Billionaire Adrian Portelli’s giveaways company is set to become illegal as Labor cracks down on private lotteries in its gambling reforms, but a representative of the viral businessman has urged the government “not to paint an entire industry with the same brush”.

Details of Labor’s long-awaited gambling reforms were revealed on Friday, highlighting changes to gambling advertising. But the laws will also stamp out on lotteries operating “under the guise of” subscription-based rewards clubs, such as Portelli’s LCMT+ giveaways business.

Billionaire Adrian Portelli’s giveaways and membership business is under threat from Labor’s new gambling laws.…