Financial commentator Scott Pape, known as the Barefoot Investor, has directly challenged Australian Prime Minister Anthony Albanese to address the issue of gambling companies targeting children. Pape’s call comes after Albanese quoted him in Parliament regarding the government's property tax reforms.
During a parliamentary session, Opposition Leader Angus Taylor criticized Labor's tax changes, which altered the capital gains tax discount and limited negative gearing concessions. Prime Minister Albanese defended the reforms, stating they aimed to provide young Australians with a fair opportunity for home ownership. He then used Pape's phrase, describing previous government policies as akin to 'taxpayer-funded landlord welfare.'
In response, Pape referenced his latest column, which he urged the Prime Minister to read in Parliament. In the column, published in the Herald Sun, Pape drew a parallel between poachers hunting defenceless rhinos in Africa and betting companies in Australia that he alleges are targeting children. He described how these companies use sport, a popular interest for children, to draw them into gambling through sponsorships, advertisements, and the constant presence of betting odds.
Pape highlighted that Australia has a high rate of gambling losses per capita. He suggested that if the Prime Minister values his insights, he should also address the gambling industry with the same seriousness he applied to tax reforms. Pape proposed that betting companies should be treated like tobacco companies, advocating for a complete ban on their advertising in sports, including on jerseys and in stadiums.
The Prime Minister acknowledged on Friday that inducements offered by gambling companies to retain customers are excessive and should be curtailed. He stated that measures must be implemented to combat gambling addiction and that inducements encouraging addiction are unacceptable.
These remarks followed a Senate inquiry where allegations were made that gambling companies used tactics such as providing drugs and sex workers to keep customers engaged. Companies like Sportsbet and Tabcorp have denied these allegations.
The Australian government is currently seeking to pass reforms that would ban gambling advertisements between 6 a.m. and 8:30 p.m., and prohibit them in stadiums, on player jerseys, and during live sports broadcasts. However, these proposed changes have faced criticism for not constituting a complete ban, as recommended by a 2023 report from the late Labor MP Peta Murphy.
To pass the reforms in the Senate, Labor requires the support of either the Greens or the Coalition. A deal on the reforms is anticipated following the release of a Senate inquiry report on Monday, with a vote in the lower house expected the following day. A resolution is considered more probable with the Coalition.