Facts About Sports Betting In Australia

Sports betting is called earning a profit by predicting the outcome of competitive events. The activity can be carried out in a casino, online casino, or sportsbook https://rocketplay-australia.bet.

Casinos offer spot betting, while online sportsbooks offer live betting. When betting online, you can access historical records from offline books. Online wagering can be fun or serious, depending on the participant.

Betting Options at an Australian Sportsbook

Players can bet on the outcome of a match or race and other propositions associated with a competition, such as player performance as a number of goals scored by casinos, OTB locations, and sportsbooks in every state. The gambling industry contributes more than $10 billion annually to sporting organizations in Australia. Online wagering has also become popular, with the Australian Gaming and Liquor Authority reporting that 34% of all gaming revenue comes from the internet.

Types of Sports Betting In Australia

Four types of sports betting can be done in Australia. These are:

  • Result betting : Players guess the winner or outcome of a specific match or race. Examples include football football betting, horse racing betting, and cricket betting.
  • Option betting : Players guess whether a specific outcome will or won't happen during a competition. Examples include NBA Over/Under betting, AFL Over/Under betting, and racing fill-in-the-blank betting.
  • Futures betting : Players guess whether a team or player will achieve a goal at a specific point in the future. Examples include AFL futures, football futures, and tennis futures.
  • Exotic betting : This is any type of wager other than the three mentioned above  that is not considered to be a traditional sport bet. These types of wagers are created by the bookmaker. Examples include skateboard betting and arm wrestling betting.

History of Sports Betting In Australia

Betting on sports has been around in Australia since the 1800s. The first recorded race meeting occurred in 1810 at Hopskie near Richmond, New South Wales. In the early 20th century, race tracks were established all over Australia. In 1928, the state  of New South Wales outlawed betting on sports. This led to the growth of underground bookmakers, which became a major influence in Australian culture. During the 1950s and 1960s, television became widely available and added a new element to sports betting in Australia. The first race track to broadcast live races was Wentworth Park in New South Wales. In the 1970s, state governments took over racing facilities' management and imposed heavy gambling taxes. The increase in taxes made horse racing less accessible to the public, and attendance and race attendance began to decline. In the 1980s, state governments began to liberalise gambling legislation. This led to a revitalisation of racetrack attendance. The first modern casino was introduced in Hobart, Tasmania, in 1981. By 1994, every state had introduced casinos into their communities. With the introduction of casinos, sports betting became even more popular in Australia.