Nationally, the COVID-19 pandemic affected the Australian economy in ways that nobody could have imagined before 2020. Currently, the country is experiencing its first recession in years. Job losses are the norm, businesses had to close shop, and many sectors experienced a decline. There are fears that it could take Australia long years of blood and sweat to recover from this.
However, some sectors did not suffer as much. For example, the online gambling sector experienced phenomenal growth over the last year. Today, Australians are spending a large portion of their finances on online gambling.
A close look at one of the best online casinos in Australia shows a sharp rise in bets placed. Last year, when the government gave Australians, especially pensioners, $474 as a one-off payment for their needs, many used it on gambling sites. That development was not shocking in a country where gambling is part of the fabric. In some circles, however, gambling appears to be nothing less than a national addiction.
Some Australians believe the love for gambling is born out of the rebellious spirit in the country. Whatever the case, Australians spend roughly $1,172 on gambling annually. Online gambling proves more popular with Australians because the sites offer low deposit minimums, enticing bonuses, and a chance to place low-stake bets.
The Pandemic Effect
With the COVID-19 pandemic creating massive uncertainties globally, you would expect people to invest more into savings. For example, it would be wiser not to spend your hard-earned finances on unnecessary expenses. Interestingly, this has not been the case with the online gambling world. Australians dove into online gaming as though the world is ending tomorrow.
The trend is also quite notable in other countries too. Online gambling experts believe that the industry could emerge victorious or with the least financial damage in the post-COVID-19 era. The fact that the industry is easily accessible through mobile devices makes it even more attractive.
In Australia, the Australian Gambling Research Center (AGRC), which operates under the Australian Institute of Family Studies (AIFS), discovered the number of people gambling online grew from 79 percent to 83 percent per week. They also discovered that 32 percent more people now gamble at least four times or more per week. In the past, this number stood at a respectable figure of 23 percent.
This trend is more noticeable in not only males but also young people. Australians aged 18–34 years were more likely to delve deeper into online gambling during these COVID-19 times. Initially, Australians favored brick-and-mortar gambling venues. However, this changed when the pandemic forced the government to impose lockdowns and curfew.
Moreover, there is fear that members of the Culturally and Linguistically Diverse (CALD) communities are at more risk of jumping headlong into online gambling and embracing it fully. That is because they sometimes struggle to settle in the country and find alternative activities they can access
Crisis and Opportunity
In some parts of the world, online gambling has become a huge problem. It created a societal crisis that governments are now struggling to solve. It’s worrying that young children have access to gambling websites, platforms, and apps.
The law allows Australians aged 18 years and above to play with the best digital casinos in Australia. In the pandemic era, more people embraced this form of gambling. There is now fear that gambling addiction and crisis are developing.
Most likely, you have also seen more of your friends develop this addiction. The chances are that you know many others who are on the verge of bankruptcy or serious family problems because of gambling.
Nevertheless, these problems created new opportunities too. For example, it is now customary for gambling firms to work with individuals and authorities to address addiction and other societal problems. Today, the best virtual casinos in Australia reach out to more problem gamblers. You are likely to find many of them working closely with non-profit organizations and the government to address issues related to gambling.
Online Casinos are Thriving in Australia
Undoubtedly, online gambling created unlimited crises in Australia and the rest of the world. Societal crisis and moral questions linger the most, especially because of the exposure young children have to gambling sites. Although the digital gambling industry witnessed impressive growth in profits in the COVID-19 era, the best online casinos in Australia now work with authorities and other organizations to help those addicted to gambling.