In 2009, Australia finally opened its doors to the betting market once again. It allows the introduction of foreign competitors for domestic bookies and betting industries, and this creates a massive shockwave throughout the whole of the betting world in Australia. Within a short space of time, controversial bookies Paddy Power had got involved with Sportsbet and were quickly in the front door. Ladbrokes bought up BetStar and Gaming Investments, and instantly the market had some genuine foreign competition for the first time.
Today, the market is overwhelmed by foreign investors looking to cash in on the Australians who have a strong love for gaming – especially online. William Hill, for example, picked up three companies within a short space of time, and were shortly followed by Bet365 and their audacious Samuel L Jackson advert. Next on the line was Swedish outfit Unibet, and today you have a market that is overwhelmed by selection and style.
However, the Australian betting boom is no surprise – as the country with the highest annual gambling losses in the world, with around $1,037 per resident of the country. This is a country that loves to bet and take a chance, and you can see that in the way that the market has reacted to being opened up to foreign investment.
With such a country that is always prepared to put its hand in its pocket for a thrill and the potential for big winnings, there can be little surprise that the Australian market has been capitalized on so ruthlessly since it first opened its doors.
With just about every betting company in the country doing well at the moment with the majority running on operating profits, it’s safe to say that the average gaming losses won’t be going down any time soon in Australia! Paddy Power have been arguably the biggest winners, with some massive investments coming from their end of the market to try and make sure they capture it for the foreseeable future.
It looks like the future of gaming in Australia is only going to grow.