Discover Australia’s Rising Online Gambling MarketPublished June 26, 2015 by Mike P
Australia is one of the many countries where online gambling is on the rise. Discover what exactly fuels this rising market and its people.
Gaming is big business in Australia, where over 40 software developers are now based. Spin Palace casino, Jackpot city casino, are only few of the big successful online casinos running in Australia these days. Estimations from the Australian government suggest that those software developers firms are bringing in estimated revenue of more than $100 million annually. For 2015, it has been forecast that mobile gaming will soon command the lion’s share of the market.
Alongside the gaming industry, it is estimated that online gambling and sports betting also generate more than $100 million a year in taxes alone for the Australian economy. The Australian Wagering Council (AWC) has also reported that the country’s gambling industry employs over 1,000 people.
Over the past five years, the AWC has overseen steady annual increases of approximately 4-5%. That growth has been driven by a rise in the provision of access to online gambling, which adds to the existing land-based outlets. Technology has allowed for Australians to access online betting sites more conveniently than ever before.
A National Passion for Sports
So, what’s fuelling the rise? Well, gambling research from 2010 revealed that at least 70% of Australians had placed some form of bet. And with a culture that has a strong affection for sport, this suggests that Australians has a pre-existing desire for gambling. But the difference now is that they have a superior selection after the emergence of new site that also provide mobile access.
Australia’s online gambling market is also one with high integrity, which helps to assure customers that the legally operating sites are of a verified standard. The Interactive Gambling Act 2001 helps to root out shady operators that are more focused on making money than providing a quality experience.
Online gambling becoming is slowly becoming more regulated as destinations like the UK decide to seize control of their market by implementing their own licensing procedures. As a result, this ensures that domestic residents are at much lower risk from shady operators.