As of the 1st of April, a new era of accountability and transparency dawned for Victoria’s online gambling scene. The Victorian Gambling and Casino Control Commission (VGCCC) has mandated stringent standards for Victoria-licensed gambling operators, aimed at empowering consumers with clearer insights into their gambling habits.
This comprehensive overhaul zeroes in on the presentation of vital information in players’ online gambling accounts, scrutinishing spending data with a magnifying glass. Crucially, the calculation of users’ net losses now omits any free or bonus bets, painting a more accurate picture of their financial position.
Accuracy is further enhanced when reporting net wins; these figures will now deduct all wagers from the total received payouts, ensuring players receive a truthful monthly financial statement. The VGCCC insists on plain English in these communications, steering clear of complex jargon, and prescribes the use of only black and red colors—thus starkly highlighting losses and fostering a more transparent gambling ecosystem.
Each monthly statement will also carry messages aimed at preventing gambling-related harm, as part of the wider strategy to promote responsible gambling practices. Should the operators stray from these new requirements, they face stern repercussions—an onerous fine of 60 penalty units per each statement that falls short of compliance. Translated into monetary terms, this is a significant penalty amounting to AU$11,539 for every non-conformant statement disbursed.
Annette Kimmitt, Chief Executive Officer of the VGCCC, heralded the advent of these measures: “The days of inconsistent player activity statements are over. Wagering account holders will be better informed about their spending and are better equipped to make informed decisions about their gambling, thanks to the clarity and fairness these changes bring.”
This regulatory pivot is not born out of the blue. These measures trace their genesis back to deliberations 18 months prior and the inception of the National Consumer Protection Framework (NCPF) activity statement requirements in November of 2022. A review conducted by the Victoria regulator scrutinized the monthly activity statements of a dozen wagering service providers. This led to the publication of an Activity Statement Expectations Guide, along with an illustrative updated statement prototype.
Subsequent feedback from this investigation was thoroughly evaluated, and the VGCCC, liaising closely with licensed entities, clarified further intricacies before establishing the present measures and conveying them to the operators. Originally slated for implementation from December 2023, providers such as Tabcorp, Entain, and Betfair were granted until 31 March 2024 to undertake mandatory system changes.
The VGCCC’s unwavering commitment to minimizing gambling harm has not been restricted to online activities alone. Their vigilance has also extended to harsh penalties for lapses in responsible gambling regulations, as demonstrated by a recent significant fine imposed on MintBet for repeated transgressions. The land-based betting sectors have not escaped scrutiny—Tabcorp, for instance, was compelled to make most electronic betting terminals cashless after underage gambling breaches.
Further, in a watershed development, the VGCCC regenerated Crown Resorts’ license to operate its Melbourne Casino, following a rigorous reformation in the wake of intense criticism by the Royal Commission. Crown Melbourne’s significant contribution as the state’s largest single-site employer factored into the decision to renew its license, as acknowledged by the Victoria regulatory body in its recapitulation of the ‘public interest.’
As the latest in a series of rigorous regulatory actions by the VGCCC to shield players from the potential harms of gambling, these freshly minted measures are a testament to the regulator’s staunch resolve to enforce fairness and support informed gambling choices.
