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The Booming Landscape of
Online Gambling in Australia in 2024 |
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| Image Credit :
Pexels -
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The iGaming market value in Australia is to reach US$ 4.9billion by the end of 2023. Market projection reveals it
to reach USD 8.5 billion in 2032 depicting a CAGR growth rate of 6.2% for 2024 to 2032. The acceleration of the market is caused by the wide availability of
high-speed internet, social distancing that was implemented as a response to the COVID-19 crisis, and innovative technologies like VR, cloud gaming, and
AI.
Australia Online Gambling Market Trends/Drivers
Impact of the COVID-19
Pandemic
A momentary change occurred when land-based gambling establishments were closed and social gatherings were prohibited due to the COVID-19
crisis hence, online gambling moved into force. Putting the social distancing ideal, staying home requirements, and lockdowns to some extent turned people over
to the idea of using online entertainment such as online gambling in the place that was created by this leisure time. Also, the accessibility of virtual sports
and esports wagering on the Internet increased and it narrowed the gap between sports enthusiasts and other betting opportunities in the online platforms. The
pandemic acted as a catalyst to the onset of technological transformation in all the sectors and gave a boost to the number of internet users on these online
betting platforms as they resorted to virtual entertainment due to imposed social isolation and prohibition laws.
Innovations in Digital Gaming
Technologies: A Technological Influence on Digital Gaming
The introduction of modern technology with tools such as enhanced virtual reality (VR) and
augmented reality (AR) has brought revolutionary gaming experience by allowing people to immerse themselves into the game and interact with the environment in
very interesting ways. In addition, the employment of AI in gaming invented new characters that play intelligently and created personalized gaming experiences.
With the popularity of mobile devices and introduction of cloud gaming, more and more players have been attracted to the online gaming world. The providing of
highly complicated, top quality games and ability to use the game across different devices, to the gamers, have further increased the adoption of online
gaming.
Segmentation of the Online Gambling Industry in Australia
Breakdown by Game
Category
The market segmentation report by game type, includes sports betting (football, horse racing, e-sports, etc.), and casino games (live
casino, baccarat, blackjack, poker, slots, etc.). According to the findings, sports betting dominated the market share.
The people of Australia's
penchant for sports and their zeal for all kinds of sports have taken sports betting to the next level hence the growth in its popularity has been the key to
this market explosion. The taken availability and convenience of the online platforms also play into the continuing attraction of sports betting.
In
addition, online bookmakers offer a lot of diverse bets, ranging from cricket to rugby, football, soccer, horse racing as well as other sports, which has
eventually become another driving force for their growth. The juicy selection of sporting events and betting markets offers good variety for a differentiated
player base.
Participants of globally leading sporting events and tournaments, like Australian Open in tennis, Melbourne Cup in horse racing, and
cricket matches, generate a high majority of betting activity. Along with this, together with many live betting options, sports betting followers can get into
real-time betting which helps them to increase excitement and naturally, grow the market. Additionally, the development of sports betting online in Australia
is a consequence of more advanced technologies, including mobile betting apps and user friendly interfaces presenting punters with a convenient way of placing
bets from their smartphones and tablets and this in turn is contributing to the prevalent positive outlook of the market.
Segmentation by Device
Type
A breakdown and assessment of the market with the help of a detailed device types classification that includes desktop, mobile and other ones.
Just as shown on the results, desktops dominated the market.
Desktops offer certain advantages, like larger screens, better processing power and a more
intense casino games and virtual betting experience, which is suitable for many gamers. Furthermore, it is seen that people like the comfort and the stability
and hence make use of desktops for longer gaming times. This leads to the growth of the market.
Besides this, computers enable a more secure gambling
environment because they are less subject to malware and data breaches when compared to mobile phones. As this sense of security comes along, players who are
concerned most about the safety of the financial transactions and personal information get attracted.
The veteran gamers, usually opting for
old-fashioned table games and sportsbook themes, mainly handle their operations on desktops. Secondly, some online gambling websites offer exclusive features
and promotions exclusively for desktop users and they are the ones that are likely to go for desktop thus propelling the market growth.
Regional
Segmentation
A detailed regional analysis including the Australian Capital Territory and New South Wales, Victoria and Tasmania, Queensland,
Northern Territory & Southern Australia and, finally, Western Australia, as identified as the primary regional markets. The report drawn from the market
data suggested that the Capital Territory and New South Wales regions of Australia had the biggest market shares.
The regions of Australian Capital
Territory and New South Wales are foremost progressed by the high penetration of the internet, incessant technology improvement, and the afterword of the
recent COVID-19 pandemic. Additionally, the dramatic increase in urbanization, the swelling of the population size, and the almost-exponential increase in the
number of people online plays a significant role in the expansion of the market. High-speed internet access and the fact that smartphones and tablets are most
used in these areas result in more popularity of the Australian online casino gambling platforms in
australia among its users.
Moreover, we have to point at the recent rise of COVID-19 pandemic, which of course has brought many limitations in the area
of physical gatherings, thus encouraging more people to try online entertainment that they have never done before, including online gambling for leisure or
amusement, and so representing a major driver for the growth. On the other hand, those regions are host to big cities as well, such as Sydney and Canberra,
known for their nightlife and entertainment, which are also becoming important catalysts in the growth of the industry as a means of entertainment and
relaxation leading to a faster growth. |
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