Betting in Australia
Casino and bookmaker businesses hold a prestigious reputation within Australian culture; in fact, it has been claimed that the country has one of the largest betting industries in the world. As a result of the countries’ gambling obsession, the amount wagered and the cost of the gambling industry as a whole is beginning to worry members of the government and other authorities. Roughly 80% of punters who often place bets in Australia include their gambling costs as part of their weekly budget. As of 2007, the country holds the world record for the largest amount of bettors in comparison to the population.
Analysts have questioned why gambling has become so popular in Australia compared to other nations. The fact that Australia has such an impressive games and sports industry possibly explains why gambling resonates so strongly throughout the country.
In Australia, the number of betting companies available is on par with that of the UK, and many overseas betting businesses are also accessed by Aussie punters.
The Australian public’s love of sport is reflected in their betting habits, with Rugby League and Union events featuring highly on the list of most wagered markets.
However, it is the word famous Melbourne Cup horse race that trumps them all. The Australians call it “the race that stops the nation” and every year the Grade One Handicap horse race located at Flemington Park gains the attention of eager punters worldwide.
Australia’s government approved betting organization, known as the Totalisator Agency Board (TAB), generates a significant amount of business from the Melbourne Cup alone.
In the 1990s, the popularity of casinos increased significantly and this trend has continued as the gaming industry has improved and new establishments have been opened. In Sydney, Star City is a mega complex which now attracts gamblers from all over the world.
The Australasian Gaming Council (AGC) is the main authority over the countries’ gambling industry. The AGC encourages sensible gambling and conducts excellent gambling analysis. The organisation will certainly be prominent within the political world during discussions and debate about the future of gambling.
The apprehension about the state of gambling in Australia may or may not be exaggerated, but politicians in the country have expressed their intentions to possibly cap the withdrawal limit from ATM machines in bookie shops, and even to set a maximum wager amount per person. There is no doubt that Australian economy has been boosted by it the countries’ love affair with gambling, but the overall cost in social terms could take much longer to confirm.
