Latest Gambling News Out of Australia – What’s being said down under on the betting & iGaming scene?

Rising gambling losses in Queensland, AFL advertised bets with 85% failure, Zed Run adds sports betting & Crown looks to raise A$750 million! (Photo by Rohi Bernard Codillo)

It has been busy in the Australian gambling market with the usual tit-for-tat government and anti-gambling associations Vs—casino operators, so there is plenty to talk about.

In this latest Aussie gambling news report, we look at Queensland’s current surge in gambling. The stats don’t look bad regarding percentages, but a high percentage rise in losses over the past 12 months has raised eyebrows. Could it just be a case of an undervalued market catching up to a position where it should be? Well, you can read all the stats below and decide.

Also covered below is the Zed Run virtual horse racing brand. The company has partnered with North American sports betting firms to bring sports to its blockchain-driven platform.

Anything else? Yes, there’s more gossip. The AML is under fire and could face a complete prohibition on advertising certain types of bets. This comes after stats show a low rate of winners when placing bets from these advertisements. To polish off the latest Australian gambling news, the Crown Entertainment operator is still in the Aussie market and looking to increase its financial prowess to restrategize.

Previous Gambling News Out of Australia: There plenty of news coming out from Down Under. The previous Aussie news report published covers the upcoming ban on credit cards published on 19 September 2023 – Credit Card and Crypto Online Gambling Ban in Australia.

Are Increased Queensland Gambling Losses Over exaggerated?

Queensland analysts report that gaming losses over the past 12 months are more than A$ 3.27 billion. Now, to put this into perspective. The GDP per capita in the region was reported at A$ 84,992 in 2022, and the state’s GDP in 2022 was A$ 447,487 billion. A figure of A$ 3.27 billion is 0.731%. The stats also show that the A$ 3.27 billion includes what would mark a rise of A$ 500 million by the end of the year. And here is the punch line. Carol Bennett, from the Alliance for Gambling Reform, has used these figures to push for a nationwide strategy to prevent the increases in gambling losses.

I mean, 0.731% is nothing to make a noise about. There are 5.5 million people in Queensland, so each loss is A$ 594.55 per year versus A$ 84,992 per capita, which is 0.699%. Maybe watching out for further rises is an excellent idea to avoid future negative social issues.

Is this just making noise for the sake of it? Rising numbers in gambling are always worrying. However, I don’t think the rise is an alarming rate. Yet there is some concern in which you can see why Carol Bennett is kicking up a storm. The increase of A$ 500 million is 15.29% in just 12 months. If this continues, then there is certainly cause for concern.

AFL is Under Fire After 85% of Bets Fail

The Australian Football League (AFL) is one of the country’s most respected sports associations. However, recently, it has come under fire for endorsing bets with only a 15% win rate. In other words, people who place these bets lose 85% of the time.

As usual, politicians and public health campaigners kicked up a storm once the figures got out. What’s new in Australia? It seems that every corner you turn on gambling causes some outcry. Now, there are calls for an outright prohibition on advertisements that promote bets with high fail rates. A recent analysis validates that gamblers would likely win on 17 out of 90 matches, underscoring the issue the AFL faces.

With that being said, gambling advertising is constantly under scrutiny in Australia, so this news comes as no surprise. Check out the previous report here on Casino Plus Bonus covering bans on Aussie gambling ads published by Matthew O’Connor|om 28 June 2023.

Reshaping the Landscape of Digital Sports Betting

If you have heard of Zed Run, then you’ll know that it specialises in virtual horse racing by leveraging data analytics and blockchain tech to offers a unique sports betting experience. The brand’s aim is of course to redefine the digital sports betting scene with something different to offer.

Now the company has fostered in a channel for sports wagering on top of its virtual horse racing options. This marks a new step in Zen Run’s progress. However, it is still operating under Australian laws, so I am not quite sure how good the odds are compared to online casinos that also offer sports betting under the Curacao licensing authority framework. The same applies with bonuses that are often not as attractive.

As for the virtual horse racing specialist’s move into sports, this comes via a series of B2B partnership agreements with North American operators and those in other regulated jurisdictions. Currently, the platform provides a daily slate of 4,000 to 20,000 races.

Star Entertainment Looks to Reset its Financial Position

The Star Entertainment casino operator group is the second largest in Australia. However, the company has had to pay out some huge fines as of late. It is also facing a reduction in customers. To rectify its past and current shortcomings the operator is now seeking to raise funds to implement a stragtegic overhaul of its operations. The figure the operator is looking to raise comes to the tune of A$ 750 million.

The current blueprint revealed so far consists of issuing discounted shares at A$ 60c each and orchestrating a A$ 589 million entitlement scheme. On top of this, Start Entertainment is looking to procure A$ 450 million in fresh debt with Barclays and Westpac the likely lenders. Can Star Entertainment turn things around? Certainly. The operator just needs to follow the rules to avoid fines. Also, in the past, sourcing customers has come with questionable ethics. Therefore, ethical customer sourcing on top of following the rules will give the operator every chance of bouncing back.

For a deep study of the Australia’s online gambling market, casinos, bonuses, and the current laws, the Casinoplusbonus guide to Aussie casinos gives you all the in depth info you need. If you have any questions, please feel free to leave a comment.