The Australian Government doesn't want titles featuring "in-game purchases with an element of chance" being recommended to children under 15 years of age.
Many places won't sell M rated games to minors without a guardian present. It also allows guardians to make better informed decisions about what they're about to buy for their children. It may not be a silver bullet, but it might start to put some pressure on studios to think twice about putting gambling in games targeted towards children.
This will put pressure on studios that make E and T rated games with loot boxes (for example: Fifa). Now they have to decide between letting the game get bumped up to a M rating, losing initial sales of the game, or removing loot boxes and other gambling features.