Online Gambling Booming In Australia
As many offline gambling revenues are closed or running at reduced capacity, Australians are turning to online casinos like Woo Casino to gamble. With many other entertainment options limited more and more Australians are gambling to pass the time.
Online casinos offering slot machines have proved very popular with Australians as these are similar to pokie machines played in live venues.
Australians are turning to online betting sites as they allow them to easily gamble in the comfort of their own homes, and they provide more options than offline venues.
A Record-Breaking Amount Of Australians Are Gambling Online
Online casinos have seen a 65% increase in the amount of gambling by Australian users in 2020 online gambling. Online gambling was one of the fastest growest industries in Australia for 2020. Online gambling benefitted from an additional $1.7 billion in revenue from the increased player activity.
It is estimated that online casinos saw over a 200% increase in the amount of new Australian gamblers using their site.
Australian Love Novelty Bets And Gambling on Esports
To keep up with surging Australian demand, gambling companies are now offering extensive esports and novelty betting markets. Australians have shown a fondness to bet on reality tv shows, the weather, and what songs are going to go number 1. There was even serious action laid on the color of the Prime Minister’s tie at his latest public appearance.
While the amount wagered on novelty bets is still small, betting operators expect it to greatly increase over the years and attract a whole new customer base. Betting companies are hoping to convert these new customers into long-term gamblers and get them interested in their higher-margin offerings.
Gambling operators have noted that there is a high churn rate among novelty bettors, with many disappearing. Still, they believe if they can retain a small percentage of them as long-term customers, then novelty bets are profitable to offer.
Esports is another market that gambling companies are starting to extend after significant demand. Esports betting has only been in existence since 2010 but has skyrocketed. It is estimated that globally over $10 billion is being wagered on esports per year. Australian operators want in on this booming market and have ramped up their offerings in 2020.
In 2021 you can expect Australian gaming companies to be offering more and more esports to gamble on, and you will be able to bet on tournaments hosted all over the world, including local matches.
Gambling companies are particularly bullish on esports markets because of the average age of the bettor being only in their mid-20s. They envision esports gamblers as being long-term customers who could be betting with them for decades. This is in contrast to other traditional sports such as rugby and cricket, where the average gambler is in their 40s.