The issue of problem gambling has certainly increased in recent years, as the industry has become increasingly accessible. Additionally, research suggests that online gambling can be beneficial for certain types of people. It has been speculated that people who tend to be risk-averse in other areas of their lives may find solace from this type of activity. This could lead to both psychological and financial benefits. In conclusion, the Australian online gambling industry has experienced impressive growth in recent years. It is a major contributor to the national economy and provides jobs and revenue for the nation. It is also clear that its growth and impact have come with a number of challenges, namely in terms of problem gambling.
Nonetheless, the industry has proven to offer both positive and negative contributions to society and individual behavior. Australia’s online gambling industry is constantly evolving and adapting to changes in a global market. This dynamic industry has developed rapidly in the past decade and as such, there are numerous trends and statistics that help us to better understand this market. In terms of expenditure, the online gambling industry in Australia has grown significantly over recent years. In 2020, Australians spent an estimated $24 billion gambling, of which $51 billion was spent online. This accounts for 10.4% of Australia’s total gambling spend, and 10.9% of this figure was spent on online sports betting. This demonstrates the increasing popularity of online gambling in Australia.
The top activities for Australians gambling online include sports betting, casino, digital Australian online gambling gaming and horse racing. These activities are further classified by type of product – with casino being divided into poker, slots and table games; sports betting divided into fixed-odds and spread betting; and digital gaming divided into social gambling and virtual/simulated gaming. In terms of market share, online sports betting accounts for the majority of expenditure, while casino and digital gaming activities are gaining traction. It is important to note that Australians are just as likely to gamble both online and offline, with the majority of the population placing bets online, or both online and offline.