The Australian gambling industry has been a significant contributor to the economy despite being heavily regulated. In 2022, the industry contributed approximately 420 million Australian dollars. A huge percentage of this revenue was from lotto, gaming machines and other gaming activities. The industry is expected to grow further in 2025, driven by factors like changing customer behaviour and technological advancement. For context, the market size was approximately $4.9 billion in 2023 and is expected to reach $8.5 billion in 2032.
Gambling Forms Raking in Revenue
Gambling is at its all-time high in Australia, but only a few games rake in the most revenue for gambling businesses. They include pokies, blackjack, poker, video poker, online gambling, and sports betting.
Pokies
Electronic gambling machines, commonly known as slots in other parts of the world, are called pokies in Australia. These machines allow players to spin reels, match specific symbols, and win payouts. They are an all-time favourite for Australian gamblers because they are widely available in hotels, clubs, pubs, and supermarkets.
Pokies also tend to be engaging since they offer a wide range of themes. The prospect of winning jackpots is also another motivation to play pokies in Australia. Some of the most popular games include Queen of the Nile, 5 Dragons, King of the Nile, and Lucky 88. These titles are available on New Online Casinos Australia websites as well.
Blackjack
Blackjack, a table game, is also another favourite that combines strategy and skill with gambling. The game is simpler than most table games and has a low house edge, making it a good fit for both new and experienced players.
Those who want convenience and realism can enjoy live dealer blackjack games in online casinos.
Poker
The history of poker table games in Australia dates back to the 18th century. Its combination of strategy, skill, and psychology makes it a fun and engaging game for players.
It boasts high rollers who attend tournaments and cash games, attracting many Aussie players. Online platforms in Australia also offer significant bonuses for poker players, making it one of the money-makers in the gambling industry.
Video Poker
Like others on this list, video poker is a fan favourite among new and experienced players. The game is less intimidating since it takes place online. Regardless, it still offers the thrill of gambling that many players are looking for. Many Aussie casinos offer free-to-play video poker that helps players sharpen their skills before playing for real money.
Online Gambling
Convenience is the major reason why Aussies love online gambling. With an internet connection, they can play their favourite games in the comfort of their homes. Online casinos offer a variety of games to choose from, giving them more to look forward to.
Sports Betting
Australians have always loved sports betting because of the love of sports in the country. There is also a wide range of options for sports betting in Australia. Fans can place bets on football, tennis, cricket, Australian rules football, and horse racing, among others.
Legal Changes
The industry thrives at the expense of Australians, and the Australian government has come up with some changes to manage the industry with a focus on online gambling. It introduced the interactive gambling amendment bill in 2016 to restrict the online gambling sector.
The Australian government also introduced another law for online wagering called the national consumer protection framework for online wagering. This law is intended to protect the rights of Aussies who participate in betting activities online to promote responsible gambling.
Besides these laws, the government has also implemented the BetStop to protect vulnerable people. This is a national self-exclusion register that allows bettors to exclude themselves from playing in licenced casinos in the country.
There has also been a credit card ban that prevents players from wagering online with credit cards. Gambling businesses that fail to enforce this law are fined thousands of dollars.
The government also updated the anti-money laundering rules in 2023 to ensure that online gambling service providers identify customers properly before they are given access to the casino.
Currently, the government is planning to reform the advertising rules of online gambling businesses. These rules are expected to ban gambling adverts during and after live sports events. The number of broadcasts per hour will also likely be reduced, and advertising during children’s games will be completely banned.
Challenges
The betting industry faces a huge challenge in Australia, mainly because of the financial pressures, regulatory issues, and public perception. Financially, the market is experiencing a downturn. Regardless of the $50 billion turnover per year, gambling companies still report lower returns, higher costs of living, and a weaker market.
Regulatory challenges are some of the biggest hurdles the industry is facing. Many are at risk of fines for breaches and are required to limit advertising strategies.
Finally, the public perception of gambling poses a challenge for the industry. For one, the industry’s leadership is seen in a poor light and ranks low for integrity and leadership.
The growing problem of gambling addiction has done nothing to quell this perception. According to research, 40.7% of sports bettors have gambling-related issues in Australia.
Growth Potential for 2025 and Beyond
Despite these issues, Australia’s gambling industry still has the potential for growth in 2025 and beyond. The industry is expected to reach a revenue of $4.95 billion in 2025 with a 15.7% user penetration. It is also projected to reach approximately $11 million by 2034, seeing a 7.89% growth.
New technologies, such as virtual reality, are expected to increase this potential. Gambling companies are already offering virtual reality gambling to provide an immersive experience while retaining privacy and reducing pressure.
Other technologies, such as artificial intelligence, are helping personalise the gambling experience for players. When players find their favourites tailored for them, they are likely to spend more time playing and enjoy the game more. Cloud gaming is also on the rise with faster internet speeds. Players can stream games without powerful gaming hardware, getting the best of both worlds.