Australia Online Gambling Market is Booming and Predicted to Hit US$ 8.5 Billion by 2032
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BROOKLYN, NY, USA, May 10, 2024 /EINPresswire.com/ -- IMARC Group, a leading market research company, has recently released a report titled “Australia Online Gambling Market Report by Game Type (Sports Betting, Casino, and Others), Device (Desktop, Mobile, and Others), and Region 2024-2032.” 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$ 4.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 8.5 Billion by 2032, exhibiting a growth rate (CAGR) of 6.2% during 2024-2032.
Australia Online Gambling Market
The Australia online gambling market is witnessing significant growth, driven by the increasing utilization of the internet and the widespread use of smartphones. Additionally, the accessibility of online platforms allows users to gamble from anywhere at any time, contributing to the expansion of the market. Moreover, the market is also influenced by the variety of gaming options available online, including sports betting, casino games, poker, etc., catering to diverse preferences. Besides this, regulatory changes and advancements in digital payment technologies, which provide secure and efficient transactions, are further augmenting the growth of the market.
Emerging trends in the Australia online gambling market include technological advancement like artificial intelligence (AI) and blockchain to enhance user experience and ensure fairness and transparency in gambling activities. In addition to this, AI is being used to personalize gaming experiences and improve customer service, while blockchain technology offers increased security, which is acting as another growth-inducing factor. Furthermore, the growing focus on responsible gambling practices, as online platforms implementing measures to promote safe gambling, including self-exclusion tools and limits on deposits, is bolstering the market growth. Apart from this, the introduction of virtual reality (VR) casinos and the increasing popularity of esports betting are innovating new and immersive ways to gamble online, which is expected to stimulate the Australia online gambling market in the coming years.
Australia Online Gambling Market Segmentation:
Breakup by Game Type:
•Sports BettingoFootballoHorse RacingoE-SportsoOthers•CasinooLive CasinooBaccaratoBlackjackoPokeroSlotsoOthers
•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 (2018-2023)•Market Outlook (2024-2028)•Market Trends•Market Drivers and Success Factors•Impact of COVID-19•Value Chain Analysis
•Comprehensive mapping of the competitive
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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