Australia Online Gambling Market Size To Hit US$ 7.2 Billion by 2028
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According to IMARC Group's latest report, titled Australia Online Gambling Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028. The study provides a detailed analysis of the industry, including the Australia online gambling market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the Australia online gambling market ?
The Australia online gambling market size reached US$ 4.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 7.2 Billion by 2028, exhibiting a growth rate (CAGR) of 7.09% during 2023-2028.
What are Online gambling?
Online gambling or electronic gambling represents the system of placing bets with the help of a betting shop, bookie, or other gambling enterprises over the internet. They can be categorized into sports betting, casino, and other types. Online gambling systems provide multiple advantages, as compared to conventional gambling, such as convenience, global access, free games, bonuses, loyalty points, and several payment options. They can be easily accessed through desktops, mobile, laptops, and other devices. Consequently, online gambling platforms are extensively preferred across Australia.
What are the growth prospects and trends in the Australia online gambling industry?
The increasing legalization and cultural approval of online betting are among the key factors driving the Australia online gambling market. In addition to this, the growing number of high-profile sponsorships secured by online sports companies from various football and racing clubs is acting as another significant growth-inducing factor. Apart from this, the launch of innovative online gambling applications that can be easily accessed on smartphones and tablets and the introduction of new forms of gambling, including lottery terminals, keno, instant scratch tickets, etc., have gained popularity among the younger generation who do not have access to casinos and bars is further stimulating the market across the country. Moreover, the development of technologically advanced virtual reality (VR) and blockchain tools that aid in maintaining the transparency of gambling activities and offer an immersive experience to the player is also positively influencing the Australian market. Besides this, the expanding urbanization, the escalating penetration of high-speed internet connectivity, and the elevating adoption of bitcoin gambling are expected to fuel the Australia online gambling market in the coming years.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Game Type:
- Sports Betting
- Casino
- Others
Breakup by Device:
- Desktop
- Mobile
- Others
Breakup by Region:
- Australia Capital Territory and New South Wales
- Victoria and Tasmania
- Queensland
- Northern Territory & Southern Australia
- Western Australia
Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Industry Trends
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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