An Insight into the World of Sports Betting in Australia
- Written by News Co Media
Recently, the gambling sector Down Under has become increasingly lucrative. According to IBISWorld's data, throughout the past five years, the Australian horse and sports betting industry was forecast to enjoy year-on-year growth of 3.6 percent, taking revenue totals to around £3.39 billion in 2019-20. Over the next half-decade, further progression is expected.
It’s hardly surprising that growth in this sector has occurred at a rapid rate because of Australia’s cultural love of sport. With country-wide admiration for competition, the popularity of real-world activities has positively impacted digital markets, such as online betting. So, let’s delve into the world in sports betting in Australia and analyse the opportunities available to prospective bettors.
Popular Sports to Bet On
At the time of writing, the Australian Football League is the most popular sport in Australia. As per Topend Sports, it currently tops the charts regarding online searches and attendance figures. In 2019, The
Conversation states that an average of 35,105 people attended the 198 games during the campaign. With such a passionate supporter base, it’s unsurprising that Aussie Rules is a leading market within Australia’s sports betting industry.
However, the action-packed, 126-year-old sport isn’t alone in being a much-loved market for placing wagers. Although outdoor cricket is the sixth most-attended game Down Under, it ranks second regarding online searches. Since the bat-and-ball sport began back in 1803 in Australia, participation engagement has continually risen within the 21st century. Now, the Sydney Morning Herald state that one in 15 locals play the game.
Aside from being the home to the highly-talented Baggy Greens, the country will host the Ashes in 2021-22 at famous venues, such as the Melbourne Cricket Ground, and has held the Big Bash League since 2011. Because of the array of domestic and international events that the country holds, there’s plenty to bet on throughout the year. Ultimately, this is why cricket rivals AFL are regarded as being the leading sport within the online betting industry.
As touched on above, horse racing contributes significantly to Australia’s digital betting sector. In 2017-18, the Australian Industry and Skills Committee reported that this industry contributed approximately £1 billion to the Australian Gross Domestic Product (GPD). Of that total, betting accounted for a significant amount, as did horse sales and prize money. Like cricket, horse racing is popular to bet on because many digital platforms host markets relating to much-loved local events, such as the Melbourne Cup. Not only that, but many also offer opportunities concerning overseas events, such as America’s Triple Crown races.
How Online Betting Works
Generally, the above sports dominate the industry, although betting opportunities aren’t limited to those activities. Having gained an understanding of these markets, it’s of utmost importance to learn how web-based betting works. Well, at some of the best Australian betting sites in 2021, there’s typically a four-step approach to placing a wager. Upon finding a bonus-offering operator with the best odds, you must first open an account and place a deposit. At some websites, like Zodiac Bet, the platform will then award a deposit-orientated sign-up bonus, such as a 100 percent match on the initial figure.
After that, it’s a case of perusing the operator of choice and deciding which markets to explore. As stated above, many online sports betting platforms, including bet365, have a wide-ranging selection on their websites. So, along with AFL, cricket, and horse racing, prospective bettors can also immerse themselves in baseball, basketball, football, snooker, tennis, and much more. Once selected, decide on your bet total and confirm your wager.
Concerning withdrawals, this process is often user-friendly at top-rated sites. Similarly to placing a deposit, heading to the cashier section of a platform allows for requests submissions to be made. In terms of payment options, there’s now a wide array of choices available. Aside from bank transfers, credit cards have proved popular, while E-wallets are also a viable alternative.
Can You Bet from Your Smartphone?
Following the rise of digitalisation, the online betting industry has become optimised for mobile devices. As such, it’s now easier than ever before to place a wager from a smartphone. That said, there are a few things to consider. Through a phone browser, it’s possible to access an operators’ available markets. However, this isn’t the most user-friendly way of betting through a mobile.
Prior to signing-up to particular platform, it’s worth considering whether they have a compatible mobile application. Because of the modern-day popularity of online sports betting, many operators have developed state-of-the-art apps. Bet365, for example, have optimised their platform, and their app is available across Android and iOS mobiles.
An Industry on the Rise
Prior to signing-up to a particular platform, it’s worth considering whether they have a compatible mobile application. Because of the modern-day popularity of online sports betting, many operators have developed state-of-the-art apps. Bet365, for example, have optimised their platform, and their app is available across Android and iOS mobiles.
