How Big Is the Online Gambling Industry in Australia?
If we take the recent surveys and numbers the Australian gambling market is a growing one. Because of the significant proliferation of new sites, vendors, and online platforms, the country is offering major investment and revenue.
The online market has become a major hotspot for billions of dollars of business as of 2019, 2020, and after. The pandemic propelled it to more than a 2x increase on top of the same. There are hundreds of websites today that offer video slots, poker, live casino, card games, roulette, sports betting, and more.
We shall learn more about it in the sections below.
Primary Driving Factor
The major boost to these websites comes from staying home entertainment, betting, real money profits, and more. Because of inflation in the income of the average individual during the pandemic, and even before, the Australian market has shown steady growth between 2015 to 2020. During the same period, other avenues did not grow that fast. The various surveys conclude and further project them to grow at the same pace or even faster during the 2020-2026 period.
Because of this, many companies are making huge investments in offering quality entertainment and real money betting opportunities. The websites are growing with hefty promotions and unique marketing campaigns. It is an ordinary site today to find a 100% welcome bonus or first deposit bonus for first-time players and new gamblers.
The primary factors include.
- Major penetration of the internet in the markets, even in the countryside and suburban regions.
- Availability of worldwide gambling quality from home.
- All devices gambling even from a simple smartphone with an internet connection.
- No need to travel anywhere, which saves a lot of money in logistics.
- The younger generation who do not have access to bars and casinos can now have fun too.
What Is Online Gambling?
Also known as electronic gambling, this is the process of placing bets with the help of an online bookie. Because betting shops, gambling enterprises, and companies offer a great variety of opportunities under a single platform unlike conventional casinos, it is a far wider market. There are a lot of advantages when it comes to online betting.
- You do not have to travel to any casino. All you need is a single online account to play thousands of games.
- You can log in to any website and play games from various worldwide vendors. You can place bets with great flexibility.
- You don’t have to go out and enjoy everything on any device of your choice, whether laptop, tablet, or smartphone.
- Because of this ease, you can play anytime and from anywhere, even while travelling.
- Further, with global access and online entertainment, you have a wide range of payment options that are never available in a land-based casino.
Because of such advantages, the opportunities are truly limitless. This was never a reality before and this made it bloom in Australia. In fact, some of the best online gambling sites in Australia are full of beginners. The income levels of the younger generation help them get here with ease. This adds to the large volume of active users on a daily basis. These on-the-go users are helping push the market to new levels.
Statistics on Growth
Because the gambling market has been growing steadily since 2015, we have enough figures to back the facts. For example, surveys from 2019 show the peak revenue of online gambling in billions. The Queensland Government calculates this figure at 225 billion AUD in 2019. The same figure grew by 78% in 2020 and 2021, during the pandemic when everything went online. Betting became a major pass time and source of income too.
It includes all categories of gambling from lotteries, football, e-sports, horse racing, live casino, baccarat, poker, slots, and more. If we take the major regions that contributed to this growth, we find the following at the top ranks. Western Australia, Australia’s capital territory, New South Wales, Victoria, Tasmania, Queensland, and Southern Australia too.
In 2019, just electronic gaming machines or EGM contributed to over 181 billion AUD. Thus, land-based gambling was also at big levels before the pandemic, showing the growing trend in the continent. Websites like Joe’s Fortune, PlayAMO, AussiePlay, Woo Casino, and Ignition are some of the top and best online casinos as of current rankings.
Interactive & Online Gambling
There are a host of online vendors today and making sure that you are playing at a legal platform is the key. Because interactive gambling and online gambling are full of such cases where many casinos do not have licenses, these may as well be fraud or cheat customers by delaying or not regarding their wins. So, only chose licensed gambling partners.
As per ACMA, the Australian Licensed Interactive Gambling is an authority that all platforms must register at, so check the casino before you register. Also, AMCA or Australian Communications & Media Authority offers these licenses and rules. Before you are availing of the services, make sure that these online casinos advertise these licenses. Those who are not based in Australia might not have these licenses and hence, be made illegal. So, gambling online has many risks if it is illegal.
Most importantly, you have a big chance of losing money. These do not offer customer protection and this is a big thing. Also, there may be theft of confidential information during online transactions. These companies may refuse to return deposits, refuse to pay winnings, and so on as mentioned above too. You should always log in from Australia, and not change your country to play at these casinos.
In summary, one can note that the online gambling market is at its peak and is supposed to increase further. Because of this, the Australian market is seeing a surge in websites and online casinos. So, players, especially beginners who are a major percentage, should check properly before they register. To avoid any unpleasant experience, check the licenses and always play at online casinos based in Australia.