Foreign companies dominate sports betting in Australia

Giants bookmakers are cashing in on a massive shift to online betting, especially on smartphones, having netted almost 33% of the nation’s USD 29B annual racing and sports.

The companies that currently leverage the australian betting marlet include UK-based William Hill, which bought out Centrebet, Sportingbet and tomwaterhouse.com and Ladbrokes, Bet365, Paddy Power and Unibet. Also the expansion of big multinational licensed corporate bookmakers Down Under comes as punters increasingly migrate from racetrack and bricks-and-mortar betting to modern technology.

Australia’s online betting exploded from 17% of wagering turnover in 2008 to 41pc by 2014. It is expected to nab as much as two-thirds in coming years. “Australians are shifting from traditional avenues, such as retail TABs, on-course bookmakers and pubs and clubs to wagering over the internet via their home computers and mobile devices,” said Australian Wagering Council.

The shift has coincided with a sports betting boom fuelled by mobile apps and aggressive advertising, generating estimated turnover of almost US$6bn in the past year. Monash University public health expert Dr Charles Livingstone said sports betting was growing about 16 per cent annually, with punters now losing about US$750m a year.

“Sports betting is the fastest-growing form of gambling, with at least one in seven Australians now taking part,” remarked Sally Gainsbury, Southern Cross University researcher. “It is the only form for which participation rates have increased during the last decade.