Australia's gambling saga stretches right back to colonial times, yet it wasn't until 1973 that Tasmania hosted the nation's first regulated casino. Since, gambling has bloomed with raffles, casinos, poker machines, and sports wagering gaining popularity. Nowadays, online bookmakers have joined the fray, offering virtual betting opportunities.
In-Depth on Horse Racing and Lotto: Australia's Enduring Traditions
It’s impossible to talk about Australia’s betting history without spotlighting horse racing's pivotal role in the national pastime. Wagering has brought excitement to Sydney’s Hyde Park since at least 1810.
The Melbourne Cup, managed by the Victorian Turf Club since 1861, captivates the nation every spring in November with thoroughbreds racing for an astronomical prize of over $8 million.
Yet, horse racing isn't the lone survivor of Australian gambling traditions. The 1920s saw official lotteries run by the government, although private draws were already happening from the 1880s. These lotteries have generated substantial revenue for local and state governments, funding various initiatives and projects.
Growth of Casinos and Sports Betting
Starting with Hobart's first casino in 1973, gambling venues proliferated from the country's outskirts to city centers, with establishments in Alice Springs, Darwin, and Launceston. In due course, grand casinos emerged in major cities, and the Crown establishments in Sydney, Melbourne, and Perth became notorious for scandals involving tax evasion, money laundering, and crime.
In 1993, Sportsbet secured its license to become a legitimate bookmaker. Even before that, informal betting on rugby, footy, and various sports was widespread. As more businesses earned coveted licenses for sports betting, punters were spoiled for choice. Their decisions often come down to the attractive promotions, bonuses, and loyalty programs offered by sportsbooks.
History of Online Gambling
In the past twenty years, Australia has experienced an explosion in online betting activity. Despite multiple attempts by the federal government to curtail unlicensed operators, the 2001 Interactive Gaming Act (IGA) was introduced, establishing ground rules for legal online wagering accessible to Australians, evolving steadily with the gambling sector.
The IGA encompasses all forms of internet gambling, inclusive of handheld betting, online casinos, sports betting, lottos, and poker machines. Foreign gambling sites can't target Australian players without obtaining a local license.
The government has further developed a National Consumer Protection Framework to counteract issues like problem gambling and youth betting, imposing limits on advertising, available banking options, and other gambling-related activities, either physically or online, to minimize addiction and significant fiscal losses.
