Australians Lead in Betting and Losing
According to the Victorian Responsible Gambling Foundation, Australians spent about AUS$25 billion in 2017-18, 5% higher than the previous year. This figure is expected to keep going up. A Roy Morgan survey carried out in 2018 found that 47.9% of Australian adults were involved in one form or another of gambling. These gamblers also lead in gambling losses, with 2017 putting them at AUS$1,325 per adult each year.
Australians can engage in bingo, sports betting and lotteries, but not traditional casino games. Relevant authorities in each territory and state regulate these gambling activities. However, gamblers cannot take part in casino games and poker. The fines for breaking these rules are high.
How Australian Investors Can Join the Industry
Now that Australian investors cannot invest in gambling activities at home, there are opportunities for the same out there. First, the most viable option is to invest in offshore gambling activities, such as setting up an offshore casino. Australians in the Northern Territory can get an internet gaming license from the Department of Industry, Tourism and Trade.
However, operators must exclude Australia from the list of countries where they accept players to get the license. They should also exclude designated countries that have requested the government to exclude them from gambling activities. The licensing authority has not created a list of these countries.
There are two ways to join the offshore gambling industry: invest in an existing industry or open your own. Investing in an existing industry can get you started fast as the groundwork is usually done. You also get your returns quickly, especially if the market is good and the investment runs well. However, you may have little control of the operations.
On the other hand, starting an offshore online casino allows you to determine your investment path and enables a hands-on approach. However, it needs substantial investment, research and marketing, and ways to deal with regulators. Check several markets around the world, with a keen interest in regulations, number of operators and overall gambling expenditure.