Around the world, football is one of the most popular sports among punters, but Australia has been somewhat behind the times. Now, football betting is finally catching on in the country, and betting professionals estimate that the market will be worth billions in coming years.
According to Deloitte, the worth of the Australian football betting market will rise by $1.8 billion for year of the next five years. Currently, wagers on the Australian football league are worth $900 million, and the firm believes that it will double in coming years thanks to increased interest in the game.
These numbers are still comparatively small, however. The local horseracing market is worth $20 billion annually, whereas football betting will only equal 10% in the future.
The liberalization of the online gambling market will certainly help to boost sportsbetting profits. Even with just one legal online betting operator, TabCorp, Australia’s market has soared in recent years. Now that the local government is considering opening the market up to other international operators, the sportsbetting world is expected to see some impressive profits over the course of the next few years.