Betting giant Tabcorp has been ordered to stop accepting cash at its machines in Victorian pubs and clubs unless they are properly supervised by staff after a teenager – with gambling debts of nearly $100,000 – placed bets at multiple venues. According to the state’s gaming regulator, the 16-year-old was able to gamble on more…
If efforts to address record global public debt are to leave no stone unturned, then weak disclosure laws warrant deep scrutiny. Hidden debt is borrowing for which a government is liable, but which is not disclosed to its citizens or to other creditors. And while this debt—by its nature—is often kept off the official government…
Gamblers in 28 U.S. states can now make legal sports bets from their mobile phones, which has fed fears that a problem-gambling epidemic is building. When Rob Minnick needed money to fuel his betting habit, he often found it where a lot of gamblers do. He got a cash advance on a credit card. Minnick…
Debt management & lending Altus Group Read the original article here
The Queensland government made $1.9 billion in gambling taxes last year, but only spent 0.6 per cent on harm minimisation programs. A damning Queensland Audit Office report has taken aim at the state government’s “inadequate” harm reduction strategies. The report, tabled in state parliament, has revealed Queensland gamblers spent $56.4 billion in the 2022-23 financial…
By pursuing debt relief you can start eliminating mounting debt this May. Getty Images Prices are rising. That’s not only true for consumer goods and services, it’s also true in terms of the cost of borrowing money. And, if you have debt with variable interest rates – like credit cards and some other loans – you…
A Psychiatrist Tried to Quit Gambling. Betting Apps Kept Her Hooked. The Wall Street Journal Read the original article here
In short: Complaints about how banks handle financial distress rose 25 per cent last year, the Australian Financial Complaints Authority (AFCA) said. More than half of the complaints were about a lender’s failure to respond to a request for help — a breach of national codes. What’s next? The Australian Securities and Investments Commission (ASIC) is conducting…
In short: Mark Stockwell was sentenced to a jail term after he was caught skimming money from his employer to pay off gambling debts. Stockwell is warning others against the dangers of gambling on sports via online betting agencies. What’s next? Various organisations are pushing for gambling reform as Australia is revealed as the world’s biggest…
The indexation of student debt is arguably the federal government’s biggest political problem when it comes to universities. Last June, student debt balances increased by 7.1%, the highest rate in decades. While HELP loans do not attract interest, they are indexed to inflation as measured by the Consumer Price Index (CPI). When inflation remained low,…