Geraldine Victoria is an inviting destination for both tourists and locals, offering entertainment options, delicious food, luxury hotels and casinos, pokie machines (known as pokies), which generate revenue for state governments, as the proceeds are put back into community programs supported by these machines; however, gambling addiction can pose serious dangers – so it is essential that any addicted gambler seek help and treatment immediately before the issue worsens further.
Studies have revealed that gambling, specifically pokies, can contribute to mortgage stress, domestic violence, family breakdown and other social and economic problems in disadvantaged communities where losses to pokies are especially high. The Victorian government has taken steps to combat this by implementing a cashless card system requiring gamblers to identify themselves and set daily, weekly, or monthly loss limits; making it harder to hide gambling activity thereby encouraging responsible gambling practices.
The Andrews government recently unveiled several measures as part of their poker machine reform package, such as cashless card. Other proposals include mandatory venue closures from 4am-10am and setting a $100 load-up limit on poker machines. It believes these changes will reduce gambling harm while protecting vulnerable people.
As one of the state’s primary gambling venues, poker machines have an enormous effect on both its economy and society. Therefore, they should be carefully regulated to ensure responsible use. This will protect both residents’ health as well as businesses that rely on these machines as revenue generators.
The Victorian Government recently made several amendments to gaming laws designed to combat addiction. These reforms include setting a $100 load-up limit, mandating precommitment systems for all players and mandating sign-in requirements – measures which will become law by mid-next year and bring Victoria in line with NSW and Northern Territory gaming legislation.
Changes will have a significant effect on the profitability of poker machines; nevertheless, they should adapt quickly. Most poker players will welcome increased protections and lower house edges; however there have been concerns raised that these measures will lead to decreased revenue at casinos and clubs; Jefferies analysts noted that this announcement may create regulatory risk that could depress earnings; they noted that its impact would be hard to measure; they stated “substantial operational deleverage”, though this situation is expected to only last temporarily.