“Would you like to place a wager on who will win?” In Australia, betting is the most popular form of entertainment. Australians understand and enjoy betting, and they are always willing to put their money up for a chance to make even more! According to a conservative estimate, Australians spend $200 billion on gambling each year (though nobody knows exactly how much).
An old adage goes that an Australian will bet on two flies crawling up a wall. Yes, it’s a bit of a cliché, like archetypal images of surfer dudes or outback survivalists with corks hanging from their hats, but like all clichés, there’s some truth to it. With wagers ranging from pokies/poker/horse racing.
When you consider Australia’s population, it becomes clear that this country has a sizable market. But don’t be fooled by its small size—there are plenty of opportunities for businesses and investors in Australia!
Australia has a population of over 20 million people and an economy that has grown by an astounding 5% per year since 2010.
The online transition
Gambling has gone digital over the years, and you can now find it almost anywhere. The United Kingdom led this transformation by establishing a legal framework for online betting in 2005, after which they delegated responsibility to their newly formed commision, the United Kingdom Gaming Commission (UKGC). This change made things more convenient because of how quickly technology is advancing, but it also made things safer because all parties are now monitored by a single governing body.
Any online business selling gambling services to UK customers must obtain a UKGC licence, which is not difficult. Customers have grown accustomed to ensuring that sites are licenced for them when evaluating new platforms. Australia has seen a similar shift towards more betting and should follow suit as soon as possible because it has the potential to create jobs while also keeping people safe from scams.
Many people in Australia need to place bets, and when they can’t do so onshore, the wind blows them offshore. This means that if you’re looking for money or if you have a vested interest in this issue, you should bet on change happening soon!
Australia is losing revenue from online betting because laws prohibiting such conduct have pushed Australian gamblers to offshore providers. This not only puts consumers at risk by disclosing their location, but it also deprives Australians of much-needed tax revenue.
There are numerous investment opportunities
A regulated online gambling market will provide investors with a plethora of opportunities. According to studies conducted in Europe and the United States, not only is this beneficial to consumers, but it also generates tax revenue, which helps to strengthen economies.
With a formal regulatory structure in place, investors will be able to not only start their own online businesses or invest in existing Australian businesses that apply for licences. They can do so with confidence, knowing that it is a business that can thrive in any situation due to clear and transparent rules governing financial controls, tax protection, and consumer rights. And there’s more. Because of this new legislation, investors will be able to see all of these opportunities without fear of any unintended consequences!
The current unregulated market allows shady operators to put in their time before fleeing because the turbulent waters are too dangerous. Professional investors with long-term plans with customers like you cannot thrive and build relationships in this environment without competition from these fly-by-night businesses that only come to meet short-term demand. These seasoned professionals could do more for your company if they didn’t have to worry about what might happen tomorrow or next week due to regulatory restrictions on entering or exiting the industry.
If you want a piece of the $200 billion Australian gambling market, you’ll be able to get it as soon as regulations are in place.
The Mobile Revolution
While Australia’s regulatory system has stagnated over the last two decades, its market has seen several seismic shifts. None was more significant than the shift from land-based to mobile betting, which was fueled by increased fan engagement and loyalty as a result of this new technology’s incredible rate of change in such a short period of time. The aspect that would-be investors should take note of is that all of these innovations are still improving exponentially, as developers are constantly coming up with newer ways to improve bettors’ experience on their devices – just look at recent releases like AR Rabbit Racing or Heads Up Poker!
While the Australian regulatory system has essentially remained stagnant over the last 20 years, it has been met by massive changes within its industry; specifically, most bets are placed through online casinos.
Because the gambling market is crowded, every platform is desperate to offer something unique. The most recent trends emphasise instant gratification through in-play betting for sporting events, which is an excellent example of how the game has evolved over time. You can bet well in advance of a sporting event, but once you do, your options are limited as you watch the action unfold, creating anxiety about either collecting or discarding your betting slip with no control over what happens next!
Soccer fans’ anticipation and excitement, as with any sport, only grows when the game is in progress. They can bet on anything from when the next goal will be scored to who will take the next corner.
Ideal for everyone
It is no secret that good news stories are in short supply in the business world. This is especially true of investments, which have been a rare ray of light in otherwise dark times. Although Australian investors will undoubtedly be disappointed that they are unable to cash-in as much as they would like, it is only a matter of time before online betting becomes legal in their country!