Australia Online Gambling Market Size is Projected to Reach US$ 7.2 Billion by 2028, Industry CAGR 7.09%

Online gambling is the practice of placing, receiving, or transmitting a wager or bet over the internet using e-banking accounts to facilitate transactions.

BROOKLYN, NY, USA, February 22, 2023 /EINPresswire.com/ -- According to IMARC Group’s latest report, titled "Australia Online Gambling Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.' 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 2023-2028Year considered to estimate the market size: •Base year of the analysis: 2022•Historical period: 2017-2022•Forecast period: 2023-2028Online gambling is the practice of placing, receiving, accepting, or transmitting a wager or bet over the internet using e-banking accounts to facilitate transactions. It includes online poker, sports betting, and games of chance, such as horse racing, roulette, bingo, blackjack, and lotteries, as standard games. Unlike traditional casinos, online gambling sessions are moderated by a computer program, eliminating the need for physical interaction. Online gambling casinos offer players multiple benefits, such as gift vouchers, insurance bonuses, compensatory points, diverse payment methods, loyalty points, and numerous gaming options with secure accessibility. Players can access these online games through software, applications, or websites from their homes.Australia Online Gambling Market Trends:The online gambling market in Australia is experiencing significant growth, primarily driven by inflating disposable incomes and the growing penetration of smartphones. In line with this, key market players are launching online gambling applications that are easily accessible via tablets or mobile devices, which is providing an impetus to the market growth. Additionally, the recent COVID-19 pandemic and mandatory lockdown restrictions expanded the consumer’s inclination toward online gaming as an entertainment medium, which, in turn, is accelerating the market growth. Moreover, the rising penetration of the internet and the adoption of advanced technologies, such as virtual reality (VR), three-dimensional (3D) animation, and blockchain, are contributing to the market growth in the country.  Australia Online Gambling Market 2023-2028 Competitive Analysis and Segmentation:Competitive Landscape With Key Players:The competitive landscape of the Australia online gambling market has been studied in the report with the detailed profiles of the key players operating in the market.Key Market Segmentation:The report has segmented the Australia online gambling market on the basis of game type, device and region.Breakup by Game Type:•Sports Betting•Casino•OthersBreakup by Device:•Desktop•Mobile•OthersBreakup by Region:•Australia Capital Territory and New South Wales•Victoria and Tasmania•Queensland•Northern Territory & Southern Australia•Western AustraliaKey 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 landscapeIf 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.Other Trending Reports:

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