Why Australia’s Betting Industry Just Gets Bigger
Statistically-speaking, Australia has one of the largest betting industries in the world, with no signs of slowing down. Instead, the industry keeps on growing and growing.
Even though, in the last decade or so, the number of actual gamblers has decreased, the number of times they gamble each year has increased, so despite a decline in players the betting industry is still growing. That said, numbers still show that over 80% of Australian adults take part in some form of gambling, giving Australia the highest rate of gambling in the world.
There are many reasons why Australia is so set up to support gambling, and the governmental take on gambling is certainly one of them.
A Tax-Free Set-Up
Part of the reason why Australia is so set up to support gambling comes down to the governmental laws that are set up around gambling. In Australia, gambling is not seen as a profession. The betting industry and any other type of gambling activity is seen merely as a hobby or recreational activity.
Any gains received from any sort of gambling activity, then, is not seen as an income in the eyes of the law, but merely as a stroke of good luck. Therefore, any winnings made from any sort of gambling activity are tax-free.
This plays an enormous factor in why Australians would want to engage in gambling activity. It gives them a good opportunity to play for more money and not worry about heavy taxations. Regardless of whether players are heavy gamblers betting on millions or the average weekend player just trying his luck, the winnings will not be taxed.
This Breeds Competition
Given the initial incentive to want to start playing and betting in the first place, there is a tremendous number of players available. This leads to many casinos or gambling establishments being set up, which, in turn, forces them to remain competitive and offer great deals.
Australians can not only choose to play at local land-based casinos, but they can also play at online casino platforms hosted both within Australia and the world over. This gives them an enormous range of games and playing activities to choose from and, since these remain so competitive, they benefit from some great bonuses and attractive offers.
This, in turn, attracts even more players to join the betting industry, creating a perpetually growing market.
Given the initial two factors, there is a great pool of players in Australia. The more people play, the more is available to be won. This, in turn, creates another reason why the industry is getting bigger and bigger. As more people begin playing, the more is made available in terms of progressive jackpots or prize money with regards to sporting events. As these prizes are so attractive, this, again, attracts even more players to join the industry.
Given the perpetual cycle of making the industry more and more exciting, more and more players are enticed to join the Australian betting industry.