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SPORTS

Australian Gambling Statistics 2022-2023

Australians are among the world’s most keen gamblers. Nowadays, there are 2.7 million gaming machine users, more than 8 million people who gamble online, and an additional 5 million who bet on sports. The Australian gaming market generates $24.8 billion annually, making up approximately 4% of total GDP. Most Australians try to find safest online casinos in order to make the max out of their gambling activity.

However, gambling statistics are widely ignored by the majority of the Australian public. In Australia, there is no national data collection system for monitoring gambling. But there is a large focus on the development of gambling facilities rather than the consumer. Despite this, the Bureau of Statistics releases information from the government regarding gambling and online betting trends.

Gambling in Australia: The Big Picture

The Australian gambling industry is an extremely complex and dynamic one. Statistics about it are sparse and outdated as market information has often been overlooked. Yet, it is the country’s most profitable industry. Its annual economic contribution of $24.8 billion is higher than that of the country’s agricultural sector and mining industries combined.

Despite its obvious economic value, the Australian gaming industry is viewed with a great deal of skepticism. It is poorly researched, and its statistics are often used to promote myths rather than facts. The public is unaware of how gambling has changed and evolved. There is little understanding of the role it plays in the economy and its impact on society.

Gambling in Australia: Trends

In terms of the volume of betting, the industry has increased steadily since the mid-90s. According to the Australian Institute of Family Studies, there are currently 6.8 million regular gamblers in Australia (39% of the population), a number that has risen by 1.2 million in the last four years. Online gambling is estimated to be worth $9.4 billion annually. There is also substantial growth in the wagering of sporting events, with an estimated 7.3 million people, around 15% of the population, betting on sports on a weekly basis. This has risen by 1.1 million over the last four years.

Betting on horse racing is also gaining momentum, with a record $4.3 billion spent on betting in 2017. There has been a shift towards an increase in online betting, rather than brick-and-mortar betting. In 2012, the brick-and-mortar sector generated $7.9 billion, which increased to $9.4 billion in 2022. This was due to the rise in online betting platforms and modern technologies used by online gambling operators.

The industry is highly regulated, and its products are not subject to a gambling tax, unlike those offered through government-run lotteries. It is not surprising, therefore, that the popularity of these regulated products has continued to increase. This is also linked to the rise of new technologies such as sports betting apps. Australian gambling statistics have been widely ignored for a long time, which is why key industry numbers were not available before the start of this decade. The Bureau of Statistics was the first to release gambling statistics for the Australian economy. The first such report from the 2001-02 financial year showed the industry as being worth a total of $6.6 billion.

Gambling’s Importance to the Country Economy

Australia’s $24.8 billion gambling industry is by far its biggest profit generator. It generates approximately 20% of the country’s total GDP. The country’s gross revenue from betting grew at an average of 7% annually over the last 25 years. The industry’s annual revenue has been growing consistently. It has increased at an average of 7% per annum over the last 25 years. Over the last decade, the growth rate has been even higher (16%). Despite this, the industry remains a small part of the overall economy.

According to the most recent economic statistics, the industry has increased in value by 1.9% since 2015 as gambling has grown in popularity. This is partly because of the introduction of a number of state lotteries, which allow the government to generate additional revenue. However, betting is now dominated by a handful of privately owned companies.

The government currently receives less than 5% of its income from the gambling industry. It is a significant figure and is currently the country’s largest single source of income. The majority of this funding, $8.7 billion, comes from the sale of lottery tickets. State lotteries generated $5.9 billion in 2021. Other income from the gambling industry, which includes gaming machines, was $1.9 billion in 2020. This was an increase of $500 million from the previous year.

Australians spend $25.4 billion on lottery tickets each year, which accounts for around 11.2% of the country’s GDP. This has grown by 6.3% over the last decade. Around $9.3 billion is spent on government-operated online lottery tickets. However, this does not include a significant proportion of people who use the government-run lotteries and have purchased tickets through other means.

Gambling’s Impact on the Government

It is estimated that approximately 7% of all gambling revenue is spent on state and national government expenditure. The government receives around $1.7 billion in tax annually from gambling. This is not a large amount, but it contributes to the government’s finances and is vital for an economy that depends heavily on government funding.

The majority of the gambling industry’s tax revenue is collected through an annual tax on gaming machines. This is the most commonly collected form of gambling tax in Australia. A total of $1.14 billion in tax was collected in 2021, $400 million of which was from online and social gambling. This amounted to 16% of the industry’s total tax. However, the tax rates have been increasing along with the market itself.

With the introduction of the Online Wagering Tax Bill, the government hopes to increase tax collection. Online gambling is estimated to bring in a substantial amount of tax revenue, $850 million in 2021. Yet, it is not yet collected. This is despite a 2020 study showing that the online gaming sector is one of the country’s largest and fastest growing. This is only one of the reasons the government is looking to collect tax on online gambling.

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