About one in three Aussie kids are rolling the dice on their futures, losing more than $18 million to each year.

The most current findings launched by think tank the Australia Institute show 30 per cent of 12 to 17-year-olds gamble, with the figure spiralling to almost half of 18 to 19-year-olds.

That's 600,000 teens betting each year.

Gambling reform supporters state it's the outcome of a purposeful attempt by the gambling market to groom kids to bet from a very young age.

"There is proof that the gaming industry targets kids as young as 14 years old through social media, advising them to download betting advertisements, and the saturation of betting ads around our major football codes is likewise tempting children to gamble," Alliance for Gambling Reform chief executive Martin Thomas stated.

"It is both alarming and terrible to comprehend that the variety of teens betting under the legal age would fill the MCG 6 times over."

The alliance is contacting all prospects in the upcoming federal election to dedicate to the suggestions made following the Murphy inquiry into online gaming, chaired by the late Labor MP Peta Murphy.

The questions's 2023 report found a "gush" of advertising and simulated betting through computer game was grooming children to wager and encouraging riskier behaviour.

It advised an overall phase-out of all betting advertising over 3 years.

Despite the evaluation being unanimously backed throughout parliament without any dissenting remarks, Labor has dragged its feet on gambling reform regardless of increasing pressure to prohibit wagering advertisements.

Australians currently acquire the world's highest gaming losses, positioning $244.3 billion in bets every year.

Rates of gambling have actually increased since 2019 and average yearly losses rose from almost $2000 per person to about $2500, according to the Australian Institute report.

The country's overall gaming losses at $31.5 billion rivals the whole Northern Territory economy and is greater than the $21 billion lost to betting in all of Las Vegas, the report included.