The value added of gambling and betting in Australia has shown consistent growth over the past decade. From 2013 to 2023, the market expanded from AUD 2.74 billion to AUD 5.22 billion, marking significant increases, particularly between 2014 and 2015, with a 45.93% year-on-year growth. Despite a slight decline in 2016, the overall upward trend resumed, with moderate growth rates. By 2023, the market stood at AUD 5.22 billion, representing a year-on-year increase of 3.51% and an average annual growth (CAGR) of 3.57% over the past five years.
Future trends to watch:
- Projected steady growth at a CAGR of 2.27% from 2024 to 2028.
- Increasing influence of online and mobile betting platforms.
- Potential regulatory changes and their impacts on market dynamics.
- Shifts in consumer behavior towards more responsible gambling practices.
