Victorian Gambling and Casino Control Commission’s Post

Technology and the legalization of sports betting has fueled a betting boom, especially among young men. The opportunities for betting are now easily accessible. CBS News 60 Minutes explores the role technology has played in the recent spike in problem gambling: https://ow.ly/6VNp50QBs15. #ProblemGambling #SportsBetting #PGAM2024

𝗧𝗵𝗲 𝗻𝘂𝗺𝗯𝗲𝗿 𝗼𝗳 𝗽𝗲𝗼𝗽𝗹𝗲 𝗯𝗲𝘁𝘁𝗶𝗻𝗴 𝗼𝗻 𝘀𝗽𝗼𝗿𝘁𝘀 𝗵𝗮𝘀 𝗲𝘅𝗽𝗹𝗼𝗱𝗲𝗱, 𝗱𝗼𝘂𝗯𝗹𝗶𝗻𝗴 𝗶𝗻 𝗷𝘂𝘀𝘁 𝗳𝗶𝘃𝗲 𝘆𝗲𝗮𝗿𝘀 𝘄𝗶𝘁𝗵 𝗺𝗼𝗿𝗲 𝘁𝗵𝗮𝗻 𝗼𝗻𝗲 𝘁𝗵𝗶𝗿𝗱 𝗼𝗳 𝗮𝗹𝗹 𝘀𝗽𝗲𝗻𝗱𝗶𝗻𝗴 𝗼𝗻 𝘀𝗽𝗼𝗿𝘁𝘀 𝗯𝗲𝘁𝘁𝗶𝗻𝗴 𝗻𝗼𝘄 𝗰𝗼𝗺𝗶𝗻𝗴 𝗳𝗿𝗼𝗺 𝗽𝗲𝗼𝗽𝗹𝗲 𝘄𝗶𝘁𝗵 𝗮 𝗴𝗮𝗺𝗯𝗹𝗶𝗻𝗴 𝗽𝗿𝗼𝗯𝗹𝗲𝗺, 𝗮𝗰𝗰𝗼𝗿𝗱𝗶𝗻𝗴 𝘁𝗼 𝗻𝗲𝘄 𝗿𝗲𝘀𝗲𝗮𝗿𝗰𝗵. More than a quarter of all men aged 18-24 and a third of men aged 25-34 now bet on sport. Young men are most at risk of falling into problem gambling – with close to 1 in 5 (17.5%) 18-24 year-olds who bet on sports, already defined as having a gambling problem. “These are huge numbers and they highlight how a predatory online gambling industry is ensnaring a whole new generation into gambling,” Alliance for Gambling Reform Interim CEO, Martin Thomas said. More in The Guardian: https://lnkd.in/gGabNPQm Our Media Release: https://lnkd.in/gPqPAhcp #EndGamblingAds #PlayItRight

Teach your kids to play sports, watch sports, but don’t bet on sports. When they are older, online gambling sites will target them, particularly boys. Give them knowledge now to protect their financial futures. #parents #financialeducation #moneytales

It is Problem Gambling Awareness Month. Online sports betting goes live in North Carolina in March. Education and awareness are key factors in preventing problematic behaviors with sports betting. Parents can be our biggest allies as college kids are bombarded with social media advertising that utilizes myths like the illusion of control or what has been coined as skill-based confusion. #PGAM #problemgamblingprevention #youthpreventioneducation #healthliteracy

With public opinion leaning towards stricter gambling regulations, is it time to ban sports sponsorships and tighten online betting rules? As financial literacy grows, so does the call for stronger protections against unchecked industry practices. How do you think we can address this issue, especially at the community level? Let's discuss! 💬 #IFG #HalalFinance #EthicalBusiness #IslamicValues #ResponsibleGambling #CommunityWellbeing #FinancialResponsibility #MuslimLeadership

Responding to the Economists story on gambling and regulation: Sports betting is a losing proposition for the largest majority of participants. The profits of the gaming companies PLUS their operational expenses come directly from the customers pockets. Because of the "Vig" the winner and the loser of each bet is paying a fee. It’s booming because the smart money is betting on “the House“and promoting the hell out of it! The wise move is to bet your buddies a six pack of beer, a dinner, or car detailing, winner takes all (no Vig), rather than wasting your time and throwing away your money. #gambling, #sportsbetting, #economist, #economics, #money, https://lnkd.in/gF5pZdfR

A relaxing of the regulations keeping sports betting in check has led to the creation of, not only a multi-billion dollar business, but also to hard-hitting social problems. Between 1,6% and 6,2% of Americans (betw. 3 and 19 million people) can be considered as "having a gambling problem", according to studies. Also, around 8% of domestic incidences involving charges in 2023 can be traced back to gambling and betting. Besides the worrying social problem that normalizing access to betting has brought, it has also changed the entire way we talk about sports. Sports shows are, for the better part, unwatchable nowadays, unless you have money on a game. Thought of sharing this video about how curious and odd sports coverage has become, but also worth discussing the real problems this shift in paradigm has brought. https://lnkd.in/eB9tR2zH

🚫🎮 The Alcohol and Gaming Commission of Ontario (AGCO) takes a bold step to protect minors by updating the Registrar’s Standards for Internet Gaming. Starting Feb 28, 2024, the use of athletes in iGaming advertising will be prohibited in Ontario, alongside stricter regulations on celebrity endorsements to prevent appeal to underage audiences. 🛡️👶 This decisive action follows extensive consultations with stakeholders and aims to mitigate the risks associated with influential figures promoting online betting. Athletes, active or retired, and celebrities known to appeal to minors will no longer be featured in marketing materials, except to advocate for responsible gambling. 📣🏅 Tom Mungham, Registrar and CEO of AGCO, emphasizes the importance of safeguarding Ontario's youth from the potentially harmful influence of these advertising strategies. 🌟👧👦 Let's create a safer digital gaming environment together! 🤝💻 #ResponsibleGaming #OntarioNews #YouthProtection #iGamingStandards News source: https://lnkd.in/ghcY9C99

Ever noticed how sports betting ads make it look like everyone wins, all of the time? 🤨 Help your kids understand the reality and risks of gambling so they can grow up to be happy and healthy adults. 💪 Here's how you can talk to them today: https://lnkd.in/gGkN5sxE #LoveTheGameNotTheOdds