,149. The Commission found that MintBet did not stop accepting bets from the customer despite the customer displaying indicators of distress that may be related to problem gambling, as required by their Code.
MintBet closed the customer’s account only when the customer actively identified they were experiencing harm from their gambling.
The Commission also found that although MintBet had some systems in place to ensure vulnerable individuals do not experience a loss of control from their gambling, they were inadequate, also breaching a requirement of their Code.
In addition to issuing a fine, MintBet will be required to respond to the VGCCC about what improvements it will be making to its systems and processes. The VGCCC will consider MintBet’s response and determine whether further action might be necessary.
VGCCC Deputy CEO Scott May said the fine was a wake-up call for all gambling providers, saying “Victorian gambling providers must comply with their responsible gambling codes of conduct. They exist to protect people from gambling harm. Even if accepting bets online, providers must monitor for and intervene when customers are displaying indicators of distress. Gambling for an extended period is a key indicator of distress that may indicate problem gambling. There are serious consequences for any gambling provider that fails to comply with their own responsible gambling code of conduct. We won’t tolerate it.”
