Queensland annual gambling losses reach US$3.2bn

Queenslanders lost a record AU$5.1bn (US$3.2bn) in the 2022-23 financial year.

Australia.- The Queensland government has reported that gambling losses in the state reached AU$5.1bn (US$3.2bn) in the financial year 2022/2023. The figure was up 11.3 per cent from the preceding year (AU$4.6bn) and compare to AU$4.3bn in the pre-pandemic 2018-19 financial year.

Electronic gaming machines accounted for AU$3.2bn (US$20.5bn), or 63.2 per cent, of the total losses while casino losses amounted to nearly AU$800m (US$512.72m). Lotteries accounted for AU$642.1m and betting AU$313.8m.

Queensland attorney-general Yvette D’Ath cited various factors contributing to the increase in gambling, including shifts in discretionary spending patterns. The government has implemented several measures, including a AU$7.8m allocation to Gambling Help Queensland in the current state budget. 

Queensland has a AU$100 cash load-up limit and a minimum spin rate of 3 seconds for gaming machines in clubs and hotels. According to ABC, since July, 97 per cent of Queensland venues have followed a mandatory six-hour shutdown period starting at 4am. The government is now working towards making cashless gaming compulsory for transactions exceeding AU$1000 in Queensland casinos.

See also: ACMA blocks 5 more illegal offshore gambling websites