Australia’s Online Gambling Turnover Skyrockets Amidst Industry Growth
Australia’s gambling scene witnesses a significant surge in online activity, with a remarkable 165.7% increase in online gambling turnover, marking a new era in digital betting.
Key Takeaways
- Online gambling turnover in Australia soared by 165.7% to $75.4m.
- Online gambling now represents 31% of the country’s total gambling turnover.
- The data, which excludes sports betting and lotteries, shows growth across almost all channels.
- Gaming machines remained the most popular, while land-based casinos saw the biggest increase in activity.
- Gross gambling profit in Australia hit $32.0bn, a 13.8% rise.
- New South Wales is the leading region in terms of gambling turnover.
- The Australia Alliance for Gambling Reform calls for stricter regulations in response to the surge.
A Digital Betting Boom
In a record-breaking year for the Australian gambling industry, the online sector stood out with a staggering 165.7% increase in turnover, reaching $75.4m and accounting for 31% of the country’s total gambling turnover.
This significant surge demonstrates a shift in traditional gambling habits, with more Australians turning to the convenience of digital platforms for their betting needs. Published by the Queensland treasury and highlighting data primarily from territories where online operators are licensed, this report paints a vivid picture of an evolving landscape.
A Closer Look at the Figures
The growth wasn’t just limited to online gambling; nearly all verticals saw an uptick in activity:
- Despite the impressive performance of online platforms, gaming machines continued to dominate the market, pulling in $191.2bn—an increase of 20.9% from the previous year.
- Land-based casinos weren’t far behind in terms of growth, boasting a 22.6% increase in turnover to $20.0bn.
- On the profit front, the gambling industry as a whole banked $32.0bn in what’s termed as gambling expenditure or gross profit, marking a 13.8% rise from the last fiscal year. Of this, gaming machines generated an eye-watering $15.8bn, up by 22.8%.
Geographical Gambling Giants
When the geographical breakdown is examined more closely, New South Wales persists as Australia's gambling heartland, with turnover in 2022-23 climbing 17.1% to top $114.6bn.
Queensland, Victoria, and South Australia also made significant contributions. In terms of gross profit, New South Wales once again led, contributing $12.9bn to the national total.
Calls for Regulatory Reform
The report’s publication hasn’t gone without critique, especially concerning the social implications of these increases. The Australia Alliance for Gambling Reform expressed concerns over the “alarming” rise in player spend, attributing it to a lack of stringent regulatory frameworks.
They urge the adoption of a national strategy on gambling and the establishment of a national regulator to curb this trend. Despite these calls to action, Prime Minister Anthony Albanese remains cautious, focusing on the ongoing discussions for potential regulatory adjustments rather than an outright ban on gambling advertising.
The Ultimate Question
What does this all mean for Australia’s gambling landscape?
With online gambling’s meteoric rise and the exponential growth across various channels, the industry is at a crossroads. Balancing the economic benefits with the societal impacts will be crucial in shaping the future of gambling.
Will Australia usher in a new era of regulation, or will the digital betting boom continue unhindered? Only time will tell, but one thing is certain—the Australian gambling industry is more vibrant and dynamic than ever before.
Olivia is an experienced journalist passionate about keeping our readers up to date with the latest in casino and iGaming news.
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