Business Daily.
A+ R A-

What Is The Future of the Australian Gambling Market?

The gaming industry is expected to reach maximum potential by 2025, the European Business Review reports. When it comes to gambling, Australia is definitely one of the first countries that come to our mind, with around 80% of citizens involved in at least one gambling activity, according to the Problem Gambling Website.

There are around 4,700 lottery outlets and more than 6,800 clubs, pubs, and hotels that provide gaming in Australia. That’s probably the main reason why so many Australians gamble – the high number of venues that provide gambling activities.

It’s one of the first countries that formed a gambling-friendly legislation system. Australia officials made a decision to adapt to every new technological development, including online casinos.

Thanks to lawmakers, the country became the best place for gaming platforms and online casinos. Online Australian pokies bring most of the revenue to the Australian budget.

These people just love to gamble. Statistics show that each citizen spends a bit less than $1,000 annually on gaming platforms. Their love for gambling has made them the world’s biggest gambling losers.

Their gambling losses per adult are double the losses in the USA, and 50% higher than those in Singapore, The New York Times reports.

More Than Just a Popular Entertainment

However, gambling is more than just popular entertainment in this casino-friendly country. It’s a public health issue as thousands of Australians are experiencing problems from gambling. Namely, 80,000 – 160,000 adults in this country are experiencing serious problem gambling, and additional 250,000 – 350,000 adults are experiencing moderate risks that can lead to problem gambling.

That’s why the government keeps a close eye on the gambling market. It keeps on implementing a series of measures to promote and support responsible gambling. The aim is to make the gambling environment safer and provide help for problem gamblers in the country.

In 2018, the country noted a record amount of money spent on gambling. As a result, the government has taken certain measures to reduce this amount.

Many gambling events were held in Australia this year, poker events being one of the most popular ones. It seems that people love playing or watching poker tournaments.

A lot of representatives from the gambling industry donated millions of dollars to the Australian bushfire relief fund in 2019.

Working Hard on the Gambling Issue

Unregulated spending and gambling addiction are major problems in the gambling industry. Authorities are trying hard to resolve these problems by introducing and implementing certain initiatives, such as the limitation on credit cards as a paying method in land-based and online casinos.

Some banks have deactivated the accounts of gamblers, while others are working together with gambling companies to limit the gamblers’ spending. Gambling activities are now significantly restricted to gamblers and companies.

The main reason for this move was the fact that credit cards are linked to higher risk and more money spent on gambling activities.

In December 2019, another initiative was introduced – excluding oneself from betting sites and online casinos. Self-exclusion is one of the most effective methods to address problem gambling that used in Fair Go casino. Gamblers can ban themselves for at least 3 months. There’s even a lifetime ban for those with gambling addiction.

Face Recognition – A New Technology

The purpose of this new technology authorized by the Australian government is to reduce the number of under-aged gamblers and prevent further gambling addiction. Face recognition allows online casinos to recognize one’s face and set up the player’s identity within 2 weeks.

This technology will prevent young people from registering or using gambling websites through the accounts of their parents.

In the past two years, the rate of gamblers has significantly reduced from 70% to 24% which is really impressive.

The Future of the Gambling Market in Australia

The Australian gambling market is on a good path to become a healthier and safer place for everyone. Even though the number of gamblers has reduced, and fewer people are now interested in gambling activities, the Australian gambling market is slowly but surely becoming the healthiest one in the industry.

All initiatives are expected to be implemented in the near future, so the addiction rates are about to drop. Still, all eyes are on the proper promotion and support of responsible gambling by casinos.


Business Daily Media