Gambling has been an important part of Australian culture for centuries. However, the legalization process and modern gambling, which is heavily regulated, are relatively new. Even though these rules and regulations are somewhat restricting, they haven’t slowed down the interest in gambling that’s common in Australia.
Australia was also quick to adopt online gambling since the population is rather wealthy and tech-savvy, which is rather important when it comes to adopting this approach to gambling. Here we will briefly go through the gambling history in Australia,
Early Beginnings
The history of gambling in Australia, starts rather early, somewhere in the 18th century. That’s when the first European settlers found the shores of Australia. They used to play a coin-based game called Two Up. The game originated in Ancient Greece but it was especially popular in England and Ireland at the time.
The coins are tossed in the air at the same time, and the bets were placed as to how they would fall. The most lucrative outcome was to get two odd pairs in a row. The game became rather popular in Australia during the great gold rush.
Horse Racing
The first official gambling started in 1810 when an official horse race took place at the order of Governor Macquarie. Horse racing was especially popular in New South Wales at the time. By the 1840s horse racing became common across Australia.
In 1861 Victorian Racing Club organized the Melbourne Cup and capitalized on gambling. The Cup still exists and there is still betting on it. At this point, it generates as much as $14 billion per year in wagers. It’s one of the most important events in the world of horse racing.
The Lottery
The first government-run lottery came to Australia in 1916. However, there was a lottery before that, starting somewhere in the 1880s but it was organized by the government and was soon prohibited by a range of local authorities. The aim of the lottery set up during World War I was to gather the funds for charitable foundations helping with the war effort.
Government-run lotteries are still popular in Australia. There are also some that are owned and operated by the non-profit and private sectors. Many charitable organizations are still funded partly by these lotteries.
Pokie Machines
First slot machines were introduced to Australia in 1953, by a private company called Aristocrat. The machines were brought in from the US where they were already popular. The practice was legalized by the government in 1956. This changed the landscape of gambling in Australia forever. Slots are usually amongst the most popular gambling games wherever they are introduced, and that was the case for Australia as well.
Slot machines, called pokie machines in Australia, are still popular to this day. There are more than 200.000 machines currently operating. The yearly revenue from these machines is somewhere close to $3 billion a year. The machines are most popular in New South Wales, the Hunter region, and the Central Coast region.
The First Casino in Australia
Even though horse race betting was legal for about 100 years at that point, Australia didn’t have a casino until 1973. It started in Tasmania after a few years of legal battle to allow the practice in the state. The casino features games such as roulette, blackjack, and baccarat.
The goal was to boost the tourism revenue for the state of Tasmania and it worked pretty well. Other casinos opened across Australia in the 1980s. Some of these, including the first ones, are still in business offering great service.
The Interactive Gambling Act
Internet gambling became common in Australia during the dot com boom but it wasn’t regulated by any government entity since the practice was still new. The government stepped in, however, in order to regulate the practice. This is how 2001 The Interactive Gambling Act came to be.
Even though the act is somewhat restrictive to online gambling, it has regulated the area and now online gambling is more widespread than ever. However, parts of the tax revenue from it is going towards battling the addiction, since the government has recognized that as an important gambling issue.
The Growth of Online Gambling
Even though there’s rather restrictive regulation when it comes to online gambling, Australians are still betting online through a variety of loopholes. This is further helped by the fact that the winnings made from gambling aren’t taxable. This includes sports betting which is still the most popular form of gambling.
Now when online gambling is easier to access than ever the practice has become more popular than ever. This is especially true with young players who are used to gambling from their phones. The introduction of cryptocurrency as a payment method has helped as well, and there has been a rise in crypto gambling Australia in recent years as customers have a greater choice in what currency they use.
To Sum Up
Gambling has been around for centuries in Australia, and it really found its footing in horse race betting in the 19th century. That was also the first time when it was supported and organized by the government. Slot machines became popular in the early 20th century.
Australian gamblers were early adopters of online gambling and the law that regulates the industry was passed in 2001. The law is rather restrictive, but there are still loopholes that allow Australian players to enjoy online gambling. Gambling of all kinds including sports betting is still a popular and lucrative industry in Australia.
