Gambling Industry in Australia

SPORTS BETTING INDUSTRY
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Abstract
Gambling Practices in Australia is seen to have grown enormously during recent times. According to the ABS data reveals that the expenditure on the legalized gambling has tremendously increased as compared to the past. This report is going to offer a deeper insight into the gambling industry in Australia, highlighting the vital parts of the business. The report targets at informing the public of the available information that regards the current trends in interactive gambling within the country. The report offers the strategic gambling industry analysis of the various factors that influences companies. These factors are inclusive of the new product developments, lifestyle, economic, and, distribution and supply chain factors and pricing issues in the gambling company (Gray 2013). Therefore, the report offers the full analysis that forecasts to illustrate how the gambling market responds to emerging industry trends.
Gambling industry
Gambling in Australia,just like in mny other countries,is part of the lucrative entertainment industry.It has been part of the Australian leisure activities for more than a century,and continues to occupy a big part of its entertainment. Today, gambling in sport forms an important industry to its right as it employs thousands of Australians. It also enhances Australia’s reputation as the tourist destination that in return brings the foreign exchange to the country. Therefore, wagering and sports betting gambling industry in Australia are known to be one of the oldest and most popular sports betting site in Australia. They give huge amounts of marketing at some of the biggest sporting events in the country as they run multiple free bet and money back promotions on several sporting activities (Alderson & Gabriel 2013).
Gambling position
When considering the population size and the chunk of this population that gambling occupies,it is worth noting that the industry is growing .This can be evidenced from the analysis of the industry over the past thirty years.The present times have seen the industry grow fourfold,based on the real gambling turnover and government revenue, as there has been the increase in gambling-related taxation (Armando 2014). This is a direct indication of the importance of the revenue collected from the gambling industry,in the development of the country and its subsequent states. The control of this industry lies in the mandate of the Australian States,thereby limiting the influence of the commonwealth in it. In the past, territory and State governments shared the control and responsibility of the industry by handling of regulation and provision of gambling services.This meant shared revenue.
The late improvements in betting industry have seen the Commonwealth stand firm ,and take a dynamic part in the business. In addition, public worry over the aftereffect of betting on Australian culture has provoked the Commonwealth to found the request by the Productivity commission.In current time, sports betting industry has rapidly adopted the new communication technologies that have attracted the Commonwealth interest (Gray 2013). These concerns of embracing technologies emer...