'Not guaranteed to win': Cup punters warned to be aware of gambling risks

But there is always the chance of racegoers taking things too far, and gambling awareness organisations are hoping those enjoying this week's Town Plate and Gold Cup meetings are aware of the risks of placing a bet.

Kaily Goodsell, who has worked with GambleAware Murrumbidgee for more than 20 years, said events like these can be lots of fun, as long as you think of it in that way.

"It's meant to be a form of entertainment, remember that it's not an income stream," Ms Goodsell said.

"The biggest problem is the risk to bet more than you can afford ... it's not guaranteed that you'll win."

Ms Goodsell said an event like the Gold Cup can be a trigger event for those who may be at risk, but there are strategies that can be put in place to manage it.

"If you feel that you do have a problem with it, take cash, don't take your card, don't have any access to funds that you can't afford to lose," she said.

"You should go into a gambling venue expecting to lose, so know what you can afford to actually lose.

"Gambling harm is real and it doesn't affect just the person who has the gambling addiction.

"It affects everybody around them."

It isn't just easy to place a bet nowadays - it's effortless.

Betting apps have made it all too simple, it takes five minutes to set up an account and to put money on whatever sport you want.

The Australian Institute of Family Studies released the findings of the first ever National Gambling Trends Study in October, with the hope the survey could help identify trends relating to the gambling industry.

Within the survey, 512 regular gamblers were asked if they have noticed an increase in online gambling and its accessibility between July and November 2022, with 13 per cent saying that they have noticed an increase.

Just over 11 per cent identified excessive marketing for online betting in the form of advertisements and sponsorships as a trend, while 8.6 per cent raised concerns about the risk of gambling harm to young people.

Ms Goodsell said while it's difficult to avoid the prospect of gambling at the racetrack, it's important to acknowledge that it is easy for problems to arise quickly if you're not careful.

"Big races like the Wagga Gold Cup, that's an opportunity for people to dress up and go out and have that social activity," she said.

"But strategies need to be in place.

"For those vulnerable people it can be really damaging because they could end up spiralling into a gambling frenzy, so to speak, where you place one bet and then you make another, where you next bet is bigger to try and make up for the loss".