Australian Betting Sites Reach New Highs
A recent report released by Australian Gambling Statistics revealed that the Australian gambling and betting industry pulled in over $23 billion in revenue during the course of 2015. While the news may not come as a surprise to many punters, the results clearly show that Australia is indeed a nation of avid gamblers, with a 7.7 per cent overall increase seen across the board in the gambling industry.
Record Revenue for Online Gambling
The annual compilation of gambling spend showed that on average, Australians spent $1,241 per person between 2014 and 2015. The bulk of the revenue was generated by none other than pokies, Australia’s perennially favourite games, pulling in over $11.6 billion alone. This figure marks a 4.9 per cent increase over the previous year, with 2016 looking to increase revenues even further.
Sports Betting Revenue Increased by 30.1 Per cent
The sports betting industry also showed a massive upswing with a total revenue increase of 30.1 per cent up on the previous year. Despite the fact that sports betting is the smallest gambling sector in Australia, the industry still managed to pull in a massive $814 million. On top of sales from online pokies and sports betting, the gambling industry also benefited from a whopping $1.7 billion in Lotto sales and $2.8 billion from the horse racing sector.
A Call for Tighter Gambling Restrictions
While gambling operators might be encouraged by the marked increase in betting activity, the results have reignited the drive for tougher restrictions on gambling by leading politicians. While the anti-gambling proposal takes tractions bolstered by local support, the government will be fully aware of what the increased revenue means for the country.
Any subsequent reduction in online gambling and betting revenue could potentially reduce the overall revenue of the country including major tax revenue. Adding restrictions to online pokies and sports betting would certainly reduce the number of players and punters going online. This would mean huge tax revenue losses for the government itself. In a time when the government cannot afford to lose money, it would seem that this is a move the government might want to consider carefully from all sides.