The Future of Online Gambling in Australia

Market Research analysts predict the gambling industry will be worth $112.09 billion by 2025. Many other forecasters, including KPMG, attest to gambling featuring the most explosive growth in the medium term. The Asia Pacific and Western European countries dominate the gambling market, but new players such as Australia are accelerating their efforts to obtain a piece of the action.

Gambling in Australia

According to analytics firm AlphaBeta, gambling spending grew by almost 300% in 2021. We can attribute the growth to many factors, but the most salient is the Australian government's receptive laws to gambling.

Online gambling is no longer a topic to shun. The government and top Australian gambling firms legislated new laws to give the end-user a more rewarding experience.

Initially, the only law to regulate gambling was operator-based and was enacted in 2001. The Interactive Gambling Act didn't safeguard or regulate the key players in the industry-gamblers.

Initially, the law faced backlash from stakeholders who couldn't meet the compliance threshold. However, the betting firms slowly incorporated compliance policies into their structures, which saw many sites provide more offerings for the everyday Aussie gambler. Other complementary laws have been formed through the years to control the erratic gambling market.

However, fast forward to 2022, and the Australian Communication and Media Authority (ACMA) reported that 11% of the gambling population in Australia ventured into online gambling at one point.

The most common form of gambling is online lotteries accounting for 21% of the population. Closely following are races and card games. Illegal gambling firms offer more options such as pokies, online casinos, and in-play sports betting, but the ACMA is actively closing them down.

ACMA's Role in Gambling

The ACMA craves more power in the gambling sector, which overall isn't a bad thing, but not necessarily a lifeline for gamblers to hold on to.

The ACMA has blocked 354 illegal gambling sites and 21 affiliate marketing sites, according to their report. The rationale behind the closure isn't convincing to many Australian gamblers, but the ACMA thinks it's the best way forward-only time will tell.

Closing down illegal establishments aims to address the pertinent issue of firms that operate in Australia but do not subscribe to Australian gambling purviews. Such sites are gamblers' favorites since they offer more ways to make money.

One in every 20 gamblers uses illegal platforms. The ACMA's efforts to curb the illegal sites face challenges. Speaking to Australian senators, Nerita O'Loughlin, chairman of the ACMA, said, 'If you look at some of our other legislative responsibilities, we had specific powers to compel information from say the telecommunication companies… we don't have similar powers to compel information from platforms on misinformation and disinformation.'

The ACMA has already requested the ISPs to block notable sites such as Cherry Gold Casino, True Blue Casino, Two Up Casino, and Red Dog Casino.

In search of gold-standard gambling, the ACMA will have regulations at its core. We hope they'll be more receptive to gambling options such as poker. More power to the ACMA may just be what the country needs for a safer and more rewarding gambling experience.

It's a race for time in Aussie's gambling industry. Key players who liaise with the ACMA and improve gambling experiences for users stand to benefit the most in this fast-growing industry.

Likely Gambling Trends We'd Love to See

Sure the Australian online gambling industry has made significant strides to increase betting offerings and improve security. KYC features, chatbots, and fraud detection systems are the industry standard for gambling. But there is always room for more advancement.

Notable trends not yet incorporated in the Aussie gambling industry are in-game eSports gambling. Many Australians haven't been absorbed in the eSports frenzy, but the market could significantly increase revenue inflow for both the gambler and the firm.

Another trend that may transform the industry is online slot machines. There are 196,301 gaming machines in Australia, according to Amazon's reports. While the clanking of coins is a refreshing experience, online machines reach a far wider audience and do not have geographical restrictions like brick-and-mortar machines. Technology-savvy, top Australian gambling establishments can use VR to create immersive experiences for gamblers who love slot machines.

Which Way Forward, Aussies?

The gambling industry has its pros and cons. But by whichever metric you screen gambling, it can generate life-changing profits. That Australian government efforts to curb illegal gambling are doing more good than harm, contrary to what many Australians may presume.

Safer gambling, instant payouts, and multiple betting options are at the forefront of the Aussie gambling sector revolution.

As a gambler, ensure you bet on top Australian gambling platforms that comply with the 2001 Interactive Gambling Act.