The Rising Popularity Of Online Sports Betting in Australia
Australia has a rich history in online sports betting, and if you look at the stats, the graphs are constantly rising upwards in a manner like no other industry. The major reason behind Australian bookmakers is the rising demand for online betting apps, the changing behaviour of the bettors and increased access to smartphones and internet connectivity. The country is immensely popular for online betting trends that are becoming mainstream among Aussies. Betting is inevitable when it comes to considering the rising interests and preferences of the Aussies.
As per the legal aspects of Australia, it states that online sports betting and lottery are legal in Australia, which means all other types of betting activities like slots, table games, and other games of skills, chance and mix are not allowed. With that in mind, there is still a scope in the Australian betting market. This means you can invest in online sports betting development in Australia to tap a huge user base and earn huge revenues.
In this article, you will get everything related to online sports betting in Australia, including the market stats and details.
Australian Betting Market Overview
- As per the market stats, the online gambling market is projected to reach $10.30bn in 2023.
- Revenue is expected to show an annual growth rate CAGR of 6.90%, resulting in a projected market volume of $13.45 billion by 2027.
- The online sports betting market has a projected market volume of $9.09 billion in 2023.
- In global space, the most revenue generated in the United States accounted for $16,150.00m in 2023.
- The average revenue per user in the online gambling space is projected to rise to $1.84k in 2023.
- In the gambling market, the number of users is increasing in a heavy way and will reach the amount to 7.3m users by 2027.
- User penetration in the online gambling market is going to rise and reach 13.4% in 2023.
Australia Online Gambling Trends
- The Australian online gambling market is heavily driven by rising incomes and heavy dependence on the smartphones and betting games available on the screens.
- People in Australia can access a varied range of domestic as well as international betting markets via low-cost data availability.
- With the advent of technologies and trends like AR, VR, blockchain and gambling platforms, betting applications have become much more immersive, transparent, immersive, and safe.
- Australian online betting platforms offer a safe and secure betting experience, reimaging the overall outlook of the betting platforms.
- Freemium models are available in online betting applications, offering an acute level of flexibility and convenience to the users.
- Mobile gaming and gambling games have accelerated the demand for cross-platform compatible sportsbook platforms among both users and betting.
- The demand for betting online rose among Aussies in the most interesting way which is hard to track and going out of hand.
Is Online Gambling Legal in Australia?
Yes, it is legal to gamble in Australia and there is no dedicated law or act which states that gambling is prohibited in the country. However, the states and territories have their own dedicated laws or acts which abide the gambling via their respective rules and regulations. We have seen a surge in betting activities in Australia, offering entrepreneurs a bright future and tons of lucrative business opportunities. Whether you are a bettor or a business owner, Australian betting platforms offer better opportunities to reach a huge user base and generate a high level of ROI.
Here is the list of aspects you must be aware of:
- Online sportsbook software
- Lottery business
- Casino game development
- Live dealer betting games
Key Market Segments
Here are the key market segments that are related to the betting market:
Based on the Game Type
Based on game type, the Australian betting market is broadly classified into many categories like sports betting and casino betting like football, cricket, volleyball, basketball, etc. Besides that, you can also choose casino games like baccarat, roulette, teen patti, etc.
Region-Wise
The Australian online gambling industry is classified into categories like Victoria and Tasmania, Western Australia, New South Wales, Queensland, Australia Capital Territory, and Northern Territory & Southern Australia.
Final Words
By now you might have understood the entire Australian betting market, its stats, dynamics, opportunities and online Australian betting trends that are emerging and transforming the betting industry. Sportsbooks in Australia have become increasingly popular among both users and entrepreneurs worldwide. They not only offer secure and reliable features but also interfaces that users binge on the most for immersive and engaging betting experiences. The country Australia has a lot to offer for everyone if you want to tap its immersive and lucrative market, make sure to hire an experienced sports betting development company in Australia.