Online betting is a popular and growing activity in Australia, where many people enjoy wagering on various sports, racing, and fantasy events. However, online betting in Australia is also subject to complex and changing laws and regulations, which affect the availability, legality, and quality of different betting options and platforms.
Is betting legal in Australia?
Betting is legal in Australia, but it is regulated by different laws and authorities at the federal and state/territory levels. The main federal law that governs online betting is the Interactive Gambling Act 2001 (IGA), which prohibits the provision of certain interactive gambling services to Australian customers, such as online casino games, slot machines, and poker. However, the IGA does not prohibit online betting on sports and racing events as long as they are not offered during the event (i.e., no live or in-play betting). The IGA also allows licensed operators to offer online lottery and bingo services to Australian customers.
Why is live betting banned in Australia?
Live betting is banned in Australia under the Interactive Gambling Act 2001 (IGA), which prohibits the provision of certain interactive gambling services to Australian customers.
The main reason for banning live betting in Australia is to prevent problem gambling and protect consumers from harm. Live betting is considered to be more addictive and risky than pre-match betting, as it involves higher levels of impulsivity, emotionality, excitement, and stress. Live betting can also increase the exposure to match-fixing and corruption, as it can create incentives for players or officials to manipulate the outcome or aspects of an event.
How many betting companies in Australia?
There are many online betting companies that operate in Australia, offering a variety of products and services to Australian customers. According to My Betting Sites, there are over 140 online betting sites in Australia as of October 2023. However, not all of these sites are licensed or regulated by Australian authorities. Some of them are based overseas and may not comply with Australian laws or standards. Therefore, it is important for Australian customers to check the credibility and reputation of any online betting site before using it.
How do betting odds work Australia?
Betting odds are numerical expressions that indicate the probability or likelihood of an outcome or event occurring. They also represent the amount of money that a customer can win or lose from a bet. There are different types of betting odds that are used in Australian sports, such as:
- Decimal odds;
- Fractional odds;
- Moneyline odds.
Betting exchanges in Australia
Betting exchanges are online platforms that allow customers to bet against each other rather than against a bookmaker. They act as intermediaries that match the bets of customers who have opposite views on the outcome of an event. Customers can either back (bet for) or lay (bet against) an outcome and set their own odds and stakes. Betting exchanges charge a commission fee on the winnings of customers, which is usually a percentage of the net profit.
Betting exchanges offer some advantages over traditional bookmakers, such as:
- Better odds;
- More flexibility;
- More control.
Betting sites in Australia
Betting sites are online platforms that allow customers to place bets on various sports and racing events, as well as other markets such as fantasy, esports, and virtuals. They are also known as bookmakers, bookies, or sportsbooks.
There are many new betting sites in Australia offering different products and services to customers. Some of the most popular and reputable betting sites in Australia are:
- PlayUp;
- Bet365;
- Lets Bet;
- Chasebet;
- JuicyBet.
Bookmakers offer different services and types of betting options to customers such as:
- Pre-match betting;
- Live betting;
- Same game multi;
- Multi betting;
- Cash-out;
- Live streaming.
Which is the best betting app in Australia?
There is no definitive answer to which is the best betting app in Australia, as different apps may suit different customers’ preferences and needs. However, some of the factors that customers may consider when choosing a betting app are:
- Availability;
- Functionality;
- Performance;
- Security.
Based on these factors, some of the betting apps that customers may consider are:
- PlayUp;
- Bet365;
- Unibet.
Betting promotions for Australians
Betting promotions are offers or incentives that online betting providers give to customers to attract or retain them. Betting promotions can take various forms, such as:
- Sign-up bonuses;
- Free bets;
- Enhanced odds;
- Cashback;
- Loyalty programs.
Stay updated about changes in sports betting in Australia and place sports bets only on trusted betting sites.