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Victorians lose a record $4.8bn in gambling



Printer Friendly VersionPost a CommentTell a Friend about this Article29 October 2008
As reported by: Business Spectator
Victorians lost a record $4.8 billion in gambling last year.

Poker machines in pubs and clubs were the biggest money magnet, draining $2.6 billion from players' pockets.

The remainder was blown at Crown Casino and on lotteries and wagering.

The biggest winner was the Victorian government, with gambling revenue injecting almost $1.6 billion into state coffers in taxes and levies.

This is about $36 million up on revenue the previous year when losses were about $85 million less.

The windfall - detailed in a Victorian Commission for Gambling Regulation (VCGR) report, tabled in state parliament today - has raised the ire of the opposition and anti-gambling groups.

Opposition gaming spokesman Michael O'Brien said the government was relying on gaming revenue to run the state and warned that would only worsen with the slowing economy.

"Labor is now so dependent on gambling to fund basic services that its gaming tax collections are around the same as Victoria Police's annual budget," he said.

"Victorians don't want police numbers dependent on pokie numbers. Hospital beds shouldn't rely on horse racing. The state Labor government should be prepared to fund basic services without this over-reliance on gambling taxes," Mr O'Brien said.


Article By: Business Spectator

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