Problem gambling. Gambling can take the form of pokies, lotto, scratchies, card games, racing or other forms of betting. Each year, 70% of Australians participate in some type of gambling, but for some, gambling can quickly become a problem. The purchase of two of Australia’s top online sports betting sites could be the start of a trend, according to at least one online casino review and news site serving Australia. Some analysts predict that further consolidation in the market will occur as smaller companies struggle to conform to new stricter gambling regulations. There are a number of other states that are currently in the process of reviewing their online gambling laws. California, New York and Connecticut are likely to be the next states that will offer.

Updated September 04, 2017 16:45:46

I'm a gambling addict. Three years ago, I was convicted of white collar fraud, after I stole over $130,000 from my employer to fuel an insatiable addiction.

My poison of choice was not poker machines, but online gambling.

Racing, the thoroughbreds, the trots, the dogs — I wasn't fussy, so long as I could get a bet on and fuel that addiction.

The bets would range anywhere between $5,000 and $20,000 a day. I would bet until 3:00am, try to sleep for three hours and bet again for another three hours on online racing in the United States.

I always thought the stereotypical gambling addict was a working-class middle-aged man or woman, sitting at their local club, feeding their favourite pokies machine four or five nights a week.

But I rarely ventured into the local TAB.

Betting while the kids were in the bath

At the zenith of my addiction, I was married with two beautiful young children and working as a finance manager at a local council.

When I was with my family, I was physically there — but mentally, I was miles away, thinking about gambling: when I could next bet, where would the money come from, whether I could back a winner.

I thought about gambling 24/7. I placed bets at home, at work, the shops — basically everywhere and anywhere I could get reception on my phone.

I would be walking with the kids and our dog, yet I'd still be trying to place bets. I would even bet and watch the races on the phone while the kids were in the bath.

A knock at the door

I had been thinking about stealing to solve some of my debt problems for months, but I couldn't do it because I knew the consequences would be dire.

Then one evening, I had a visit from two large men with a baseball bat, strongly suggesting it would be in my best interests to repay a sizable debt that was due that week.

They punched me and threatened to use the baseball bat 'next time'.

I was left bruised and battered from their warning. It was a seriously scary moment; I still occasionally have flashbacks and it sends chills through my body.

That night, I made the decision to steal from work. I felt physically sick and fidgety; my mind wouldn't stop racing. I knew it was wrong, but I did it — knowing I could one day get caught.

The first time is without a doubt the hardest — but once you've done it, stealing becomes easier.

Listen to the program

Earshot meets Leigh, an online gambling addict.

I had nothing to lose. That's how I 'reasoned' it.

However, stealing became another problem to add to my list.

I was constantly worried about being caught. When someone knocked on my office door, when I got a phone call, when my boss called me to a meeting, I was never quite sure.

The fear was slowly killing me, but I couldn't confess, couldn't turn back. I was on a knife-edge with no solution, no way out.

It was a Monday morning when I was finally caught. I was called into the CEO's office and they presented me with the overwhelming evidence.

I was caught red-handed, but I still denied it. I knew my career was over and that jail was not far away.

But at that stage, I had a small sense of relief. No more looking over my back. The lying and deceitfulness could stop.

On the inside

When I was caught and sentenced to jail, the gambling addicts I met in the prison system had similar stories to mine. They were middle-aged, smart, well-educated men from good upbringings, all addicts to racing and not the pokies — certainly not the stereotypical gambling addicts I had imagined.

My addiction cost me everything. I lost my job, all my material possessions including house, car, everything I owned.

But that pales into insignificance to the lost relationships.

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My marriage disintegrated, I lost access to my children, I don't talk to my family and I'm no longer on speaking terms with most of my friends. I don't blame them.

During my year in jail, I had enough time to reflect on all the damage it had caused and when I was to be released I knew I couldn't go back to that lifestyle.

