The Sunday Telegraph has reported that Australians are to spend more than $26 billion on sports and race wagering this year. These bets also include local and international events, such as the National Rugby League, the Australian Football League, tennis tournaments, football matches and others.
The main reason for the increased betting rates for the past years is the growing use of mobile devices and the availability of mobile betting options. Australians also bet through personal computers and tablets. The betting rates and the bet cost on average have increased. This trend shows no signs of stopping in the near future.
The biggest online operator in Australia – TAB, owned by Tabcorp, reported that close to half of the bets it processes are done out of its official outlets. There are other reasons for the increased betting apart from the availability of mobile devices. The growing viewership of sporting events has attracted new and has strengthened the loyalty of regular bettors. For example, the Melbourne Cup of this year is planned to bring an income of $300 million from wagering. The annual increase of betting is 3% for the last five years or more than $1,000 of betting per Australian citizen each year.
The number of high bets has also gone up. For example, there was someone who had put a seven-figure bet on Rafael Nadal in a tennis match, winning $20k as the ratio was very low. Many Australians bet huge amounts of money on the Melbourne Cup, hoping for an easy cash-out.
The Grand Final of the National Rugby League, for example, generated more than $14 million and despite being much less than what the Super Bowl sport events generate in the United States, the increase in betting is considerable.
Horse racing has also been a popular choice for wagers, scoring above $20 million and despite its current lead over sports betting, sports events will continue to attract new wagers due to their spectacular and universal nature.
Despite the positive reports of the sports and racing sectors, the chairman of Tabcorp thinks the numbers can be even better. A major obstacle, however, is the betting done through international platforms, which are not licensed by the Australian legislature. Paula Dwyer stated that close to 15% of the money coming from betting leaks out to international gambling operators.
She further explained that by betting through unregulated operators, Australians run the risk of losing their money and local authorities will not be able to protect them. She urged Australians to bet through licensed operators, as in this way the money will be circulated inside the country and will contribute towards social development and funding of local communities instead of being given away to international businesses.
Ms. Dwyer urged the local authorities to follow the example of European countries, which have put great effort into dealing with unregulated operators. Australia should look to ban any unlicensed operator that offers betting services to Australian citizens.
