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Online Gambling To Create Boom For Australia
Wednesday August 29,2012 : ONLINE BETTING WILL DRIVE SPORTS BETTING BOOM DOWNUNDER
Deloitte report commissioned by Sportsbet predicts a A$3.3 billion market
Online betting is set to drive the Australian sports betting market to new heights, particularly in the nation's two football codes, a study by the internationally respected business services firm Deloittes indicates.
The study, commissioned by internet betting firm Sportsbet.com.au predicts that betting on Australia's AFL and NRL football codes will double over the next five years to A$3.3 billion, driven by strong growth through online and mobile channels.
The Deloittes study found that annual betting on the AFL has reached A$900 million, with A$750 million wagered on the NRL. This is forecast to rise to A$1.8 billion (AFL) and A$1.5 billion (NRL) in five years.
Total turnover on sports betting has grown more than 13 percent a year, driven by a 28 percent rise in online sports wagering, the research initiative discovered, noting that this is still significantly smaller than the overall A$20 billion in bets pulled in by racing.
The two Aussie football codes account for around half of all Australian sports betting and some 7 percent of all betting in Australia.
Deloittes says that Australian bookmakers generated an estimated A$81.5 million in revenue from NRL and AFL wagering in 2011, with betting companies contributing about A$45 million a year to football-related products through sponsorship and advertising expenditure. Most of these deals are based on a gross-win model in which a percentage of profit is paid to the code.
There are reports the NRL is considering changing its model to a 1.5 percent take of overall turnover, which Deloitte says will drive down the value of bookies' profits and revenue to the code, and reduce the profitability of NRL wagering products.
In turn, this could persuade betting firms to reduce or reallocate marketing expenditure, or reduce odds offered to the punters.
Sportsbet chief executive Cormac Barry commented that the Deloittes report illustrated how important the industry is in a financial sense to the sport and racing sectors.
Barry warned that if the NRL did change its model, punters would turn away from Australian betting websites in favour of better deals on offshore operations that may not be as well regulated.
“This increases the risk to the integrity of sport and is likely to result in reduced returns to sport from product fees over the long-term. Unregulated foreign sites do not pay product fees, while in the past five years, Sportsbet alone has paid more than A$50 million in product fees," the online gambling executive said.
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
Fair Play Bets and QuickFire in Deal -
Fair Play Bets enjoys an unrivalled reputation for an outstanding player experience, with secure deposits and withdrawals, surprising casino bonuses and committed customer support. Fair Play Bets is licensed in UK, Malta and Curacao.
Cavaliers Aim to Take Down Wizards on 2/22/18 -
The Cleveland Cavaliers have looked like a different team since making their moves at the trade deadline. The Washington Wizards are up next for the Cavaliers, who will be at home after the All-Star break.
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