Australians love a punt. And since the first rule of gambling is that the house always wins, this is really another way of saying, Australians love losing money.  
Which might be part of the reason the Federal government is apparently going to review gambling laws. As Fairfax Media's Perry Williams revealed first yesterday, Social Services Minister Scott Morrison is going to review the Interactive Gambling Act, amid industry tension over new digital technologies, and offshore players ability to circumvent existing laws. 
Basically, some offshore outlets such as William Hill are offering Australian customers the ability to bet on live sports via their smart phones. Strictly speaking, 'In-play' betting is outlawed on online platforms, including smartphones.
Data from H2 Gambling Capital, a London based industry researcher, obtained by Fairfax Media last month, shows that Australians lose more money per adult on gambling than every other developed country.
Back in 2010, the Productivity Commission actually estimated the average loss for each Australian that gambled at $1,500. 
For what its worth, that review found there was an overall net benefit (through taxes and enjoyment) to the economy from gambling of between $3.7 billion and $11.1 billion), but the costs to problem gamblers were substantial and devastating, ranging from $4.7 billion to $8.4 billion 
That aside, what is clear is that Australians are leading the developed world on gambling losses. Whether a review of online sports gambling laws, and potentially, advertising of gambling during sports matches, does anything to curtail this, remains to be seen.