No matter what industry we take a look at, there is one trend that always pops up. We are talking about digitalization. It is everywhere, and we can expect the trend to continue in the next couple of years. Of course, the gambling industry, as one of the most innovative ones in the world, is following this trend. The easiest way to see that this is the case is to see the number of online casinos out there.
One of the best examples of how the digitalization of this industry has grown in recent years is the case of Australia. We are talking about a country that has recently managed to implement a regulation that will enhance the growth of the industry. As a result of that, it has managed to reach heights that weren’t possible before for the simple reason that there were many holes in the legislation.
There are numerous legitimate Australian-based gambling websites, like Betsquare Australia, you can find these days. As you can presume, this was a rocky road for the industry. It wasn’t easy to find the proper approach for creating the proper legislature and implementing it correctly. Today, we want to talk about the evolution of Australian Online Casinos, from the beginning to what they are now.
Australia and Gambling
If you take a look at some studies, you will see that Australia is widely regarded as the country with the highest number of gamblers in the world. In some of them, the percentage of those who enjoy this sort of entertainment goes up to 40% of the population. On the other side, you will see that the number of casinos per capita is the highest in the world by far. Some of them are among the most reputable ones in the world.
When it comes to the games Australians prefer, we are talking about quite a long list. However, every Australian out there will agree that slot machines have a special place in the heart of every Australian. Slot machines are so loved in this country that they have earned a nickname, pokies. Some studies say that almost 90% of the population of the country has tried to play these at least once in their lifetime.
If you compare these figures with any other country in the world, you will see that they are highest than in any other. Many people have the wrong perception of Nevada being the state with the highest percentage because of Las Vegas. Numerous studies clearly show that the Australian population is much more interested in this sort of activity than those of Nevada. It is present in the everyday culture of the locals.
The Industry
Since the number of gamblers in Australia is so high, the industry has grown so much in the last couple of years. For instance, you will see that when it comes down to the money lost, gamblers from this country have lost around AUD 24 billion solely in 2022. If you divide that amount to every citizen of the country, it will be around AUD 10k. You will certainly agree that this is quite a high amount, which attributes to the growth of the industry.
Only sports betting aspect generates more than $50 billion per year. We are talking about both the local and foreign players who come to the sites registered in the country to participate in these games. But that doesn’t mean that other categories of the industry are not as successful as sports betting. In fact, the most profitable games in the country are, as we’ve already pointed out, slot machines.
The Online Aspect
We have mentioned that the number of online casinos in this country is nothing short of exceptional. We have also stated that the reason for the increased number of these sites is the recent implementation of the legislation. Before that, the local market was flooded with websites registered in foreign countries. As a result of that, a lot of money was not controlled by the government and it simply left the country.
To put a stop to this occurrence, the government needed to find the way to find a way not only to prevent this from happening but also to create a habitat for the local industry to thrive. Of course, you will see that there are some roots of this concept in the 1990s after the introduction of the internet. However, for quite a long time, going to actual casinos was significantly more popular than the Internet version.
The real game changer occurred during the lockdowns imposed during the global pandemic of COVID-19. Australia had one of the longest lockdowns in the world, which left a mark on a wide array of different industries. Also, the habits of people have changed quite a bit, which stated that it is important for the government to think about the way to change the ways things work after it.
What Does the Future Hold?
The future is certainly bright for the local gambling industry. All the projects agree that this will occur in the future. There is no region or municipality in the country where the drop is expected in the next ten years. With that in mind, you will certainly agree that the local industry will continue to grow immensely in the future.
What we want to point out is that the online aspect of the industry will continue to be the biggest driving force behind it. If you take a look at all the most important online casinos, you will see that practically all the biggest players on the global market have a department in the country. So, all the elements are saying that this industry will continue to show impeccable growth in the future.
Summary
As you can see, the evolution of Australian online casinos is the most important aspect of the local industry. We can expect that this trend will occur in the future, that’s without a doubt. Here, we’ve presented the readers with an insight into the evolution of the local industry.
