With major breakthrough in the development of the internet in 90s and its unprecedented prevalence with the commencement of the new millennium, digital or online substitutes of everyday things started to come to the fore. From marketing to gambling, every activity has developed its digital facet.
In spite of the widespread adaptation with the technology, online gambling is still not a mainstream industry in the country. Even though there are quarters claiming that Australian online gambling industry is overcrowded, but that’s not the case at all. We will try to articulate our argument through multiple points.
Online gambling is still undersized as compared to the brick and mortar industry
Although online gambling is gradually expanding its reach and size, its collective market capitalization is still nothing in comparison with the brick and mortar betting establishments. According to a report, Australia has more slot machines per capita than any other country in the world with more than 200,000 machines in total. Furthermore, the country has around 20 percent of the whole world’s pokies (poker machines).
These numbers clearly show that the brick and mortar gambling sector is very well-developed and there is lot of room for digital and online gambling industry to replace it. Therefore, the discernment that online medium is already crowded with gambling platforms has no credence whatsoever.
Gambling restrictions have hampered the growth of the online gambling industry
Live online sports betting are a regular gambling activity all across the word. However, live online bets are not allowed in Australia, hampering the growth of the online gambling industry.
Things only get worse for Australia-based online gaming ventures because they are not allowed to offer and advertise live bets. However, punters are not accountable by any law to remain abstain from placing live bets. Thus, they can place their wagers through international bookmakers.
By this provision of the federal authorities, only country’s online gambling sector continues to suffer. In the existence of Interactive Gambling Act, it is ignorant to say that online gambling sector has reached beyond its capacity.
Online gambling ventures are still budding
In an overcrowded business environment, it becomes nearly impossible for a new venture to get its footing. However, the opposite is happening in the online gambling sector. For instance, Bluebet is a thriving online gambling platform that was only launched two and a half years ago and continues to grow and supported by third party reviews such as https://www.punters.com.au/betting/bluebet/. It shows that there is still a lot of potential and room available for online gambling ventures to foray into the industry.
Even though online gambling serves as a second fiddle to the established betting industry, but the time is not far away when the former will move past the later. There are certain factors which are helping and will help online gambling to flourish:
- Younger generation is more accustomed with technology
- Online bets can be placed from the convenience of your home whenever you want
- They are more secure to play because you are not moving from one physical location to another with hard cash
So, it is immature to say that online gambling industry has already been overcrowded when it’s actually beaming with new opportunities.