Review of bingo regulation to be launched by the Victorian Commission

 A "wide ranging" examination of bingo restrictions in Victoria, Australia, is to be initiated by the state's gambling and casino control commission (VGCCC).
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 The bingo review, which was announced today (6 June), will solicit feedback from members of the Victoria community and those with a stake in the sector.  In doing so, it will gain a better grasp of the difficulties faced by the business and investigate potential avenues for improving industry and regulatory standards, according to the VGCCC. 

 The Commission will investigate the viability of the present bingo regulations in Victoria.  Additionally, it will assess how much of the revenues are going to local organisations and how vulnerable cash-based transactions are to criminal activity. 

 In the fiscal year of 2023, commercial bingo in Victoria brought in AU$107 million (£56 million, €65 million, or US$71 million), as reported by the VGCCC.  This is a significant improvement over the $61 million won in keno during the same time frame.

 Fran Thorn, chair of the Commission, reported that "the commercial bingo landscape has modernised" in recent years.  Electronic innovations with large jackpots are replacing the old paper-based gameplay.  

 In light of this change, we must investigate and resolve concerns regarding honesty, fairness, and the possibility of gambling-related damage.  This is especially crucial for vulnerable populations like the elderly, women, and people living on reduced incomes, as well as First Nations communities.

 Additional information provided by Thorn states that the VGCCC is still receiving reports and accusations of businesses without licenses and possible fraudulent acts, even though regulatory control is in place.  So, it will poll the public for ideas on how to refine the restrictions. 

 "This is a chance to discover the inner workings of bingo and how it is changing in tandem with technology," Thorn remarked.  We are cognisant of the fact that bingo serves as a social outlet for a sizable portion of the Victoria community. 

 "We aim to comprehend the dangers, lessen the chances of damage, and halt any actions endangering the honesty and equity of the game." 

 Participation in the inquiry is being extended an invitation to all interested parties by the VGCCC, which includes customers, industry participants, and community organisations.

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 The investigation is the most recent development in Victoria's continuous campaign to strengthen gaming laws.

 Rules for virtual gambling accounts in Virginia were revised in April, as confirmed by the VGCCC.  How players perceive their expenditure and financial setbacks are part of this.

 The emphasis of these updates is on the presentation of specific data to users of online gaming accounts.  Included in this is data on expenditure; the net loss does not include free or bonus bets anymore.

 The monthly statements that players get now accurately reflect their net gains by deducting all stakes from their overall payout amount.  In addition to using just black and red to indicate losses, licensees are obligated to use basic English and refrain from superfluous jargon.  Each monthly statement should also include messaging about the harms of gambling.

 Sixty penalty units could be levied against operators that do not comply.  Each activity declaration that is not compliant costs AU$11,539.