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Lauren Levin

Lauren Levin. TODAY. TODAY. What we wanted? What we ’ re getting – national consumer protection framework Practical steps – what I ’ ve learnt that can help your clients. DUDS, MUGS THEMES. Men – different demographic All Australian sports betting co.s Losing own money – lump sums

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Lauren Levin

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  1. Lauren Levin

  2. TODAY TODAY • What we wanted? • What we’re getting – national consumer protection framework • Practical steps – what I’ve learnt that can help your clients

  3. DUDS, MUGS THEMES • Men – different demographic • All Australian sports betting co.s • Losing own money – lump sums • Huge sums • Gambling on credit – devastating • Relationship breakdowns • Grooming • Corporate behaviour is NOT responsible

  4. Part 1 OVERVIEW OF CAMPAIGN We shared case-studies from financial counsellors

  5. Report launch Parliament House

  6. 12 THINGS THAT NEED TO CHANGE Part 2

  7. What we wanted … • Ban on credit • Online register • National online exclusion register - 3rd party too • Aggregated account data – ‘loss limits’ • Algorithm to detect problem gambling • Ban on advertising & inducements

  8. What we’re getting … • Ban on credit ✔✔ • Online register • National online exclusion register - 3rd party ✔✔ • Aggregated account data ✗financial statements • Algorithm to detect problem gambling ✔ • Ban on advertising & inducements ✔

  9. What we’re getting … • In-play betting now banned (Aug 2017) ✔ • Online poker/casinos banned (Aug 2017) ✔ • ACMA regulator – greater powers (civil & criminal) ✔ BUT STATE REGULATORS ARE STILL THE REGULATORS FOR ONLINE GAMBLING

  10. National Online Consumer Protection Framework

  11. The industry is positioning itself as ‘responsible providers of gambling’. What does this mean? Part 3

  12. Case study 1 Tabcorp Jack’s new manager wanted him out. He had worked for 20+ years with the company. He was given a redundancy of $170,000. This worsened his depression and sleep. He was prescribed Stillnox. One night he had a drink with dinner, and the next morning discovered that he had transferred $60,000 – lost it. He then lost the remaining $110,00 over the next 5 weeks.

  13. Case study 2 Wes was a 30 yr old mining truck driver. He got $60,000 redundancy payout on July 1. He lost it betting with Ladrokes. He has no money for food. He wants to get his money back from Ladbrokes.

  14. Suicide SELF-EXCLUSION & CLOSING ACCOUNTS • What’s the difference? • Take a break • Are these useful? Why won’t some people use them?

  15. Case study 3 David had been to a financial counsellor during his last ‘gambling crisis period’ a couple of years ago. He had self-excluded from a couple of Beteasy & Ladbrokes – Beteasy was no longer in business - taken over by William Hill. He also self-excluded from Ladbrokes for 6 months. He still gambled with Betstar and William Hill.

  16. LOOK BEHIND THE BANK TRANSACTIONS • Credit cards - how did they get so much? • Other credit – did the bank know about the gambling? • Spending own money • How does this happen?

  17. FOS CASE Case number: 438112RG209.33

  18. A credit provider must take the borrower as they find them

  19. What are you seeing? • Financial abuse & gambling (new research project. FCA is partner in consortium) • New forms of gambling – fantasy betting, online lotto • Gambling related deaths

  20. What’s happening NOW ACCC & ASIC willing to look at client cases & unfair contracts Government’s national online gambling consumer protection framework Media interested in stories

  21. Your help • Case studies – Financial violence “WAGS of Duds, Mugs and the A-List • industry – ‘We’re being responsible’. Are they?

  22. FINDING ME? • lauren.levin@financialcounsellingaustralia.org.au • Tel: 0411 050 035 or FCA office • Report on FCA website • www.financialcounsellingaustralia.org.au (publications)

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