The Impact of COVID-19 on the Gambling Sector in Australia
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The gambling industry in Australia has been affected by the COVID-19 pandemic. The land-based casinos and betting venues suffered greatly, but the online gambling sector did remarkably well.
There was a huge increase in the number of players creating online casino accounts and placing real money bets. The launch of many new instant withdrawal casinos made it easy for gamblers to place bets and quickly get their payouts. Land-based casinos in Australia are focusing more on their online platforms. Aussie residents are not legally allowed to access online casinos operating in Australian. The new online platform allowed Australian- based casinos to continue offering services to foreign gambers to generate revenue.
COVID-19 had a positive impact on the gambling industry in Australia. Online sites developed new bonus offers to attract new players. Some websites offered welcome bonuses, while others tripled the amount they were offering when promotions were redeemed. There was also an increase in new member no deposit bonuses being offered.
Gambling addiction numbers in Australia are on the rise. People were betting more online during the pandemic. In Queensland, $2.8 billion was lost playing poker machines in the past year. The number of people developing gambling addictions is on rise in this country. The government is trying to prevent it. It is estimated that the number will reach 10 million by the end of 2020. There are more than 50% more gambling addicts in 2020 than in 2019.
The pandemic has had negative and positive effects on Australia's economy. The gambling sector has survived despite the shutdowns and loss of business. The impact of COVID-19 on the Gambling Sector in Australia.
