If there is a country with real passion for gambling activities, it must be Australia. More than 60% of the local population has tried betting at least once in their life. Their love of gambling can be seen in the final amounts of cash spent on bets every year. Despite all the restrictions, Australian investors are trying to enter the iGaming sector. Due to the recent events in the world, they seem to realize the bright prospects coming up with live online casinos in Australia. Does it make any sense?
While Australia is considered to be the top force in the land-based gambling activities, the online sector remains mainly closed in the country. In fact, the rate of gambling involvement in the country remains one of the highest worldwide.
Australian law is quite strict towards online betting activities. Even though Australian players have access to most gambling activities, they are not allowed to mess with online gambling. Well, it doesn’t mean Australian investors don’t look in the direction of the iGaming sector. The Australian market has turned into a great environment for the involvement of offshore casinos and sports betting companies. At OnlineCasinoAussie.com, you can find a lot of live online casinos in Australia.
According to the reports published by the Victorian Responsible Gambling Foundation, total gambling costs across Australia reached as high as AUS$25 billion in 2019, which is 5% more than in previous years. The betting costs increased during the pandemic as people had to stay at home most of the time. Eventually, almost 48% of Australian adults became involved in gambling every day. Interestingly, Australians also manage to take the leading position in the number of losses in online casinos – AUS$1325 per person every year.
The Australian market is considered to be well-regulated at different levels. Most policies are estimated by the local gambling regulators at the state level. Meanwhile, the major gambling document in the country is the Interactive Gambling Act 2001 that actually prohibits companies and individuals from providing online gambling services to AU citizens. The only exception has been made for lotteries, bingo, and sportsbooks.
Investing in offshore gambling that approaches other markets is quite a viable option. Licenses are received from the Department of Industry, Tourism, and Trade. Independent gambling commissions are less authoritative in the international gaming sector. All applicants have to meet a range of requirements pertaining to reputation and business ability. To remain eligible, operators must ensure they keep their doors closed to Aussies.
How can investors get into the Australian gambling sector? The major thing that Australian investors have to remember is that they are not allowed to approach Australian players. Even an online casino licensed by the authoritative gambling regular is considered to be illegal in Australia.
Through sufficient investment, live online casinos in Australia can survive the market competition standing next to other offshore gambling sites. For a more efficient approach, investors can develop their own online platforms. There are a lot of well-developed and developing markets around the world that provide good opportunities for various gambling businesses. At OnlineCasinoAussie, you can find the best online casinos in Australia that are available for Aussies. Make sure to try some of them. Although they are illegal in the country, they are not scams, to say the least.