Report Reveals Illegal Operators Own a Third of Australia’s Online Gambling Market
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The post Report Reveals Illegal Operators Own a Third of Australia’s Online Gambling Market appeared first on Vegas Slots Online News. A report from H2 Gambling Capital has revealed that illegal offshore online gambling operators are thriving in Australia, with the unregulated vertical twice the size it was in 2019. “One in every five dollars spent
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The post Report Reveals Illegal Operators Own a Third of Australia’s Online Gambling Market appeared first on Vegas Slots Online News. A report from H2 Gambling Capital has revealed that illegal offshore online gambling operators are thriving in Australia, with the unregulated vertical twice the size it was in 2019. “One in every five dollars spent on Australian sport wagering is spent with illegal operators,” it stated. market hit AU$3.9bn in 2024 According to the report commissioned by Responsible Wagering Australia, illegal iGaming now accou
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nts for over one-third of all online gambling activity in the country. The report warns that the illegal online market hit AU$3.9bn ($2.54bn) in 2024 and is in a position to reach AU$5bn ($3.25bn) by 2029. According to Asia Gaming Brief, the major inroads the illegal operators have made into the Australian market are driven by “product bans, weak enforcement,” and the brands’ aggressive marketing tactics. With the black market operators now representing 36% of Australia’s online gambling market, Australian governments and sports entities stand to lo
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e almost AU$2.7bn ($1.76bn) in taxes and product fees over the next five years if the trend to illegal continues. The illegal market poses the biggest threat to the horse racing industry, however, with potential annual losses amounting to as much as AU$135m ($87.8m). H2 Gambling Capital highlighted Australia’s ban on online casino games and in-play wagering as “the single biggest driver of illegal offshore use.” The post Report Reveals Illegal Operators Own a Third of Australia’s Online Gambling Market appeared first on Vegas Slots Online News.
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The post Report Reveals Illegal Operators Own a Third of Australia’s Online Gambling Market appeared first on Vegas Slots Online News. A report from H2 Gambling Capital has revealed that illegal offshore online gambling operators are thriving in Australia, with the unregulated vertical twice the size it was in 2019. “One in every five dollars spent on Australian sport wagering is spent with illegal operators,” it stated. market hit AU$3.9bn in 2024 According to the report commissioned by Responsible Wagering Australia, illegal iGaming now acco
unts for over one-third of all online gambling activity in the country. The report warns that the illegal online market hit AU$3.9bn ($2.54bn) in 2024 and is in a position to reach AU$5bn ($3.25bn) by 2029. According to Asia Gaming Brief, the major inroads the illegal operators have made into the Australian market are driven by “product bans, weak enforcement,” and the brands’ aggressive marketing tactics. With the black market operators now representing 36% of Australia’s online gambling market, Australian governments and sports entities stand to l
se almost AU$2.7bn ($1.76bn) in taxes and product fees over the next five years if the trend to illegal continues. The illegal market poses the biggest threat to the horse racing industry, however, with potential annual losses amounting to as much as AU$135m ($87.8m). H2 Gambling Capital highlighted Australia’s ban on online casino games and in-play wagering as “the single biggest driver of illegal offshore use.” The post Report Reveals Illegal Operators Own a Third of Australia’s Online Gambling Market appeared first on Vegas Slots Online News.