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Australian Gambling Market Hits Record High

Nearly A$24B Was Spent In Calendar Year 2015, Government Says

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Australians spent a record A$23.6 billion on gambling in 2015, according to a government report released last month. That’s nearly $18 billion USD.

The revenue was up about four percent compared to the A$22.7 billion gambling market the previous year, the data from the Queensland government shows. About $920 million came from sports betting and $2.9 billion came from racing bets. Nearly $20 billion of the total came from the casinos, pokie machines and the lottery, among other smaller-scale gaming activities.

Aussies are said to be the world’s biggest gamblers, as its 24 million people generate one of the largest gambling markets on the planet. It was the sixth largest as of 2014. According to the local government, Australian households spent an all-time high 2.1 percent of their disposable income in 2015 on gambling. Per capita gambling expenditure in 2015 was A$1,273 ($962).

According to H2 Gambling Capital, the per capita gambling losses are the highest globally. Singapore, which has a gambling market of about $9 billion, is a distant second.

While the 3.9 percent year-over-year growth marked a strong 2015 for the Australian gambling industry, it was below the 7.7 percent gain witnessed in 2014.