Market Overview
Australia has one of the most active sports betting markets in the world. Punters here wager more per capita on racing and sports than any other country, and the industry has grown substantially over the past decade as mobile betting transformed access. IBISWorld estimates that the horse and sports betting industry generated around $7.5 billion in revenue in 2024–25, having grown at an annualised rate of 3.6% over the preceding five years.
Total annual betting turnover — the gross amount staked before payouts — exceeds $50 billion across more than 230 licensed operators. Statista projects the total sports betting market will reach US$7.32 billion in revenue by 2025, growing to US$8.36 billion by 2030 at a compound annual rate of 2.7%. For context, this represents roughly 2.4% of the entire global sports betting market.
The structural story of Australian sports betting over the last five years is simple: everything has moved online. Fixed-odds digital bookmakers, led by Sportsbet and Ladbrokes, have gained ground at the expense of traditional retail operators and totalisator wagering. The merger of BetEasy into Sportsbet in 2020 and Ladbrokes' acquisition of Neds have accelerated the consolidation of the online market into the hands of a small number of large, foreign-owned operators.
Wagering by Sport and Racing Code
Horse racing remains the dominant product in Australian wagering by both turnover and revenue, though its share has been gradually eroded by sports betting over the past decade. The following table summarises participation and market composition by activity based on available 2024–25 data.
| Activity | Turnover / Handle | Market Share | Primary Format | Key Event |
|---|---|---|---|---|
| Thoroughbred Horse Racing | ~$7.6B (VIC national turnover, FY25) | ~37.9% | Fixed-odds / Tote | Melbourne Cup Carnival |
| Harness Racing | Included in racing total | ~6% | Fixed-odds / Tote | Inter Dominion |
| Greyhound Racing | Included in racing total | ~8% | Fixed-odds / Tote | The Meadows Classic |
| AFL / Aussie Rules | Est. $4–5B annually | ~15–18% | Fixed-odds | AFL Grand Final |
| NRL Rugby League | Est. $2–3B annually | ~8–10% | Fixed-odds | NRL Grand Final / State of Origin |
| Cricket | Growing segment | ~5–7% | Fixed-odds | The Ashes / Big Bash League |
| Football (Soccer) | Growing, particularly EPL | ~5% | Fixed-odds | English Premier League, A-League |
| Tennis | Grand Slam–driven | ~3–4% | Fixed-odds / In-play (offshore) | Australian Open |
| Golf | Niche but growing | ~2% | Fixed-odds / Tournament outrights | The Masters, Australian Open Golf |
| Rugby Union | Niche | ~2% | Fixed-odds | Super Rugby, Rugby World Cup |
Sources: IMARC Group 2025; IMARC market research; Racing Victoria FY25 annual report. Market share figures are estimates based on available industry data.
Horse Racing
Horse Racing — Australia's Biggest Betting Product
Thoroughbred racing alone accounted for 37.9% of sports betting market share in 2025. Racing Victoria's FY25 annual report confirmed Victorian thoroughbred racing generated AUD $7.611 billion in national betting turnover — maintaining its position as the single largest wagering product in Australia. The Melbourne Cup Carnival alone recorded over AUD $1 billion in national expenditure in November 2025, with $382.5 million wagered on Cup day — an 11% year-on-year increase attracting 2.3 million television viewers.
AFL (Australian Rules Football)
AFL — Most Betted Domestic Sport
The AFL is the most popular domestic sport for wagering in Australia. ANU POLIS research found that 58.5% of online sports bettors have wagered on AFL in the past year, making it the dominant sports code by participation. Typical markets include head-to-head, line betting, first goalscorer, and live in-game markets (via offshore platforms or licensed phone-in operators). The AFL Grand Final is the single highest-wagering day for sports — not racing — in Australia.
NRL Rugby League
NRL — Second Largest Sports Betting Market
The NRL is Australia's second-largest sports wagering market and the dominant code in Queensland and New South Wales. State of Origin is one of the most heavily betted non-racing events on the Australian calendar. NRL markets have expanded significantly in recent years to include player performance props, quarter-time scores, and same-game multi bets — a format that has driven significant revenue growth for digital bookmakers.
