New information from the Australian Bureau of Statistics shows that a record level of Australia gambling had taken place over the 12 months through to September 30.
In Australia gambling news, a record amount of $24.1 billion was spent on gambling, or $1,000 for every person in the country. The market’s performance in the past year has been above the average 3% annual growth of the last decade, moving up to 6.1%.
Interestingly, while more money is being spent on gambling, there are less people doing so. Says Australian Gambling Research Centre manager Anna Thomas of the phenomenon: “We’ve seen a drop in participation in gambling on a per-capita basis, but the expenditure on gambling hasn’t dropping. What we are seeing is a smaller group of people gambling more heavily.”
Australia gambling billionaire Len Ainsworth, chairman of Ainsworth Game Technology, says that these are “natural” levels of growth. He explains: “There’s a very simple answer: over the last 62 years that I’ve been in the business each year, every year the amount of money that goes into gambling is directly related to the state of the economy. If the economy goes up 5%, you can bet the amount gambled will go up by that or even more.”
The news of the market boost comes at a shaky time, as the Australian government is currently considering new laws that would change the status of in-play online sports betting.