Australians gamble more than any other nation, with an estimated 80% of adults participating in some form of gambling activity. Gambling is not taxed in Australia because it is considered a form of entertainment rather than a profession. Only gambling operators are taxed and must earn licenses from state authorities.
The Australian gambling and casino market is growing fast. This growth is due to the proliferation of new sites, vendors, and platforms and major players’ significant investment in the industry. In 2019 and 2020, the online market became a substantial hotspot for billions of dollars in business. Hundreds of websites today offer video slots, poker, live casino, card games, roulette, sports betting, and much more.
The Australia online casino market is driven by two factors, income levels and the increasing use of smartphones. As a result, leading casino companies are launching applications that can be easily accessed through mobile devices or tablets. Gambling markets are also being spurred by the growing internet presence, which has facilitated consumer interaction with local and foreign gaming websites and mobile applications.
Facts and Figures
The significant boost to iGaming comes from home entertainment systems, betting and real money profits. The country’s market has shown steady growth between 2015 and 2020 due to the average individual’s income inflation during the pandemic. Other pathways did not expand as quickly within the same time frame. The results of the numerous surveys suggest that they will continue to develop at the same rate or even more rapidly between 2020 and 2026.
Many companies now offer their customers quality entertainment and real money betting opportunities. Strong advertising and original marketing initiatives are helping the websites expand. A 100% welcome or first deposit bonus for new players and gamblers may be found on every typical website.
Some of the primary factors are:
- Significant market penetration of the internet, especially in rural and suburban areas.
- Global gambling quality is accessible from home.
- Even a basic smartphone with an internet connection is capable of gambling.
- There is no need to travel, which significantly reduces logistics costs.
- The younger generation, who lacks access to pubs and casinos, may enjoy themselves.
Statistics on Growth
According to surveys from 2019, the peak revenue of online gambling was billions of dollars. The Queensland Government estimates online gambling revenue reached AUD 225 billion in 2019. This figure was 78% higher than in 2020 and 2021, during the pandemic when people turned to online betting for entertainment and income.
All types of gambling are included, including lotteries, football, e-sports, horse racing, live casinos, baccarat, poker, slots, and more. The following regions are the first place when we look at the primary contributors to this increase. Australia’s capital territory is Western Australia, New South Wales, Victoria, Tasmania, Queensland, and Southern Australia.
The iGaming market in Australia is at its peak and is expected to increase further. The gambling market has seen a rise in websites and online casinos, so players should make sure that they check these sites before registering with them. To avoid unpleasant experiences, check the licenses and only play at reputable online casinos in Australia.
Although, the development of cutting-edge technology, like 3D animation, virtual reality (VR), and blockchain, is giving players an immersive experience while promoting gaming operations’ transparency.