Jockeying for position: The return of in-person betting has raised the odds of revenue growth
The Horse and Sport Betting industry has undergone significant change over the past decade, as online and mobile betting websites have gained a greater foothold in the market, eroding the traditional dominance of Tabcorp. Punters are increasingly choosing to bet online, rather than through retail outlets. Revenue is expected to grow at an annualised 3.7% to $6.4 billion over the five years through 2023-24. This result includes an expected increase of 4.2% in 2023-24, as in-person gambling venues continue to recover from declines brough on by the COVID-19 pandemic. A sharp recovery in spectator sport participation and horseracing attendances is also likely to boost revenue. These trends are likely to offset the ongoing effect of cost of living pressures on gambling expenditure in Australia, which is weighing on the performance on bookmakers in all segments of the industry.
Industry operators provide gambling services, including totalisator and betting services. Gamblers generally place wagers on horseraces and sporting matches. The industry includes online gambling services but excludes casinos and lottery operations.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Table of Contents
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Tabcorp Holdings Limited
- Paddy Power Australia Pty Limited
- Racing and Wagering Western Australia
- LB Australia Holdings Pty Ltd
Methodology
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