The Australian government has announced long-awaited gambling advertising reforms, after years of public pressure.

The suite of measures will further limit when and where gambling ads can appear, as well as who can star in them - but it stops short of a full ban, which had cross-party support and the backing of a range of community groups.

Restrictions have been fiercely opposed by powerful gambling agencies, as well as media firms and sports organisations who feared a steep revenue hit.

Australians lose more money to gambling, per capita, than anywhere else in the world.

A number of countries - like Italy, Belgium and Spain - have introduced total or near-total bans on gambling advertising, and a parliamentary inquiry weighing up reform in Australia recommended similar more than 1000 days ago.

In a speech to the National Press Club, Prime Minister Anthony Albanese stated that his government was getting the balance right with this package.

Under the reforms, from January 1, TV ads from betting agencies will be capped at three per hour, between 6am and 8:30pm, and banned completely from any live sports broadcasts during those hours. Additionally, gambling ads will be banned from radio during school pick-up and drop-off times, and celebrities and sports players will not be permitted to appear in gambling advertising. There will also be bans on gambling ads in sports venues and on players' uniforms.

The measures have already prompted backlash from voices in the gambling industry. In a statement, Responsible Wagering Australia called the new measures draconian and warned of a potential impact on employment and funding in sports and media sectors. Advocates for change have also criticized the reforms, arguing that they do not go far enough, with calls for a full ban on gambling advertising.