By BBBB 
Australia’s Victorian Gambling and Casino Control Commission (VGCCC) has announced new standards that improve the clarity of customers’ gambling activity statements.
The new standards are set to be implemented following a review of a select number of betting providers. The review found that there were significant inconsistencies in how customer activity was reported and presented in activity statements.
As a result of the changes, statements must now:
- Clearly indicate how much money a customer has lost
- Exclude bonus bets from net loss figures
- Display accurate net wins
- Deduct stakes (amount wagered) from payout totals
- Avoid jargon
- Use only black and red colors (red for losses)
- Include gambling harm taglines
The deadline for implementation of the new standards was April 1st 2024. The original deadline was for December 1st 2023, but this was extended to March 31st. Failure to comply will result in a penalty of 60 penalty units, equivalent to $11,538.60 for each activity statement issued that breaches standards.
The VGCCC shared samples of the new statements:
VGCCC CEO Annette Kimmitt AM said:
“The days of inconsistent player activity statements are over. Wagering account holders will be better informed about their spending – and therefore better equipped to make informed decisions about their gambling – thanks to the clarity and fairness these changes bring.
English