Online wagering is the fastest-growing segment of gambling in Australia. It’s a trend of particular concern because losing money through online brokering and betting apps is associated with higher rates of gambling-related harm than other types of gambling.

These apps provide the ability to win and lose money anywhere, anytime - and their popularity has been exacerbated by COVID-19 lockdowns.

A survey of 2,000 gamblers by the Australian Gambling Research Centre in mid-2020 found the proportion of gamblers doing so four or more times a week increased from 23% to 32%. Among the biggest online gamblers - men aged 18 to 34 - median spending climbed from A$687 to A$1,075 a month.

Whether in life, the stock market or at the horse races, most of us are notoriously bad at assessing the real odds of good or bad things happening.