Australia Online Gambling Industry Size to Surpass US$ 7.2 Billion by 2028, Exhibiting a CAGR of 7.09%

Online gambling refers to the activity of betting on the outcome of various games or events through the internet.

BROOKLYN, NY, USA, October 17, 2023 /EINPresswire.com/ — IMARC Group, a leading market research company, has recently releases 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 Much is the Online Gambling Industry Worth in Australia?

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.

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What is Online Gambling?

Online gambling refers to the activity of betting on the outcome of various games or events through the internet. This virtual platform allows users to engage in traditional forms of gambling such as poker, sports betting, and casino games, among others, from the comfort of their own homes or mobile devices. Characteristics of online gambling include a wide range of betting options, convenience of access, and often, the availability of bonuses or promotions to incentivize play. The platforms usually offer features like secure payment gateways, real-time wagering, and customer support, ensuring a comprehensive and user-friendly experience. Advances in digital technology have also facilitated features like live dealer games, adding to the realism and excitement of the experience.

What are the growth prospects and trends in the online gambling industry in Australia?

The cultural acceptance and popularity of various forms of betting and gaming activities represents one of the key factors driving the market growth of online gambling in Australia. Additionally, advancements in secure payment methods offer a more trusted and streamlined experience, is encouraging more participants, thereby propelling the market growth. Moreover, the industry focuses on responsible gambling, with multiple platforms incorporating measures to prevent addictive behavior, is a major growth inducing factor.

Besides this, many platforms are leveraging algorithms and automated systems to reduce manual errors and streamline operations. This not only enhances the user experience but also cuts down operational costs for service providers which, in turn, is supporting the market growth.

Along with this, easy procurement of online gambling services, facilitated by user-friendly platforms and apps, is contributing to the market growth. Furthermore, public awareness initiatives that educate on the risks and responsibilities of online gambling is creating a positive outlook for the market across the region.

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

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