The Victorian Gambling and Casino Control Commission (VGCCC) has announced a raft of new requirements in regard to the player activity statements provided to Victorian wagering account holders, with the aim of making it easier to determine true winnings and losses.
The changes, which are mandatory for sportsbook operators as of 1 April 2024, come after the VGCCC analyzed the player activity statements issued by operators and found inconsistencies in how information was presented, the commission said.
Monthly statements will now be required to exclude free and bonus bets from net loss figures, while stakes must also be deducted from payout amounts to more accurately highlight net wins.
Wagering providers will need to use plain English, avoid “unnecessary jargon” and limit the use of colors to black and red (to show losses). The same gambling harm taglines that appear at the end of wagering gambling advertisements must also be displayed on each statement.
Operators can face a fine of up to AU$11,538.60 (US$7,592) for each non-compliant activity statement issued.
“The days of inconsistent player activity statements are over,” said VGCCC CEO Annette Kimmitt. “Wagering account holders will be better informed about their spending – and therefore better equipped to make informed decisions about their gambling – thanks to the clarity and fairness these changes bring.”
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