IN BRIEF
- Australians lose around $32 billion a year to gambling, the highest per-capita losses of any country in the world.
- Australia's 20 largest superannuation funds have invested almost $15 billion in gambling companies.
- Advocates are urging Australians to ask their super fund where their retirement savings are invested, arguing gambling remains a "blind spot" in many responsible investment policies.
Australians are losing more money to gambling than the citizens of any other country, yet a new report has revealed many workers may unknowingly be helping to finance the industry through their compulsory superannuation.
The Alliance for Gambling Reform has found Australia's 20 largest superannuation funds hold almost $15 billion worth of investments in gambling-related companies, raising fresh questions about ethical investing and whether fund members know where their retirement savings are being invested.
The report estimates the nation's largest funds collectively have $14.8 billion invested in gambling companies, despite growing community concern over the social and financial harm caused by gambling.
For Hawkesbury residents, where poker machines, online betting and racing remain part of everyday life for many families, the findings are likely to prompt questions about whether their retirement savings align with their personal values.
Australia's biggest super fund tops the list
According to the report, AustralianSuper has the largest exposure, with around $4.9 billion invested in gambling-related companies more than double the next largest fund.
Other major investors include:
- Australian Retirement Trust
- Colonial First State
- UniSuper
- Aware Super
Many of the investments are held in major listed companies, including gaming machine manufacturer Aristocrat Leisure, one of Australia's largest gambling businesses.
A "blind spot" for responsible investing
Alliance for Gambling Reform chief executive Martin Thomas said gambling remains one of the biggest gaps in responsible investment policies.
"There is starting to be a realisation just of how socially damaging gambling is," Mr Thomas said.
"We see bankruptcies, mental health issues and marriage break-ups."
He argues that while many superannuation funds exclude or restrict investments in industries such as tobacco, controversial weapons and, in some cases, fossil fuels, gambling often escapes the same level of scrutiny.
"Gambling is a blind spot for superannuation companies," he said.
Mr Thomas believes many Australians would be surprised to discover part of their compulsory retirement savings is invested in an industry that contributes to significant social harm.
Australians lose $32 billion every year
The report comes as Australians continue to lose more money to gambling per person than anywhere else in the world.
Collectively, Australians lose approximately $32 billion each year through gambling activities including poker machines, sports betting, casinos, lotteries and wagering.
Advocates say those losses contribute to:
- financial hardship;
- family breakdown;
- mental health issues;
- relationship conflict;
- bankruptcy; and
- increased demand for counselling and support services.
Super funds defend investment approach
A spokesperson for AustralianSuper said that, apart from its Socially Aware investment option, the fund does not exclude gambling companies from its investment portfolio.
"We invest to help members achieve their best financial position in retirement," the spokesperson said.
The fund says it engages directly with listed companies to encourage responsible gambling practices and sound corporate governance.
However, critics argue that engagement alone does not address the ethical concerns surrounding investment in businesses whose profits depend on gambling losses.
What can members do?
Mr Thomas is encouraging Australians to ask their superannuation fund where their money is invested and whether gambling companies form part of the portfolio.
He said gambling investments generally represent only a small proportion of a fund's total assets, meaning funds have the capacity to shift investments elsewhere without significantly affecting returns.
"There is so much opportunity out there for them to do the right thing," he said.
While the Alliance is not calling for gambling to be banned, it argues that compulsory retirement savings should not automatically be invested in companies whose products contribute to significant community harm.
Gambling reforms underway
The report follows a series of gambling reform announcements by the Federal Government earlier this year.
Prime Minister Anthony Albanese has confirmed legislation will be introduced to restrict gambling advertising across television, radio, online platforms and other media unless users have been verified as being over 18 years of age.
The Federal Budget also included:
- $39 million over four years to expand financial counselling services;
- $28.7 million for the national BetStop self-exclusion register, including stronger data-matching systems; and
- $22.4 million for a nationwide public awareness campaign encouraging Australians affected by gambling harm to seek help.
A local conversation
The findings may also resonate in the Hawkesbury, where licensed clubs, hotels and sporting organisations rely on a mix of gaming, hospitality and community activities to support their operations.
For many residents, the report raises a broader question. Should compulsory superannuation savings be invested solely to maximise financial returns, or should ethical and social impacts also influence investment decisions?
As responsible investing becomes an increasingly important issue for Australians, the Alliance for Gambling Reform hopes more fund members will begin asking exactly where their retirement savings are invested and whether those investments reflect their personal values.
Need help?
If you or someone you know is experiencing gambling-related harm, free and confidential support is available 24 hours a day through the National Gambling Helpline on 1800 858 858 or by visiting Gambling Help Online.
