Like any other country in the world, Australia has been hit by Covid-19. Thanks to the novel coronavirus, many sectors of the economy have been hit. The movement of people has been under strict control and congregating has also been a no in the whole country.

At one-point, social joints including gambling facilities were shut down. However, the country’s online gambling sector saw strong growth between 2015 and 2020.

According to IMARC Group, the online gambling market is expected to continue growing amid the coronavirus pandemic. The group has even said that there will be substantive growth in the Australian online market between 2021 and 2026.

“Although we are not out of the hook yet, we believe that the industry will realize new records,” says IMARC Group.

In other words, there are still numerous options for anyone looking for gamble online Australia betting sites. All the same, let’s look at the different areas where online betting has improved in Australia in the last few years.

Key Market Segments That Have Shown Great Improvement

Although it can be said that gambling, in general, has shown great improvement over the past couple of months, only a few segments have recorded high numbers. Betting on various sports has grown tremendously.

The move by the Australian government to restrict gatherings and people’s movement made it possible for a majority to resort to the use of online platforms. Because of this, the country and the region, in general, witnessed an increase in sports betting.

Some of the areas that recorded an influx in betting numbers include:

  • Horse racing
  • Football
  • E-sports
  • Live casino
  • Online slots
  • Blackjack
  • Online poker

IMARC Group, which conducted an online survey on how Aussies consumed online gambling during the pandemic period, also realized something else.

According to the team, certain areas recorded more extensive online gambling growth than others.

The areas that witnessed a lot of online gambling activity include Queensland, Victoria, and Tasmania, Western Australia, the Northern and Southern territories, New South Wales, the Australian capital.

A Blessing in Disguise

Despite a directive asking people to stay out of social places such as clubs and pubs, Australian gamblers found a way to gamble anyway. Figures from the Australian Gambling Research Centre show that young men always found a way to spend their afternoons and late evenings.

According to the report, the number of young men who placed a bet online four times a week almost doubled from the previous known time. The report indicates that the percentage of people who gambled four times a week increased from below 23 to 32 during the 2019 – 2021 period.

The report, which involved some 2000 Aussies in June and July, showed that most of those who were interviewed increased their betting during the pandemic. Although other legitimate age groups gambled, the young men between the age of 18 and 34 wagered the most.

This group of wagers created new online accounts, visited new betting sites, and spent more hours wagering online compared to what they did before the pandemic. In the end, the median figure also jumped from $687 before the pandemic to $1075 in 2021.

Rebecca Jenkinson, the lead researcher agreed that while there was an overall increase in online wagering figures, there was no significant increase in the amount spent by other age groups.

“It as if the young men were putting a show. They went in the opposite direction, which enabled them to spend a lot more than they did pre-Covid-19 and did so more regularly,” said Ms. Jenkinson.

The researcher went on to say that in most cases, increased wagering among the youth is because of social isolation, boredom, and as a means of the young connecting with their friends. She however added that the condensation of football codes, 24-hour access to the internet, and availability of digital wallets contributed to the increase.

Online Bookies Reap Big

As young Aussies continue wagering more during the pandemic, reports indicate that online bookies are reaping big. However, even as bookie owners smile, Aussie betting companies have warned gamblers to wager responsibly.

Financial reports show that Aussie’s most popular betting platforms have been reaping huge during the pandemic. The same report goes on to say that if nothing changes, the situation will continue until at least 2026.

For instance, Tabcorp’s wagering turnover from its digital platform grew by 3.8% in one year (2919-20) to hit $7.1 billion. The retail tumble turnover saw a significant drop by a whopping 27.9% to $5.4 billion.

GVC Holdings, the company that has Ladbrokes also said that although the pandemic brought many challenges, it also came with benefits. GVC Holdings said that throughout the pandemic, the online sector has recorded massive growth.

The company particularly said that it had recorded a sterling 43% increase in its online section in the first half of 2020. “Although we must say that there have been challenges, we also confirm that our collection in the online betting sector has been good compared to what it was before Covid-19,” said GVC Holdings.

Flutter Entertainment, Sportsbet’s parent company, confirmed that it closed the first half of 2020 with close to $200 million in profits. The company said that online gambling profits went up by 45% during the same period.

The Future of Online Gambling in Australia

According to analysts, the Australian online gambling industry will hit its maximum potential by 2025. When looking at individual countries, the same analysts and the Problem Gambling Website agree that a large percentage of Aussie adults (over 80%) are currently involved in at least one form of gambling.

With more than 4,700 lottery outlets and at least 6,800 pubs, hotels, and clubs that offer various forms of gambling in Australia, there is no doubt that the number of those gambling will increase.

As many young adults continue to access gadgets that connect to faster internet, and many platforms continue to offer easy to wager games, it is clear that the future of Australian online gambling is bright.