eGaming:Aussies Spend $600M Per Annum
The huge growth of internet gambling has reached the far corners of the globe the last couple of years. Recent research indicated that there has been a remarkable increase in internet gambling in Australia as well.
Australian punters spend on average $600 million per year at their favourite internet casinos and online sports betting sites. Like the United States of America the Australian government must still find a method to properly regulate this ever-growing industry.
The Australian Market Is Huge
Researchers studied the internet gaming habits of 6,500 Australian respondents who revealed the patterns of their gaming activity in an online questionnaire. The findings indicated that more males wagered online than females, were ten to one married or living with someone and had a higher income than those punters who wagered at land-based casinos. Interestingly, the study also revealed that punters who wagered online played a larger variety of casino games as opposed to those who wagered at land-based casinos.
The reason why internet gambling is so popular among Australian players is because it offers flexibility and a high degree of choice. Online games that are popular are sports betting, followed by casino games and poker. Between 2004 and 2008 the amount of internet sports increased by 103 percent.
Alex Blaszczynski from the University of Sydney pointed out that technological advancement is the main reason why online gaming has grown so exponentially the last 4 years in Australia. Especially if one takes into account the popularity in smart phones, iPads and tablet computers. Internet gaming has become a very important pastime and is now more accessible than ever before he said.
The Australian government allows online sports betting since the country’s residents are fanatic about rugby, cricket and Aussie rules. Presently poker and casino games are considered illegal in Australia, making the findings of the report all the more interesting. Australians can still wager legally at an estimated 2,000 foreign based internet casinos and they’re doing so at an alarming rate.
This brings us to the question, how about regulation? Taking into account that so many Aussies are already gaming online, the authorities must ensure that its citizens are protected, wager responsibly and find a way to regulate it. Tax wise the Australian government is not benefiting from online gambling. This dilemma is a universal problem not only restricted to Australian legislators, but authorities in the United States and in many European countries must find middle ground as to how they’re going to tax and to ensure responsible gambling.
Due to its immense popularity internet gaming will remain in the land of Oz for now and will continue to grow hopefully its government will regulate it soon.[addtoany]