You get far too much time to reflect in jail. I was constantly thinking about the kids, but I didn't decide to quit gambling because of them. The constant stress and 24/7 of thinking about gambling had destroyed me: physically, emotionally, and financially.

I knew if I didn't stop gambling it would kill me.

Online Gambling Australia Reddit 2020

Get help before it's too late

I write this not because I find it a cathartic experience, but because I hope that it helps others to seek help before it's too late. Or for family and friends of addicts to intervene and offer support.

For people 'on the edge' or thinking about committing fraud, the solution is simple: get help.

Seek support before you hit rock bottom. The help that suited me the most was from my psychologist, one-on-one extended chats — but for others it may be Gamblers Anonymous.

For the family and friends of addicts: please don't give up on them, it's a horrendous disease and they need all the support you can give.

Life in 2017 is certainly not perfect, but it's a damn sight better than it has been.

I've got regular access to my children, I'm rebuilding lost relationships, I've found some temporary work — and I haven't had a bet since 2014.

Topics:gambling, internet-culture, family-and-children, fraud-and-corporate-crime, law-crime-and-justice, australia

First posted September 04, 2017 12:14:41

PokerStars parent company, The Stars Group, has reentered the Australian online gambling market through the acquisition of CrownBet Holdings Pty Limited, the operator of the licensed online sports betting site CrownBet.com.

The Stars Group announced the acquisition of a majority interest in CrownBet last week. Earlier this week, the company announced that it was increasing its stake in the Australian sportsbook from 62% to 80% and that CrownBet would purchase sports betting competitor William Hill Australia Holdings Pty Ltd.

“We are excited to enter the regulated Australian sportsbook market with CrownBet,” said Chief Executive Officer of The Stars Group, Rafi Ashkenazi. “CrownBet has become one of the fastest growing online sportsbooks in Australia through its strong management team, proprietary technology, mobile app, unique partnerships and market-leading loyalty program.”

The Stars Group paid $117.7 million for the initial 62% stake in CrownBet and an additional $315 million to increase its stake to 80% and purchase William Hill Australia. Of that subsequent amount, $234 million in cash went to William Hill Australia with the remainder payable as 3.1 million newly-issued common shares of The Stars Group for the additional equity in CrownBet.

“These acquisitions will further increase our exposure to the attractive regulated Australian sportsbook market and create a player of scale and clear rival to the top two operators there,” Ashkenazi commented after the announcement earlier this week. “With complementary geographic profiles, we expect the combined business to leverage CrownBet’s operating and proprietary technology platform and be well positioned for growth and to navigate the ongoing regulatory and taxation changes in the Australian market.”

Approval of the Northern Territory Racing Commission and the Australian Foreign Investment Review Board is required before the acquisition of William Hill Australia is finalized. The Stars Group’s additional stake in CrownBet is contingent on that acquisition. Subject to all required approvals, the transaction is expected to close in April 2018.

Online Gambling Australia Reddit Online

The purchase of two of Australia’s top online sports betting sites could be the start of a trend, according to at least one online casino review and news site serving Australia. Some analysts predict that further consolidation in the market will occur as smaller companies struggle to conform to new stricter gambling regulations.

Online Gambling Australia Reddit Free

Another potential pitfall for smaller operators could come as a result of tax increases that are expected to be announced in the coming weeks. The new tax scheme will seek to impose a point of consumption tax in Western Australia and Queensland . Currently in those regions, tax on bookmakers is assessed based on the jurisdiction that has issued the company’s license. For this reason, many bookmakers, including CrownBet, sought licenses from the The Northern Territory Racing Commission where taxes are less. Under the new plan, the tax rate would be assessed based on the location of the person making the wager and not where the company is licensed.

Online Gambling Australia Reddit Sites

The reemergence of The Stars Group comes approximately six months after PokerStars withdrew its online poker and casino products from the market in September of last year following the passage of a gambling bill amendment that clarified and strengthened an existing ban on online poker and casino games.