According to the data provided by the credit firm Illion and analytics consultancy AlphaBeta, online gambling for Australians has increased by 67% during the last few months.
Based on the transactions of 250,000 consumers in Australia, the networked gambling industry has been one of the biggest winners of the 1st quarter of 2020, alongside several food deliveries and online retail services.
Online Gaming Traffic Grows in Australia
Facilities with electronic pokie machines have been closed due to the recent measures that have been in effect worldwide. While land-based gaming has been affected, the networked industry has experienced a different scenario.
The increased use of mobile phones and other smart devices and the heightened activity on the Internet, along with the recently relaxed regulations for betting and gaming, has influenced the networked gambling industry’s growth.
Gambling on the Internet has been a newer leisure activity for most, especially when compared to land-based gaming. Recently, this industry on the Internet has exhibited constant growth even during this rapidly changing and dynamic business environment.
The global gambling market is expected to pass revenues of $525 billion by 2023, with expected growth at a CAGR of 4%. This has mostly been driven by the increasing use and infiltration of online gaming and betting.
The state of online gaming in Australia
In its history, Australia has always been open to the gambling world. The country has over 20% of the world’s gaming machines, and there are almost 200,000 slot machines in Australia (with 100,308 of these can be found in New Wales). There are many different types of gaming that have remained popular with Australians, while the market has continued to grow.
The Australian government passed a law called The Interactive Gambling Act in 2001 that made it illegal for online casinos or any gaming sites to conduct their business and offer their services in Australia. The law was passed to protect Australian citizens from detrimental and harmful effects of the world of networked betting.
If any gambling operator, Australian or foreign-owned, offers online interactive gaming to any resident of Australia, it will be considered offensive. It is also illegal for networked betting operators to promote and advertise any interactive gambling services to Australia’s citizens. Companies that are based in Australia can offer gambling services to people outside Australia. It makes it possible that Australians can use overseas sites.
Although online betting services cannot be offered in Australia, citizens are not prohibited from accessing and using any interactive gambling service. It means that players can play Australia top-rated real money pokies on https://pokieslab.net/ from the comfort of their homes. On such platforms, there are always additional offers such as free spins, sign-up bonuses, no deposit bonuses, etc. Generally, customers are entirely free to choose any website to play online pokies, whether it is Australian or foreign.
As for taxes in this field, Australia is one of the best countries for that. There are no tax obligations to players, regardless of their wins or losses. It is a game of luck where winnings achieved in the game are supposed to balance with the losses. Additionally, gaming operators are taxed, so the government has deemed that only these entities should pay taxes, and players do not need to pay anything.
You can withdraw your winnings in AUD. Almost all websites that offer online gambling will allow you to deposit and withdraw your funds in AUD. However, not all of them will let you play in that currency. Larger websites will enable players to choose their preferred currency and view their funds in that currency, so you can see your funds without having to use any conversion.
Be Aware of Fraudulent Activity
The current situation has resulted in increased fraudulent activity, especially within more digital-forward industries like e-commerce, finance, online gambling, and telecommunications. Since people are spending more time in their homes, they have been spending more time on the Internet.
With the increased use of social media, networked tools, e-banking, food delivery apps, online shopping platforms, and other resources on the Internet, it has become easier for fraudsters to increase their activity. There have been increased phishing attacks, deceptive UPI handles, and remote screen mirroring tools.
Although many scams that have happened so far have targeted just individuals, there are growing concerns that fraudsters are starting to target businesses that are more vulnerable to fraudulent schemes.
How To Avoid Scams?
The online betting industry has not been immune to these fraudulent attacks. Security should have the utmost importance when playing pokies on the Internet. So how can you stay safe while you play online pokies? The first and most important thing is to gamble only at licensed and trustworthy websites. Do not use any betting website that you find. Ensure that the website is reliable and licensed and that there are no suspicious things and activities on it.
When you sign up on a website, make sure you read all of the terms and conditions before you agree. If there is any additional software, make sure that you don’t download anything that might put your computer and the data on them in a vulnerable position.
Once you put your financial information on the website, consider the most secure method. It’s best to choose a trustworthy technique that you can count on for help if a fraudulent activity happens. Also, check if your bank has a history of helping victims of financial and identity theft. If you’re not sure that your bank will help you if fraud happens, consider using another method like an e-wallet service.
One more thing you should ensure while entering your payment method is to lock next to the website’s URL. The lock on the browser indicates an SSL encryption that uses public and private keys to create a secure connection through which you can safely put financial information, social security numbers, and any other personal information that needs to be safely handled.
One of the problems I have with websites that offer information about the gambling industry is the paucity of facts. This article however was rich with verifiable information. For instance, the Australian government’s Interactive Gambling Act in 2001 was cited and I checked out its stipulations. They were accurately reproduced (though summarized) by the article. This is truly refreshing.
I have had some concerns about the legality of playing games online, as I am unsure whether it is legal. It is really helpful that you explained it as it dissolves all my worries. Our laws are more accommodating than most countries. I have always ensured that I play only on licensed and accredited platforms, so I have never really broken any law. Thank you for this.
The stats crown Aussies as king of big igaming spenders and unfortunately losers as well Pokies are easily accessible to Aussies but then its also the case of many other Europeans and Asians. I think there’s a special connection between Australians and gambling but I can’t define it. Responsible gambling may help really but is it that effective and easy to implement? Just watch your own back..becos that’s what I do.