Welcome Michael Heath of Bloomberg News. Featured Article on Gambling Down Under.

Hello and Welcome Recovery Friends,

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“I happen to come across a very interesting article about Aussie’s and problem gambling. I was pretty shocked to say the least as I got deeper into this little article written by, Bloomberg News reporter and writer, Michael Heath. So I thought I would email him to ask permission to share it” as I know you will be as shocked as I am.  I know some about gambling problems in the UK, but didn’t know much about Australia.

Indeed I received a nice email back from Michael saying that he would like me to share it here on my Gambling Recovery Blog, so I am very honored to do so.
(Note: There are charts to this article which can be viewed on the original article here: Aussie Gamblers, World’s Biggest Losers, Go One Better  .  .

 

 Aussie Gamblers, World’s Biggest Losers, Go One Better.

 

Australia has the highest number of slot machines per person among developed countries after Italy.”
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Inside The MPI Gaming Teaching And Research Centre And Economy Images Ahead Of CPI Figures~ Photographer: Lam Yik Fei/Bloomberg ~

Australians, already the world’s biggest gamblers, are hitting a new record in 2015 as the equivalent of A$1,000 ($734) is lost by every man, woman and child Down Under.

In the 12 months through September, Australians frittered away  $24.1 BILLION on gambling. That’s an increase of 6 percent from a year earlier, more than double the expansion of the overall economy, which grew a below-average 2.5 percent over the same period.

Gambling Down Under has long been tolerated as part of the national character — best summed up in the line that Australians would bet on two flies crawling up a wall. But growth in wagering using foreign-based websites, along with widespread use of slot machines and casinos in each city, is drawing heightened scrutiny.

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The government estimates more than 400,000 Australians, mainly men, have gambling problems, out of a total of 23 million people. It commissioned former New South Wales state Premier Barry O’Farrell to investigate the use of offshore-based websites and wants a report this month on what could be done to curtail the negative social impact of new forms of gambling.

Australians are the biggest spenders on gambling, prompting an influx of international agencies to the country’s market, according to the latest figures from Global Betting and Gaming Consultants. It reckons the most money spent is not via the internet but through the widespread distribution of slot machines or pokies as they’re known in the country.

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Australia has the highest number of slot machines per person among developed countries after Italy, according to a 2014 report by Gaming Technologies Association. .  .  .

“It’s just so accessible for Australians,” said Craig James, a senior economist at the securities unit of Commonwealth Bank of Australia. “People don’t have to leave their homes. There are all sorts of things people can bet on. They can even bet on interest rates set by the Reserve Bank.”

Michael Heath is an Australian Economy Reporter — Bloomberg News ~ Michael’s work has been seen in – Bloomberg News, Yahoo, Bloomberg Businessweek, Sydney Morning Herald, National Post, Australian Financial Review, Business Day, The Star (South Africa) and 3 more, Spectator , Livemint , Salt Lake Tribune . . . He lives in Sydney, Australia.

You can follow him on Twitter  ~ @maheath1

“I wanted to add just a few more stats so we can see how America and the UK stack up to Aussie’s with problem or addicted gambling. I mean, let’s be real about this,  $24.1 Billion in one year? Wow! You know they are NOT making profits of your “once in a while gambler” no matter what country you live in. Now it has been rumored that Americans spend about $54 Billion which would be higher than Aussie’s, but I think that is not correct nor could I find researching a concrete number. Another site had this figure of $119 Billion for loss’s in the US, and had this to say as well:

“That’s a crazy amount of money; more money than Bill Gates has (with $72 billion) or Warren Buffett (with $58 billion), and only $11 billion less than the two men put together.

What intrigues me is the question of why so many people gamble. After all, everyone knows that the odds are stacked against gamblers, whether they’re betting on slot machines, horse racing, football, roulette, bingo, or lotteries. Even the games where it is possible for a highly skilled player to consistently make money — blackjack and poker — are big losers for the vast majority of players. And why do some players — problem gamblers, around 1.8 percent of the population— end up losing vast amounts of money, going into debt, and sometimes even losing their families and homes.” . . .   Now for me this is not a shock, why? Because some of negative consequences happened to me within my gambling addiction.

Now let me share what I found for our friends in the UK.  And this is the only concrete info I could find for our UK friends:

“UK Gamblers wagered a staggering £46billion on betting terminals last year – nearly 50 per cent up in four years.

Dubbed the ‘crack cocaine’ of the high street, the machines allow punters to lose up to £100 every 20 seconds. They have been linked to the laundering of drugs money and councils are trying to rein them in.

But Gambling Commission figures show that bookmakers raked in profits of £1.55billion”

Read more: http://www.dailymail.co.uk/news/article-2517783/Britons-pump-46billion-year-gambling-machines-wagered-rising-nearly-50-years.html#ixzz3u7gKwzhS 
Follow us: @MailOnline on Twitter | DailyMail on Facebook

So there you go. You can see that the USA is not the only country that “has a gambling problem!” .  .  .

 

Catherine Townsend-Lyon, Author/Writer and Recovery Advocate of Gambling Addiction.

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3 thoughts on “Welcome Michael Heath of Bloomberg News. Featured Article on Gambling Down Under.

  1. Hmmm….Interesting article! The very first Casino I went to was the Burswood Casino in Perth! I played a poker machine with a cup of Australian nickels and won enough to pay for the wool sailing sweater I bought from the America’s Cup competition. Ironically, about ten years later, I wound up working as a Systems Specialist for Harrah’s Skagit Valley Casino property. I worked there for about two and a half years, managing their gaming systems, pit equipment, sound, PBX phone system and LAN/WAN networks…..I left because what I was seriously underpaid for the what I was responsible for and the hours they worked me were terrible but it was a fun time! I’m not a gambler at all! Saw enough sad stories working there and I was married to a alcoholic gambler. So, I know how difficult it can be!

    Liked by 1 person

    • Girl,
      I can always count on you to pop over and visit with real life experience to share… Very nice to see you!

      Now that is interesting about working in gaming. I had a cousin who worked for Caesars Palace in Atlantic City for many years, and he said the same. He didn’t gamble either from seeing to many sad stories of addicted gambling losing everything. And my first husband was an alcoholic, but no gambling . . . the booze was enough for me! Lordy. Glad God gave me a 2nd chance in that department too! LOL… Hope you have a Merry & Blessed Christmas Season XOXO

      Cat

      Liked by 1 person

      • It’s a great one. Hubby number three (and the final one) is fully retired. I’m writing letters to recovering soldiers, Marines and sailors in Bethesda….Made a couple fresh wreaths from the boughs that fell from the wind storms we’ve been getting….one every other day! Going to make more for the neighbors this week…..Our Christmas’ in this home is more of a celebration of food and not necessarily gifts, since we do like to subscribe to the commercial push to buy, buy, buy at this time of year…Again, another level up in photography….It’s been good! Merry Christmas to you and your family, Catherine!

        Liked by 1 person

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