ABC News Daily The betting firms profiting from crime
8 snips
Oct 5, 2025 
Steve Cannane, an investigative reporter from Four Corners, dives deep into the alarming world of online betting firms. He unveils shocking statistics about Australia's $31 billion gambling losses and the exploitative practices of bookmakers. Cannane highlights a case where a financial advisor gambled away clients' funds and critiques how bookmakers keep profits from criminal activities. Despite recommendations for reform, he explores the government's slow response and questions the industry's ethical responsibilities.
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Australia's Massive Gambling Toll
- Australians lose about $31 billion to gambling each year, driven mainly by poker machines and mobile wagering.
- Around a quarter of gambling losses come from online wagering, highlighting the mobile shift in betting.
Regulatory Hub Draws Bookmakers
- The Northern Territory regulator licenses over 40 major online bookmakers and benefits from an industry-friendly policy.
- That setup includes low taxes and minimal regulatory staffing, attracting big betting companies to Darwin.
Part-Time Regulator, Full-Time Concerns
- The NT Racing and Wagering Commission operates with part-time commissioners and no full-time staff.
- Critics argue its close industry ties undermine independence and effective oversight.