Casino Industry in Australia

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by Staff & Contributors

in Gaming & Tech

Gambling is one of the favorite activities of Australians. More than 3/4 of Australians engage in some sort of gambling each year, from playing online slots to visiting land-based gambling establishments and betting online. Gambling is also one of those attractions that lure thousands of tourists to Australia’s big cities. Such popularity makes gambling in Australia a very profitable industry, with an average 5 billion income per year.

Australia’s Land-Based and Online Casinos

All types of gambling thrive in the land of kangaroos. Australians are very keen on sports betting, particularly horse racing. The first Horse Racing event with gambling opportunities was held in 1810 and since then, people have been betting on all kinds of sports in Australia – from cricket to tennis. It is possible to bet online and offline.

The first land-based casino sprung up in 1973 in Tasmania and since then, the casinos generate a very good revenue. The first casinos were built in British-club style but later, American-style casinos replaced the conventional ones. Nowadays, there are 13 official casino establishments in urban areas but there are many more on-field sites with poker machines. The revenue generated by poker machines each year is nearly 10% of all the gambling revenue across the country.

However, the highest profits are obtained from online gambling. Online gambling in Australia incorporates sports betting, poker, slots, and lotteries, and generates 75% of the total gambling income of the country. Playing at an Australian online casino is possible from any country in the world and that’s why there is no limit regarding the profits.

Gambling’s Influence on Economy

Casinos create great opportunities for revitalization of urban areas. Most casinos are built with the aim of attracting tourists to the area. And it works: there are thousands of tourists that come to gamble each year, spending an average of 4900 dollars on a gambling trip. A lot of work places are created by the gambling industry, and the shops, restaurants, and hotels that appear in the proximity of casinos create additional opportunities and bring more money to the city budgets.

Some people believe that online casinos like Coolcats casino do not provide the same benefits and it is true to some extent. Online casinos do not create many jobs and have no effect on urban development. However, they generate a lot of income that flows to the Australian budget through taxes since gambling is the industry with the highest taxation rate in Australia.

At the same time, Australian authorities control the negative effects of gambling trying to neutralize them. Each state has a gambling authority that regulates local establishments in terms of fair gaming. Such issues as problem gaming, addiction, and other issues related to gambling are tackled step by step.

Overall, Australia has a well-developed gambling infrastructure with a lot of potential for growth. With an estimated 6.2 billion dollars annual revenue to be obtained by 2020, gambling is sure to thrive in Australia in the years to come.

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