What’s Fueling Australia’s Sports Betting Industry?

Australia is experiencing yet another gambling renaissance, and this time it’s coming from the sports betting industry. Even though interactive gambling has stolen the show, this online gaming method has unintentionally set the stage for sports betting reaching new heights. This development isn’t necessarily surprising, since Australia has the most robust gambling market in the world. The average Australian wagers close to $1,000 a year, which adds up to $24 billion. This per-capita statistic is over twice what’s spent in America, and makes gambling an inescapable recreational activity in Australia.

On top of creating a bonanza for both casino operators and the government, Australia’s affinity for gambling has opened a floodgate of options. Over 80% of Aussies engage in some form of gambling, and over 4% of the adult population play pokies once a week. This resounding demand for games hasn’t been ignored, since developers are scrambling to keep up with the market. Between casinos and sports betting parlors, 60 legal gambling facilities operate in 8 states. Even though they offer 1,947 table games and 20,250 pokies machines, this isn’t enough to satiate the market. 

Gambling has gone digital

As more punters switch to wagering online, the future of Australia’s gambling industry is increasingly digital. Interactive gaming has stolen the show and nowhere is this trend more apparent than with sports betting. Even though Australia’s total gambling market revenue contracted 0.5% in 2017, sports betting experienced unprecedented growth. There are many factors fueling this evolution, and each point is crucial for any responsible punter to know. For this reason, we compiled a list of Australian sports betting statistics. This faucet of gambling is stealing the show, so discover what’s fueling this revolution!

Facts Behind Sports Betting in Australia

Sports Betting
America is in the process of tapping into its $150 billion sports betting market.

Fact #2: Australian Sports Betting Industry is Mimicking America

Despite being on opposite ends of the globe, when it comes to gambling America and Australia have more in common than most people think. Just like Australia, the sports betting market in the United States is growing rapidly. After the release of federal ban on sports in 2018, 11 states legalized this once-taboo pastime. An additional 31 states are moving forward with measures to introduce legal sports betting, which is paving the way for a bonanza. Legal sports betting generated $430.2 million in 2018 and is going to reach $7.9 billion by 2024. 

More revenue means more taxes, and this potential jackpot is too enticing for the Australian government to ignore. As America continues to tap into its $150 billion illegal sports betting industry, they are setting the standard for the world. There’s too much money going offshore, which is why countries need to capitalize on it. As the marketing tactics of sports betting operators become more tenacious, Aussies can expect this transition to continue trickling into our culture.

Sports Betting
Sports betting is outperforming every other aspect of gambling in Australia.

Fact #1: Sports Betting Growth Outshines Every Other Gambling Faucet

Despite being far from the main sector of Australia’s gambling industry, sports betting is experiencing the most growth. Out of the $24 billion spent on gambling in Australia, $1.062 billion was wagered on sports betting. This was a 15.3% increase from the previous year, which dwarves all the advancements of competing gambling options. Electronic gaming machine expenditure only raised by a modest 0.5%, while adult gambling expenditure, total gambling expenditure, and casino expenditure all saw noticeable decreases. 

Race betting is the only other area that has a modest increase, other than mobile gaming. These figures showcase the fact that Australians are switching the way they gamble. The entire market is undergoing drastic transformations, and sports betting is emerging as the unexpected champion. As this unlikely bonanza continues to flourish, more emphasis will be placed on its development. This is a victory for punters and sports fans alike since the potential for this budding industry is endless.

About the author

Nathaniel Mansfield