Horse and Sports Betting in Australia Industry Market Research Report Now Updated by IBISWorld
The Horse and Sports Betting industry in Australia is undergoing significant change, as governments abandon their holdings in state-based TAB operations to effectively develop a national wagering market. Private betting websites are also gaining a greater foothold in the market, due to changing consumer demand and preferences, and improved access to betting websites. For these reasons, industry research firm IBISWorld has updated its report on the Horse and Sports Betting industry in Australia.
Melbourne, Australia (PRWEB) July 21, 2012
The Horse and Sports Betting industry is undergoing significant change, as governments abandon their holdings in state-based TAB operations to effectively develop a national wagering market. According to IBISWorld industry analyst Craig Shulman, “private betting websites are also gaining a greater foothold in the market, due to changing consumer demand and preferences, and improved access to betting websites”. This is particularly relevant to the Northern Territory, which provides favourable legislation and has attracted many large domestic online betting operations.
Sports and events betting, while still low in revenue terms compared with racing, is now the fastest-growing segment in the industry. Shulman adds, “the segment provides sports and events fans and professional punters the opportunity to wager on a wide range of sports and events, which has opened up a new market for these providers”. Industry revenue (revenue retained by the industry after handing out winnings) is expected to grow at an annualised 2.6% per year over the five years through to reach $3.5 billion in 2012-13, which is up 0.4% on the previous year. Sports betting in particular is growing robustly, and this is expected to continue over the next five years, particularly among online businesses. Horse and Sports Betting industry revenue is thus expected to grow over the five years to 2017-18.
The Horse and Sports Betting industry has a very high level of ownership concentration. The three major players in the industry are Tabcorp Holdings Limited, Tatts Group Limited, and Racing and Wagering Western Australia.This high concentration is related to the wagering segment, which now effectively operates as a single, national market. The high level of merger and acquisition activity from the public float or sale of former state-owned TAB operations has also contributed to the high concentration in the industry. For the bookmakers segment, concentration is significantly lower, and often these businesses can be small, sole-trading enterprises. However, online bookmakers tend to be larger operations, so concentration in this segment will increase.
For more information, visit IBISWorld´s Horse and Sports Betting report in Australia industry page.
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IBISWorld industry Report Key Topics
Businesses in this industry provide totalisator, betting and other gambling services, excluding casino and lottery operation. The industry includes TABs, on-course totes, bookmakers and wagering websites.
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Technology & Systems
Regulation & Policy
About IBISWorld Inc.
Recognised as the nation´s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every Australian industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Melbourne, IBISWorld serves a range of business, professional service and government organisations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com.au or call (03) 9655 3886.
For the original version on PRWeb visit: http://www.prweb.com/releases/prweb2012/7/prweb9719398.htm