Two-up, a traditional Australian gambling game, is played at The Greenroof Hotel in Newcastle, Australia on April 25, 2025. Roni Bintang/Getty Images
Australia’s 20 largest superannuation funds hold $14.8 billion worth of shares in publicly listed companies with ties to gambling, a new study commissioned by the Alliance for Gambling Reform has revealed.
Across the 20 superannuation funds assessed, investments were identified in 198 listed gambling-related companies.
“Current disclosure requirements and voluntary standards make it impossible to determine the full extent of gambling exposure,” the study warns.
It also says the true level of investment is likely higher considering it doesn’t capture indirect investments through diversified entertainment and leisure groups, hotel and resort operators, casino-linked businesses, lottery and wagering providers, gaming technology firms, and other companies with gambling-related revenue streams.
When it came to investing to reduce gambling harm, the research shows that the largest funds have uneven and “generally underdeveloped” approaches, according to a scale developed by SustainoMetric.
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“No fund achieved a ‘Leading Practice’ score (80-100), indicating that best practice in managing gambling-related harm remains a long way from being achieved.
“Only a minority of funds (six) were assessed as an ‘Advanced’ score (60-80), demonstrating more systematic integration of gambling considerations across policy and investment processes.
“The majority of funds were rated ‘Basic’ or ‘Limited,’ with six scoring in the Basic range (46-60) and eight in the Limited range (20-40), indicating fragmented, option-specific, or early-stage approaches where gambling-related considerations are often confined to ethical or sustainable products rather than embedded across fund-wide investment governance.”
The Epoch Times contacted Australian Super and the Association of Superannuation Funds of Australia for a response.
The findings would “alarm and horrify” people who contribute to these funds and have no idea that, by doing so, they are actually supporting gambling, chief executive of the Alliance, Martin Thomas, said.
“Australia loses more to gambling on a per capita basis than any other country in the world—$32 billion—and now we find that our biggest superannuation funds are actually investing in companies that are leading to economic and social misery across our communities,” he said.
“If we do this, superannuation funds can better align their investment strategies with long-term member interests, strengthen responsible investment practices, and contribute to positive social outcomes for the benefit of all Australians,” he said.
The number of participants at risk of gambling harm also rose from 11 percent to 15 percent in the same period.
Radio gambling ads were also restricted from being played during school pick-up and drop-off times, while online gambling ads only appear if social media users are logged in and over 18.
