Australians lose more money to gambling in a year than government spends on aged care, report finds

The $31.5bn lost each year likened to a hidden, unspoken black hole' that cost-of-living policies have not addressed

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Australians are losing more money to gambling each year than the federal government spends on aged care and almost as much as it spends on the national disability insurance scheme, a new report has found.

The report by Equity Economics found that despite the cost-of-living crisis, the amount of money being lost to gambling has significantly increased. Expenditure on gambling has also risen faster than the cost of education, housing and inflation.

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