The Australian casino and gambling industry has grown at an alarming rate in recent years. Dubbed as a “gamblers paradise,” the Australian Casino industry has recorded significant gambling statistics in the last few years. As per the latest estimates, about 3/4th of the Australian population indulges in casino gaming yearly.
This regular occurrence is quite alarming, especially considering that, by and large, gambling and betting remain illegal in the country. The emergence of online casinos has only added to the intrigue, and their accessibility on every mobile device has introduced more people to casino games and gambling than ever before.
The estimates cover gambling activities on online casino games like online slots as well as the annual footfall in physical casino establishments. Another reason for the massive growth of the industry can be attributed to the economic benefits it creates for the country. Let’s look at the Australian Casino Industry in detail.
Presence of the Australian Casino Industry
The Australian Casino Industry thrives in two main formats: Online Casinos and Physical Establishments. While the physical establishments are more traditional casinos and have been in existence for a long time, online casinos are relatively new but flourishing throughout the continent.
There are various factors that can be attributed to the popularity both these modes of gambling are attaining. Click here to find out more:
- Immersive experience: While Physical casinos inherently provide an excellent experience, unlike others, Online casinos have also come a long way in making virtual gaming immersive. The introduction of various themes makes the games feel more like you are in a real casino.
Add to that their intricate design and breathtaking graphic details, and you will be transported to another world. The unmatched quality of online games today adds to the hype of casinos. It is today recorded that any new Casino game launched in Australia is bound to make significant profits and become famous.
- Entertainment Choices: Casinos are more than just a place for gambling. While it is their highlight feature, casinos also offer a number of entertainment choices for patrons to enjoy. Dance performances, live music, comedy shows, magic, acrobats, and much more form part of the casino entertainment industry.
As a result of so many choices, people are drawn to casinos with the aspiration of witnessing the glitz and glamor. All these choices also make casinos an excellent spot for a date. Food, Drinks, Entertainment, gambling, and a great occasion to dress up and pamper yourself; who wouldn’t want all that?
- Accessibility: Australia is witnessing an increase in the number of online casinos as well as physical casino establishments. This is all a result of the rising demand for gambling services and the existing fastest payout casino establishments online.
As more people gain an interest in gambling, there is always a demand for upgrades in established games or casinos. There is also an increased demand for the establishment or creation of new casinos and online casino games which are easily accessible.
Benefits of the Australian Casino Industry
The Australian Casino Industry is providing a ton of benefits to the economy of the country, which is why there is no stop being put to its increasing prevalence. Some of the main benefits include:
- Employment Generation: Every Country needs to constantly work on employment generation to ensure that the citizens can survive, thrive, and flourish. Casinos offer a large number of employment options for the citizens of a country at various levels. Online casinos also provide opportunities for highly qualified game developers and designers.
From staff to managers to casino executives, a number of positions are made available for employment. This translates into more people starting to earn and establish extraordinary lives for themselves and their families. Additionally, casino patrons are also known as good tippers, which again adds to the staff’s earnings.
- Taxes: In terms of taxes, Casinos contribute massively to the economy of a nation. Firstly, Casinos are taxed higher than other businesses due to the nature of the business. This stands true for casinos in every country, including Australia. These higher taxes are used directly for the betterment of the country.
Secondly, by employing a large number of people, casinos also provide a steady and taxable income to many families. Thereby creating more taxpayers. People who would also otherwise rely on the government to help them survive become earning members of society, paying back in the form of taxes.
The Australian Casino Industry is witnessing rapid growth, which is only anticipated to increase in the future. Whether this stays under control or becomes some sort of an epidemic is something to wait and watch out for.
Today’s Australian youth is more involved in gambling than ever before, and while the industry provides benefits, it is a matter of assessing whether the cons weigh out the pros or not.
References
https://www.ibisworld.com/au/industry/casinos/662/
https://www.europeanbusinessreview.com/an-overview-of-the-australian-casino-industry/