Australia: gambling is biggest growing sector

National Australia Bank says spending on gambling has grown more than any other sector.

Australia.- Overall spending fell during the lockdown in Australia, but the gambling sector appears to be booming.

According to data from the National Australia Bank, Australians spent 62.7 per cent more on gambling while the country’s Covid-19 lockdown was in force than in the same period in 2019. That compares to a 41.6 per cent rise in the amount spent on internet publishing and streaming services, and a 28.8 per cent rise in the amount spend on cleaning and pest control.

The figures correspond to the four weeks leading up to June 6, but looking further back, the consultancy firm AlphaBeta recently released similar data for the first week of April, when spending in the sector grew by 67 per cent.

Also according to NAB, since the start of the year gambling activities have grown 50.7 per cent in Australia, while other sectors only saw rises of between 16 and 45 per cent.

Time availability, home office working, lockdown measures and the return of professional sports through the NRL and AFL seasons were some of the factors believed to have influenced the surge, The New Daily reported.

This newspaper confirmed that live-sports punters both from Australia and overseas had returned at large in the past two weeks. Although, even in this context, the sports gaming sector has a long way to go make up for lost revenue.