Australia’s major sporting codes could succeed in delaying a ban on wagering companies sponsoring jerseys and on-field signs, despite the government proposing to block huge swathes of gambling advertising on TV, radio and catchup platforms.

While no final decisions have been made, sources close to confidential discussions held on Thursday and Friday say they have been told the government is yet to consult on banning jerseys and signs.

The independent senator David Pocock said the government appeared to be pursuing a “watered down policy to appease the gambling industry”, while the crossbench MP Zoe Daniel slammed what she saw as a “half-hearted, half-arsed” proposal.

According to the report, Labor is planning to propose “a cap of two gambling ads per hour on each channel until 10pm, and banning ads an hour before and after live sport”.