Bet365, Betfair, Entain, PointsBet, Sportsbet and Unibet made the joint pledge for funding over a three-year period. The RWA said these funds will allow people in Australia access to financial counselling promptly if needed.
Funding supports wider efforts to support Australians with their finances. The RWA has partnered with the government, the financial counselling sector and other industries including banking, energy and insurance to establish a not-for-profit body to distribute funds from next year.
RWA praises member efforts to support consumers
RWA CEO Kai Cantwell said the commitment from its members sets the “industry standard” for keeping customers safe.
“This funding builds on our world-leading consumer protections that only exist in online gambling,” Cantwell said. These include mandatory age and identity verification, deposit limits, time out tools and activity statements.
“The number one priority for RWA and its members is to ensure customers can gamble in a safe environment. This is while having access to the tools to stay in control of their gambling behaviour.
“This funding commitment demonstrates the collective commitment of RWA and its members to safeguard the well-being of Australians and provide vital support to those who may need assistance managing their financial circumstances.”
Long-term support for Australia consumers
Cantwell went on to say financial counselling is more important than ever as Australians struggle with the cost of living. He said funding from RWA members will allow more people to access specialist services.
“With many Australians currently struggling with increasing cost of living pressures, the work of financial counsellors is more important than ever,” Cantwell said.
“The new body will help Australians manage their current situation and develop long term financial skills for all areas of life.
“RWA is committed to working with government and industry to ensure the successful implementation of this initiative and hopes other industries will follow RWA’s lead and contribute to this scheme.”