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Last updated: July 25th 2016
Placing a bet is more than a popular pastime in Australia. It is sewn into the Aussie culture. It is estimated that between 70%-80% of Australians participate in some form of gambling each year. And since the house always comes out on top, Australians lose more money gambling than any other nationality.
Australia provides some of the greatest freedoms to it’s citizens with regards to gambling as compared to other first world nations. While certain regulations exits for citizens, the Interactive Gambling Act of 2001 primarily focuses on the regulation of bookmakers and casino operators and not on the general population.
The existence of online casinos and bookmakers has also created a whole new list of gambling options accessible to Australians. Because of ever-evolving technologies, many government officials have been looking to review current national laws and set new regulations on the industry. While the Australian Parliament has lagged in setting new rules, some individual states in Australia have already implemented tighter restrictions on bookmakers and casino operators. However, even with tighter restrictions the amount each Aussie gambles has not significantly decrease over the past several years.
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According to data gathered by Fairfax Media and presented by the H2 Gambling Capital, Australian adults lose approximately AU$1,279 a year gambling. While followed closely by citizens of Singapore, who lose approximately AU$1,243, Australians lose close to 45% more a year gambling than U.S. citizens, who rank third on the list.
It should be noted that only 2% of the population in Australia are at risk for developing a problem with gambling. The number of citizens within that group who actually have developed a problem with gambling is even smaller. But there are positive sides to this exciting niche in the entertainment industry. The gambling industry provides roughly 86,000 jobs throughout the country. Also, Australian tax revenue and the enjoyment of gambling are valued around AU$12.1 billion to AU$15.8 billion a year. Much of the Australian gambling industry heavily focuses on bringing international players to our shores which constitutes a huge source of foreign revenue. As a result online pokies, the lottery, wanting to play keno online for real money, and all other forms of punting in Australia are unlikely to be facing any real threat by government restrictions anytime soon.
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