Traditional gambling falls, but online continues to rise

A NEW study has shown Australia's love affair with the punt continues - but there are signs the relationship is not as strong as it once was.

A Roy Morgan Research study into gambling showed the amount wagered by Australians on gambling dropped by $1.6 billion in the year to September, to $16.9 billion.

It continued a steep decline in gambling revenue since September 2010, when Australia's parted with $20 billion.

The most recent figure is also significantly less than the amount spent on gambling in 2003, which came in at $19.1 billion.

Poker machines again accounted for the bulk of money spent on gambling, with $10.2 billion put through machines in the year to September.

But Australian pumped $1 billion less into the pokies than the previous year, and almost $3 billion less than 2003.

While traditional forms of gambling appear to be declining, the rise and rise of online betting continued unabated.

The amount spent on this form of gambling, including sports betting, increased from $928 million in 2010 to $1.1 billion in the year to September.

Online betting agencies, like the ones operated by Tom Waterhouse, spend huge sums on advertising and event sponsorship to secure a slice of Australia's gambling largesse.

source: The Queensland Times