We don’t lend to casinos, online gambling operators or businesses that derive revenue directly from poker machines or sports betting.
Our customers have told us they’re concerned about the harm caused by problem gambling. One step we can take to tackle this issue is to rule out lending to the gambling industry – a position that 87% of our customers support.
The impact of gambling
Gambling is a common pastime in Australia, but for many gamblers it becomes a problem. ‘Problem gambling’ describes a situation in which a person has difficulty limiting the amount of money or time spent on gambling.
The Federal Department of Social Services estimates that people who have a problem with their gambling lose an average of $21,000 a year and that the annual social cost to the community is at least $4.7 billion. And the actions of one problem gambler can negatively impact the lives of 5 -10 family members or friends.
Why does your choice of bank matter?
Many people feel strongly about preventing problem gambling, and don’t want to see their money used to make loans to the gambling industry.
By banking with us, you can be confident that your money isn’t supporting companies like casinos or online gambling operators whose business models cause social harm.
What change are we trying to create?
The more money that companies like casinos or online gambling operators receive from banks and other investors, the more prevalent and accessible they become.
We know many people choose to gamble and we respect their freedom to do this. We also know that many of our customers are concerned about problem gambling, and don’t want their money to support the gambling industry.
The more people that send this message to banks and other investments funds, the more likely we will be able to limit the growth of these companies and reduce the harm caused to people and their communities through problem gambling.