The gambling and betting industry in Australia experienced notable fluctuations in output over the past decade, marked by a significant peak in 2015 with a 21.59% year-on-year increase. Between 2016 and 2018, the industry saw moderate growth, but in 2019, there was a steep decline of 15.9%. Recovery was evident from 2020 onwards, with consistent yet modest growth, reaching AUD 10.89 billion in 2023. Over the past five years, the compound annual growth rate (CAGR) was -1.77%, reflecting a slight contraction in overall output.

Future trends to watch for:

Stable forecasted growth from 2024 to 2028 with a CAGR of 0.83% indicating a slow but steady recovery.
Potential regulatory changes impacting gambling and betting practices.
The influence of technological advancements such as online and mobile betting.
Changing consumer habits and economic conditions affecting discretionary spending.