15 billion dollars Increase in Australian Online Gambling

There has been a reported 67% increase in the revenue generated at the Australian online casinos as customers migrate their gambling activities due to the Coronavirus lockdown. 
 

ONLINE GAMBLING CAUSING UNLAWFUL ACTIVITIES
 

This massive revenue growth in Australian online gambling is also carrying a surge of unregulated services. Authorities are desperately trying to quantify this shift in spending, as unregulated vendors operate outside the normal set of jurisdictions and tax collection boundaries.

According to AlphaBeta and Illion, two companies involved in economic strategy, there has been a massive migration of spending behavior by around 250,000 Australians. The current situation seems to be striking up significant changes in the regular spending behaviour of gambling enthusiasts, as they seek alternatives to land-based casinos, which are now closed due to the pandemic.
 

ONLINE GAMBLING - A HUGE BUSINESS OPPORTUNITY

As most of the business have shifted into the online medium, there has reportedly been a huge $15bn in total revenue siphoned off into offshore operators that are not subject to the same stringent guidelines enforced across Australia.

Not all businesses have been hit hard by the COVID-19 outbreak, as online gambling being one of them.  Not only does it represent a huge business opportunity for companies that have established a high-quality online gambling infrastructure, but also as a psychological study. Is it interesting to determine the enthusiasm for gambling in times of economic difficulty.

FINAL THOUGHTS 
 

Following this pandemic, there may be a need for Australia to revisit its gambling laws, as the current situation has drawn a lot of attention to the country’s lack of a regulated online gambling infrastructure. In countries such as the United Kingdom and Spain, where there are already many licensed online casino operators, the transition has not led to such a dramatic shift, as the revenues are still flowing through licensed tax-paying operators.