Sunday, June 23, 2024

Growth markets and business strategies for online gambling in Australia

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The online gambling market in Australia reached $4.5 billion in 2022 and is projected to be worth more than $7.2 billion by 2028, presenting lucrative opportunities for operators. Picture Shutterstock

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Online gambling has seen tremendous growth in Australia over the past decade, with more than 30 per cent of adults placing bets via the internet.

With increasing internet and smartphone usage, more Australians are going online to access games.

Popular online gambling activities include sports betting, casino games, poker, bingo and lottery.

The interactive gambling market is regulated by state and federal laws and operators require licensing to offer services to Australians.

The Online Gambling Market in Australia

The online gambling market in Australia reached $4.5 billion in 2022 and is projected to be worth more than $7.2 billion by 2028, presenting lucrative opportunities for operators.

However, the market is also highly competitive and strictly regulated.

Companies need smart business strategies to capture market share while remaining compliant.

Compliance

Compliance is paramount in the strictly regulated Australian market.

Operators must adhere to interactive gambling laws, acquire proper licensing, implement identity verification protocols, and integrate problem gambling protections.

Strategies like voluntary deposit limits, self-exclusion options, and active monitoring can show an operator’s commitment to responsible conduct.

Every online gaming business in Australia is subject to the Anti-Money Laundering and Counter-Terrorist Financing Act 2006, which means customers must pass a verification process before they can access the site.

Online gambling businesses that don’t adhere to Know Your Customer checks face being investigated by AUSTRAC.

Mobile Gambling

One of the biggest growth opportunities is mobile gambling.

More than 87 per cent of Australians own a smartphone, and mobile devices account for over half of all online betting activity.

Operators should optimise their platforms and apps for seamless mobile access.

Features like one-click payments, Touch ID logins, and notifications can enhance the mobile user experience.

Developing Android and iOS apps and incorporating progressive web app (PWA) functionality can also expand an operator’s mobile reach.

Social Gaming

Another strategy is targeting recreational players through social gaming and free-to-play options.

Social casino products blend gaming and social media, allowing players to enjoy slots, poker, and other games with friends for free while purchasing virtual credits.

Free-to-play games incentivise players to transition to real money gambling once they are comfortable.

They provide a legal avenue for operators to engage players of all levels.

Create Customised Promotions

Using data analytics to create customised promotions and bonuses, like these exclusive Australian bonus bet offers, is equally important.

Australian players respond well to targeted offers tailored to their activity and preferences.

Tools like CRM platforms, behavioural monitoring, and transaction tracking provide insights to craft compelling deals and boost engagement.

Referral programs, VIP rewards, and loyalty schemes also help retain high-value players.

Work with Media Outlets and Influencers

Partnering with media outlets, sports teams, and influencers gives brands more visibility and trust with Australian audiences.

These affiliations can raise brand awareness and position operators as leading gambling destinations.

However, partnerships must align with responsible gambling messaging to avoid promotion criticisms.

The online gambling landscape in Australia has abundant possibilities but also steep challenges.

Companies that focus on mobile optimisation, recreational gamblers, data-driven marketing, strategic partnerships, and diligent compliance will gain an edge.

A smart, nuanced strategy can help operators successfully expand their presence in this high-growth market.

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