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Australian Sportsbetting fastest-growing sector
5/26/10 - Research studies by IBISWorld analysts have shown that betting on sports has been the fastest-growing sector in the Australian gambling industry over the past five years, reports the Sydney Morning Herald, with Australians wagering a predicted A$2.9 billion on matches and leagues this financial year, compared to A$1.6 billion in 2004-05.
The newspaper notes that this represents annual average growth of 12 percent, dwarfing the increase of 1.2 percent on pokies spending and the 0.5 percent growth on betting on horseracing.
Analyst Sam Ellis, who managed the IBISWorld study, opined to SMH that the increased popularity of online gambling is one of the main factors behind the increase. Bet on sports now.
"There are more and more people who don't buy into that culture of going into the TAB or pokies [land shops] for a bet but who are happy to go on the internet and to bet online," he says. "Sports betting - and betting on something you know about - is particularly appealing to this younger demographic of gamblers.
"And when you compare sports betting to putting money in pokies, there is certainly a sense of a test of knowledge rather than relying on luck."
The analysis was based on total betting turnover, and revealed that the typical Australian household spends 3 percent of its disposable income on wagering and that the average adult will bet about A$1100 a year.
Alan Eskander, a top Aussie bookmaker, told the newspaper that the IBISWorld study accurately reflects the situation, and added that betting on sports is attracting punters who may not feel as confident when wagering on the traditional events like horse, greyhound and trotting races.
"Sports - whether you are talking about the NRL, AFL or soccer - ( bet here )get huge media coverage and really get people talking," he said. "It's no surprise that more people want to bet on something they have a knowledge and understanding of rather than sports like [horse] racing which, unless you've been brought up going to the track, can be more difficult to get a handle on," he said.
Eskander's company Betstar generates around 15 percent of turnover from wagering on sports, the bookie revealed, commenting that he believes this will increase dramatically in the future.
IBISWorld's study showed that despite the fast growth in sports betting, this form of wagering still lags far behind the money spent on pokies, which accounts for 71 percent of all gambling turnover, or more than A$109.4 billion, a rise of $6 billion over the past five years.
That dominance may not last, said Gerard Daffy, a manager for online bookmaker Sports Alive.
"If you go into a pokies venue the majority of players tend to be from an older generation or demographic,'' Daffy said.”There has been tremendous growth in sports betting recently. A large part of this has to be put down to increased coverage on TV.
''When digital channel OneHD began showing netball, we suddenly found there were people who wanted to bet on that sport.
''As more and more sports get live coverage - either on TV or online - we will see a real increase in wagering on those sporting codes," Daffy opined.
Betradar Launches US Sports Betting Solutions -
With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.
Final 12 For MPNPT Morocco -
Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).
MPNPT Morocco Updates -
Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.
MPN Poker Tour Morocco Day 1A -
The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.
2018 MPN Poker Classic -
The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.
PDC and Sportradar Renew Deal -
Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data
Poker Yaar Joins MPN -
Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.
New MPN Poker Rooms Tower Torneos -
Impressed with Microgaming, having already integrated with the Quickfire platform to gain access to some of the industry’s best gaming content, Tower Torneos has extended the relationship with poker.<
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