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AUSSIES SPEND MORE ON GAMBLING THAN WATER AND POWER

10/29/09 - The independent Australian company Commonwealth Securities Limited (CommSec) has released some startling figures on the gambling funds spent by Australians in relation to other essential living costs like water and electricity.

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Analysing data from the Australian Bureau of Statistics, Commsec found that on average the Aussies live up to their international reputation as big gamblers, spending more money on gambling than they put aside for gas, electricity bills, phone bills, water and petrol.
 
By the numbers, CommSec found the average Australian household spent A$2292 on gambling in the last year compared with A$1830 on gas and electricity bills, A$2056 on petrol and A$1996 on telephone and internet bills.
 
Craig James, chief economist at CommSec called the figures "staggering".
 
"The money spent on gambling far exceeds the total outlays on electricity and gas bills," he told NineMSN news this week. "And only until recently outlays on gambling exceeded that of electricity, gas and water bills combined."
 
CommSec’s analysis also found that Australians pay a relatively low amount for water, with the average household spending A$634 per year on water bills.
 
“The modest amount spent by the average household on water and sewerage services seems out of kilter with the relative scarcity of water,” James said. “With population expected to continue rising at a solid clip in coming years, it is likely that the cost of water will have to rise substantially to ensure that pricing reflects its relative scarcity.”
 
Households will also see utility bills rise by 14 -15 percent over the coming year due to the largest increase in pricing for 26 years.
 
According to CommSec’s analysis, that means households will need to find an additional A$1830 to pay electricity, gas and fuel bills and A$634 to pay water bills.
 
The question is, will the increased cost of living deter Aussies from gambling?

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Gambling News :

Interwetten 2016 Earnings Results - Privately-owned online sports betting operator Interwetten delivered robust full year results for the 2016 fiscal period, in which the company has almost achieved doubling its revenues over the past four years, success it attributes to its in-house developed platform

EU Online Gambling Tax Harmoney Dead - Tax expert says European Court of Justice Attorney General's opinion on UK-Gibraltar litigation signals that EU courts are happy for individual member states to impose their own laws on online gambling.

Jack Lam Facing Big Fines in the Philippines - It's going to be costly for Macau online gambling and junket tycoon Jack Lam to return to the Philippines following his rather hurried departure last year with allegations of economic sabotage, bribery and tax evasion swirling around him.

Walter Merricks Term As Gambing Commissioner Extended - The UK Government has extended Walter Merricks’ term as Commissioner of the Gambling Commission for a further year, ending December 31, 2017.

Loot’enKhamun Pays $3.8 Million Jackpot - A London-based construction worker’s year got off to a great start when he hit the Loot’enKhamun jackpot at bwin casino.

PlaySugarHouse To Carry Konami Content - Content provider Konami will provide its Gypsy Fire and Fortune Stacks slot games to Rush Street Interactive-operated PlaySugarHouse.com on an exclusive basis in the New Jersey real-money online and mobile wagering market.

ITF TERMINATES BETWAY SPONSORSHIP DEAL - The International Tennis Federation (ITF) has reportedly terminated Betway’s three-year sponsorship partnership as an extension to their anti-match fixing and sports integrity policy.

GSA To Launch European division - The expansion enables the GSA to better focus on the regional needs of its members outside of North America and underscores its recognition and commitment to growing European membership.

Paddy Power Trading Update - Company prevails despite adverse sports and US election results; Trump success cost the group GBP 5 million, whilst punter successes took another GBP 40 million in Q4-2016.

Tabcorp SunBets project - The details were revealed this week in an IT News article quoting Tabcorp's chief information officer, Kim Wenn, who described the SunBets project as Tabcorp's biggest global venture yet.

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