Report: stop credit line to problem gamblers
THERE is a groundswell of support for a complete overhaul of the online sports betting industry following a damning report into the tactics used to hook punters.
The Duds, Mugs and the A-List report revealed online gamblers were subjected to swift and brutal debt recovery measures if they fell behind on payments.
It found customers could lose assets such as the family home, savings and superannuation in a short time because of unregulated credit being provided to them.
Senator Nick Xenophon commissioned the report after hearing a story about a man who lost his life savings in four sports betting sessions.
The report recommended legislative changes to prohibit credit for gambling purposes and an overhaul of credit laws to ensure sports betting companies complied with responsible lending obligations as other credit providers have to, including assessing capacity to repay credit.