Do you want to know how the Australian gambling market is developing? How has COVID-19 influenced online casinos? And want to learn about development prospects? You will find all the answers in this article.
The popularity of the gambling market
Online casino industry is extremely popular in Australia. Oceania is considered one of the world’s largest gambling markets.
80% of the Australian adult population is involved in some kind of gambling. Australia is a country where such entertainment is completely legalized. Every year, residents of the country spend over USD 6 million in casinos. This is approximately USD 500 per person.
Moreover, the results of analytical studies show that the majority of Australian gamblers prefer to play online at PlayAmo Casino Australia.
The only piece of legislation was the Interactive Gambling Act of 2001, known as the IGA. The regulation under the new law was similar to what the US government did in passing the UIGEA. This law does not make online gambling illegal for customers; it targets gambling providers.
Online gambling is also divided into several categories:
- casino games: roulettes, card games, poker and others;
- slot machines;
- lotteries, bingo;
- tote bets;
- sports betting.
The law allows online services. However, the operator must be registered in Australia. At the same time, it is allowed to accept players from other countries where the gambling business is legalized.
Actually, gaming providers found to violate this law are subject to fines of up to USD 1.1 million for each day of illegal activity.
However, Australians have been able to bypass the IGA. Modern methods of processing online payments and e-wallets allow players to freely and securely transact with their chosen casino operator. On the one hand, they help protect the interests of players, and on the other, they serve Australian online gambling platforms.
The impact of the pandemic on Australian online gambling
Due to quarantine measures in Australia which are aimed at combating the coronavirus, interest in online gambling has increased. According to the consulting company AlphaBeta, online betting turnover grew by 67% during the closure of land-based gambling establishments.
Australia’s gambling market is estimated at around USD 15 billion. Experts say that a significant part can now move to the Internet, and not work offline.
The future of gambling in Australia
Much of the attention of gambling legislatures is directed towards regulating poker slot machines and not online casinos. Politicians have called the development of anti-gambling legislation a priority, and in an attempt to restrict poker games, they have developed the idea of introducing something like “smart cards”, where a limited amount of money that a player can spend is a bullet, after setting a limit on the amount of money that can be lost.
Speaking of online casinos, they have managed to escape the scrutiny of the Australian legislature as they are outside the realm of parliament. And since the Government previously decided not to legalize online poker and in-game betting, contrary to popular expectations, Australian gamblers can continue to gamble online, rejoicing that this is not subject to the Law on Interactive Gambling.