All you need to know about sports betting in Australia
Sports Betting in Australia: History, Rules, and Largest Bookmakers
Are you interested in online sports betting, including rules and regulations, most profitable odds and sports betting sites, and the history of sports betting in Australia? If so, then read on.
Largest bookmakers in Australia
Among Australia’s largest bookmakers, one can find the following names: Sportsbet, William Hill, and Unibet. Sportsbet, being established in 1993 became Australia’s first licensed bookmaker.
When first established, Australians could only bet on a horse or greyhound racing. Nevertheless, nowadays, one can place a wager on any type of sport.
Moreover, various betting options’ availability also increased greatly. William Hill as well has many advantages such as a free bet bonus and promotions. Unibet is also considered the largest and most popular bookmaker in Australia and many other countries around the world.
It is an important regulation that Australian bookmakers are not allowed to offer sign-up bonus bets. However, there are various sports betting sites, where everything is precisely planned and optimised, from the specific mobile applications to the top-tier security, varied payment, and withdrawal options, commitment to ethical gaming, and 24/7, expert customer service department.
A long history of sports betting in Australia
In 1810, the first known organised gambling event in Australia took place at Hyde Park. It was a horse race. By the late nineteenth century, horseracing had grown in popularity, with tracks in most major cities.
Bets on horse races were only permitted to be placed through a bookmaker until the early 1930s. In 1931, the invention of the telephone and the radio transmission opened the way for many illicit bookies to start profitable operations. By the 1970s, sports betting had become one of Australia’s most popular types of gambling.
Why do Australians like to bet?
When it comes to betting, Australia is the world’s top destination. But what is the reason behind it? Some figures can demonstrate the importance of betting in Australia.
The Australian Gaming Statistics (AGS) report offers information on all legal gambling in Australia. The Queensland Government Office collects it on a yearly basis while collaborating with all Australian states and territory governments.
Australians bet for a total of 204 billion dollars last year. The gambling business in Australia produced roughly 22 billion dollars in profit, representing a significant profit margin for bookmakers and casinos.
Age restrictions
All participants in online betting games in Australia must be at least 18 years old. This legal gambling age is the same across the country. A total of 6.8 million Australians are believed to bet on a regular basis.
This group, according to the Australian Gambling Research Centre (AGRC), has distinct socio-demographic features. Males aged 50 and up are significantly overrepresented among Australian gamblers.
Addiction to gambling
When it is about gambling activities, the statistics given above represent the world’s highest ratio. Even though this does not apply to all Australians, it is believed that about 40 percent of Australian gamblers have significant addiction issues.
According to one of Australia’s leading gambling researchers, addicted gamblers have a detrimental influence on friends and family. Gamblers with difficulties were overrepresented among men aged between 19 and 29, who were jobless, single, and had low incomes.
The expansion of online sports betting in Australia
Although sports betting was prohibited in Australia until 1980, it did not prevent Australians from betting. Visitors to horse racing events used to gamble illegally.
Now, however, the sports betting industry in Australia is considered to be one of the most expanding among others. Nowadays, more and more Australian gamblers favour kinds of betting that require skill sets and experience, particularly in sports betting.
In terms of these sports bettors, a significantly greater proportion is male, under 50 years old, had an average of 12 years of schooling, worked full-time, and earned the greatest earnings.
Laws, Rules, and Regulations
Profits from online sports betting are not taxed in Australia, making it an even more appealing place to gamble. Gains from gambling activities are not classified as income by the Australian government, but rather as a consequence of chance.
Gambling is seen as a leisure pastime rather than a career. Although Australian bettors are not required to pay tax on their gains, gambling providers such as internet bookmakers are. The taxation system in Australia varies from state to state.
