May 24, 2022
Australian sports betting

Australian Sports Betting Sites’ History

Since 1810, barely 40 years after James Cook made the first arrival with a British crew, sports betting has been a popular hobby in Australia. The first forms of gambling were heavily influenced by British culture, and featured, among others, horse racing. The earliest recorded organized gambling event occurred in 1810 when a horse race was held in Hyde Park.

By the late nineteenth century, horse racing had grown in popularity, with tracks in nearly every large town. Greyhound and harness racing, to a lesser extent, had developed into popular forms of sports betting, albeit never nearly as popular as horse racing. Sports betting grew in popularity over time, primarily facilitated by local bookmakers. These bookies would accept and place wagers on behalf of their punters, as well as pay-out winnings and losses. 

By 1890, the first Australian sports betting terminal had been installed at the races, resulting in a significant increase in track attendance and interest in important horse events for betting purposes, such as the Melbourne Cup. 

Let’s learn more about Australian sports betting sites in this article.

 

Australia’s Largest Bookmakers

Among the largest bookmakers in Australia are Sportsbet, William Hill, and Unibet. Sportsbet was Australia’s first legal bookmaker when it opened in 1993.

When Australia was founded, Australians could wager exclusively on horse or greyhound racing. Nonetheless, one may wager on virtually any sport nowadays.

Moreover, various betting options’ availability also increased greatly. William Hill, too, offers numerous benefits, including a free bet bonus and incentives. Unibet is also the largest and most popular bookmaker in Australia and a number of other countries.

It is an important regulation that Australian bookmakers are not allowed to offer sign-up bonus bets. There are, however, numerous Australian sports betting sites where everything is meticulously designed and optimized, from the specialized mobile applications to the top-tier security, diverse payment, and withdrawal choices, commitment to ethical gambling, and 24/7, skilled customer service department.

 

Why do Australians Enjoy Gambling?

Australia is the world’s leading betting destination. However, what is the reason for this? Several statistics indicate the significance of betting in Australia.

Australian Gaming Statistics (AGS) provides data on all forms of legal gambling in Australia. It is collected annually by the Queensland Government Office in collaboration with all Australian states and territories.

Last year, Australians wagered a total of 204 billion dollars. In Australia, the gambling industry generated approximately 22 billion dollars in profit, implying a sizable profit margin for bookmakers and casinos.

 

Restrictions on Age

In Australia, all participants in online betting games must be at least 18 years old. The legal gambling age is consistent throughout the country. 6.8 million Australians are estimated to be regular gamblers.

According to the Australian Gambling Research Centre (AGRC), this group exhibits specific sociodemographic characteristics. Males aged 50 and older account for a disproportionate share of Australian gamblers.

 

Gambling Addiction

When it is about gambling activities, the data presented above show the world’s greatest ratio. While this may not apply to all Australians, over 40% of Australian gamblers are regarded to have major addiction issues.

According to one of Australia’s foremost gambling researchers, compulsive gamblers have a negative effect on their friends and family. Gamblers with issues were overrepresented among unemployed, single, and low-income men aged 19 to 29.

 

Legislation, Rules, and Regulations

Profits from online sports betting are not taxed in Australia, which adds to the country’s allure as a gambling destination. The Australian government does not consider gambling profits to be income, but rather as a result of chance.

Gambling is regarded as a recreational activity rather than a job. Although Australian gamblers are not compelled to pay tax on their earnings, gambling providers such as internet bookmakers are. Australia’s taxation structure differs per state.

 

Conclusion

Although sports betting was outlawed in Australia until 1980, Australians continued to wager. Previously, visitors to horse racing events gambled illegally.

However, the sports betting business in Australia is now regarded as one of the fastest-growing in the world. Nowadays, an increasing number of Australian gamblers prefer betting types that involve skill and experience, most notably sports betting.

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