The AMCA reports that in 2022, one in ten Australians placed a wager or a bet in an online casino or bookie. This makes it one of the largest gambling markets per population, contributing revenue to the economy worth billions of dollars annually.
There is an increased number of gamblers who play pokies, and most of these machines are located in economically challenged communities. Online platforms have capitalized on gambler preferences resulting in a dynamically increasing market.
The Current State of Gambling in Australia
Though gambling activities are taxed, this has not dismayed punters from making their bets on their favorite games. Instead, virtual convenience has seen the online gambling Australia market increase as operators within these markets, be it bookies or casinos, are continually being reviewed to allow better transparency for players.
Reforms have attempted to make this market healthier with assistance being provided to those most in need of intervention. These have had to support of financial institutions who have helped with limiting and restricting credit card facilities to those with gambling issues. Technologies in place are also being implemented to verify and ensure gamblers are of legal age and account ownership is verified.
Gambling Preferences
The preferred gambling in Australia is horseracing and the pokies. Pokie machines are the most available and fast-growing betting preference.
Technologies that ensure that gamblers are not taken advantage of are in place. Online gambling operators are being scrutinized for their online casino practices. Regulators see to it that they make use of the latest technologies available to ensure player online security and safety.
Practices also include self-exclusion practices from sites for those who need assistance with problematic gambling activities. More and more regulators are imposing fines and penalties against operators who fail to conform or abide by regulatory changes aimed at protecting gamblers.
Key Factors To Be Influenced
Primary players are the gamblers, the operators, and the legislators or regulators. With a high number of players in the market, operators operate with licenses that are provided within the country’s numerous territories. Regulators are territory based and as such regulation policies are commonly territory biased.
Land-based gambling operators are easily accessible for gamblers in hotels, casinos, pubs, and betting outlets. There is an explosion of online platforms which are available to gamblers and players have received these online platforms very favourably. This pattern has seen regulators work more diligently towards safeguarding gamblers from harm using numerous available means.
Payment Systems
A popular means of funding a player’s account and bolstering the bankroll has been the use of credit cards. However, a rise in cryptocurrency casinos sees the use of blockchain technologies to ensure safe and secure transaction methods. These technologies ensure transaction transparency and the player the ability to keep records of their transaction.
Financial e-wallets, particularly as online gaming is accessible through mobile devices, are also a preference for gamblers. They can offer the player anonymity while playing their preferred games, also offering safe and secure financial transacting.
Gambling Tech to Be Incorporated
Numerous technologies can be incorporated to the benefit of the player.
Return to player or RTP, for pokie lovers, allows the pokie player to select games that allow them to gain higher returns with every spin. With more players opting for this selection, pokie players will stand a better chance of bleeding out hard-earned cash on pokies which will provide little to no returns.
With the combined uses of blockchain, virtual or augmented reality, and excellent graphics, the gaming experience is set to see more changes influenced by technology. The gaming experience is engaging, yet provides secure and safe transacting methods.
Customer Service
Customer care is a pivotal cornerstone in any business operation. The service allows not only the resolving of client queries but also a means to improve on the brand and also enables operators to gain an understanding of their clients as well.
The AI use ensures that clients receive around-the-clock assistance allowing for a swift resolution to their queries. The information collected from various queries can be analyzed and formulate algorithms that can be used to improve common complaints before they happen.
Chatbots can also provide valuable reminders of new games, tournaments, and healthy gambling habits to clients.
Is the Australian Gambling Industry Infallible to Changes?
Australian lawmakers have made recommendations that they hope to curb the negative impact of problematic and addictive gambling behaviour. These unfortunately have met with resistance from lobby groups who have the most to benefit from the industry.
KYC or know your customer is a process used by businesses and casinos to assess the viability of players to fund their gameplay. This is used to identify problem gamblers and provide them with assistance. Along with software like Gamban which help player self-exclude from all gambling platforms.
Although there is some resistance, technologies in place are available for players to aid themselves and seek assistance from harmful gambling behaviours.
Conclusion
With the aid of technology like KYC, blockchain, and RTP operators can understand and meet their client needs better, give their clients security and protection, and provide them with games that are not just designed to favour the house. Along with Gamban software to self-exclude from gambling platforms.
Australian gamblers enjoy gambling, but it’s encouraging to see that legislators play more of a role in protecting gamblers from the ills of gambling.