Post by mangomoney on Sept 28, 2016 9:26:35 GMT 7
Gambling Disease Kills One Australian a Day, But It's Too Lucrative to Cure
Slot machines provide billions in revenue at high social cost.
After struggling with a gambling addiction for 13 years, Kate Seselja had enough. The 37-year-old mother of six was contemplating driving her car into a tree after losing more than A$500,000 ($383,000) playing slot machines.
“At first they were a bit of fun,” said Seselja, who sought help after almost joining the estimated 400 Australians with gambling-related problems who commit suicide every year. “It’s so normalized in Australia. There’s machines on just about every street corner.”
More than half of the A$23 billion that Australians gambled away last year was sunk into slot machines. While most countries restrict gambling to casinos and betting shops, Australia permits it in corner pubs and sports and veterans clubs. Despite having less than half a percent of the world’s population, it is home to a fifth of the world’s slot machines.
There’s scant will for political change: the industry is a major donor to lawmakers, including Prime Minister Malcolm Turnbull’s coalition, and previous attempts at reform have failed. Australian states and territories reaped A$5.8 billion ($4.4 billion) in taxes from gambling in the year through June 2015, easing the pressure on a federal government presiding over a fragile AAA rating and budget deficit made worse by political inertia and gridlock.
more...
www.bloomberg.com/news/articles/2016-09-27/gambling-disease-kills-one-australian-a-day-but-it-s-too-lucrative-to-cure
Slot machines provide billions in revenue at high social cost.
After struggling with a gambling addiction for 13 years, Kate Seselja had enough. The 37-year-old mother of six was contemplating driving her car into a tree after losing more than A$500,000 ($383,000) playing slot machines.
“At first they were a bit of fun,” said Seselja, who sought help after almost joining the estimated 400 Australians with gambling-related problems who commit suicide every year. “It’s so normalized in Australia. There’s machines on just about every street corner.”
More than half of the A$23 billion that Australians gambled away last year was sunk into slot machines. While most countries restrict gambling to casinos and betting shops, Australia permits it in corner pubs and sports and veterans clubs. Despite having less than half a percent of the world’s population, it is home to a fifth of the world’s slot machines.
There’s scant will for political change: the industry is a major donor to lawmakers, including Prime Minister Malcolm Turnbull’s coalition, and previous attempts at reform have failed. Australian states and territories reaped A$5.8 billion ($4.4 billion) in taxes from gambling in the year through June 2015, easing the pressure on a federal government presiding over a fragile AAA rating and budget deficit made worse by political inertia and gridlock.
more...
www.bloomberg.com/news/articles/2016-09-27/gambling-disease-kills-one-australian-a-day-but-it-s-too-lucrative-to-cure
