Sports Betting booms in Australia
By Paul
Their team didnít make it to the World Cup finals and soccer isnít the biggest sport there, but Australian bookies have a lot to thank the soccer tournament for, as takings beat all expectations.

Sports betting is now the fastest growing segment of the betting business in Australia, with total revenues approaching $55.6 million (AU $100 million) per year excluding horse racing.

Most of the sports betting in on the Australian Football league (AFL), but the World Cup has been the latest betting outlet for Australians.

Tabcorp says it took $9.7 million(AU $17.5 million) in bets during the tournament, more than doubling its estimates, while Centrebet is believed to have taken about $8.3 million (AU $15 million) in World Cup bets.

In the past week, two smaller listed companies specialising in sports betting have announced major leaps in revenue.

Canbet, a Canberra-based gambling outfit, said its turnover had doubled in the past financial year compared with 2000-01, while IASbet announced an unaudited pre-tax profit exceeding $3.8 million (AU $7 million) for the year.

Betting options in AFL have expanded hugely in recent years.. Apart from the outcomes of games, there are opportunities to bet on who will kick the first goal or will have the most possessions and most tackles.

 
 
 
 
 
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