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Demand for online gambling in Australia is slowing growth in racing and sports betting
Monday November 10,2014 PREFERENCE FOR ONLINE GAMBLING IMPACTS AUSTRALIAN INDUSTRY
New study shows that demand for online gambling in Australia is slowing growth in racing and sports betting.
A new study of the Australian gambling market by IBISWorld shows that online gambling may be impacting the growth rate of traditional betting on sports and racing.
Revenue growth in Australia’s horse and retail sports betting industry in the five years through to 2014-2015 has been at a compound average annual rate of 2 percent, reaching $3.6 billion, indicating that growth in these sectors is slowing.
The study attributes some of that slowdown to the growing popularity of online casino gambling and electronic gaming machines, which have been claiming more of the punter's discretionary incomes, IBIS notes.
That said, sports betting may be relatively small, but it remains the fastest growing vertical in the Australian industry.
IBISWorld analyst Spencer Little said in a statement reporting on the new study that the growth in sports betting has been at the expense of on-course totalisators at horse races.
“Consolidation has also occurred over the past five years, as several larger companies have increased revenue and market share concentration through the acquisition of smaller betting firms,” he said.
Little opined that the Australian industry will continue to grow over the next five years, but he predicted that traditional TAB outlets are likely to encounter significant competition as a result of the popularity, accessibility and user-friendliness of online and smartphone betting services.
He said that he expected revenue generated from wagers placed on horse and harness races would also continue to sink as betting on sporting matches gains further ground and is heavily promoted.
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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