Australia’s largest superannuation companies are heavily investing in gambling, a report has found. 

The Alliance for Gambling Reform has found that the Australian Superannuation funds hold $14.8 billion in gambling-related stocks.  

The largest fund, Australian Super, has currently invested $4.9 billion in the sector. Australian Retirement Trust, Colonial First State and UniSuper also held among the highest investments. 

The recent report has sparked debate whether everyday Australian people are realising that their super fund is investing into an industry that can cause harm. 

Chief Executive of the Alliance for Gambling Reform, Martin Thomas, said that he believed the dangers of gambling must be taken as seriously as the dangers from other sectors. 

“Harms from gambling are not consistently treated in the same way as harms that arise from other industries such as tobacco and alcohol,” Thomas said. 

He also believes that the funds are extremely important for Australians. 

“Australians lose more money per capita [to gambling] than any other country. Superannuation funds play a vital role in safeguarding the long-term financial wellbeing of millions of Australians,” he said. 

Australia loses $32 billion to the gambling industry each year. 

Photo: Rich River Club Echuca Victoria by Craig Sillitoe found HERE and is used under a Creative Commons Licence. This image has been cropped.