Cricket
Cricket — Fastest Growing International Betting Market
Cricket betting has grown substantially, driven by the Big Bash League's T20 format, international test series and the Indian Premier League (which Australians bet on legally offshore or via licensed international platforms). The Ashes series and Australian home summer generate significant wagering volume. Match result, top batsman, total runs and player milestone markets are all popular with Australian punters.
Golf and International Sports
Golf has seen growing wagering interest, particularly around The Masters and the Australian Open Golf. Markets typically include tournament outright winner, round leader, make/miss cut, and head-to-head matchup bets. Soccer betting, particularly on the English Premier League and UEFA Champions League, has grown significantly among younger demographics who engage with international football through streaming. Tennis attracts its largest wagering volumes during the four Grand Slams, with the Australian Open carrying the highest domestic participation.
Online vs Retail Wagering
The shift from retail to online has been the defining structural change in Australian sports betting over the past decade. What was once a market where bets were placed at TAB outlets in pubs and clubs is now overwhelmingly conducted on smartphones. According to IMARC Group research, online platforms held 72.8% of total sports betting market share in 2025. Earlier industry data from Grand View Research puts the online revenue share even higher at 79.7%.
Online vs retail share of Australian sports betting revenue, estimated 2018–2025. Sources: IMARC Group; Grand View Research; IBISWorld.
The drivers of this shift are familiar: ubiquitous smartphone ownership, seamless mobile payment systems, always-on access to odds, and aggressive marketing by digital-first bookmakers. The introduction of same-game multi bets — which allow punters to combine multiple outcomes from a single match into a single parlay-style wager — has proved particularly effective at increasing average bet size and session length on mobile apps.
Types of Betting Markets Available in Australia
Australian punters have access to a wide range of betting market types, though some formats are restricted or prohibited under the Interactive Gambling Act 2001. The following are the primary bet types available through licensed Australian operators.
Fixed-Odds / Head-to-Head
The most common bet type in Australia. The bookmaker sets fixed odds on an outcome before the event. You back an outcome at those odds and your return is locked in at the time of placement, regardless of subsequent market movement. Applies to racing and all sports codes.
Same-Game Multi (Parlay)
One of the fastest-growing bet types. Combines multiple selections from a single event into one bet — for example, a team to win, a player to score first, and the margin to be under 20 points, all in one wager. Higher odds, higher risk. This format has driven substantial revenue growth for online operators since 2020.
Pari-Mutuel (Totalisator)
The traditional Australian wagering model, still offered through TAB. All bets go into a pool; the total pool (minus the operator's take) is divided among winning tickets. Odds fluctuate until the event starts and are determined by pool composition. Includes Win, Place, Each Way, Exacta, Trifecta and First Four.
Line / Handicap Betting
A virtual handicap applied to even out two teams or participants. For example, an AFL team may be set as -18.5 favourites — they must win by 19 or more points for a bet on them to win. Popular in AFL, NRL and cricket, where one team is significantly stronger than the other and head-to-head markets offer poor value.
Player Props and Performance Markets
Bets on individual player performance — try-scorer, first goalscorer, number of tackles, batting runs, wickets taken. This category has grown sharply with mobile platforms and same-game multi products. It is also the category with the most documented issues around potential match-fixing and integrity concerns.
Exotics (Trifecta, Exacta, Quaddie)
Multi-leg racing bets requiring you to correctly predict multiple finishing positions. The Quaddie — selecting the winner of the last four races on a card — is the most popular exotic in Australian racing and can offer large dividends from small stakes using combination betting.
In-Play / Live Betting (Online)
Placing bets after an event has started. Online in-play betting is prohibited under the Interactive Gambling Act for licensed Australian operators accepting wagers via the internet. Australians can legally place in-play bets by telephone with licensed operators. Many Australians use offshore platforms — which are illegal to operate in Australia but carry no criminal penalty for the bettor — to access online in-play markets.
Futures and Outright Markets
Betting on long-term outcomes before they are determined — a team to win a premiership, a player to win the Brownlow Medal, a horse to win the Melbourne Cup. These markets are open weeks or months before resolution and offer larger odds. They are particularly popular at the start of AFL and NRL seasons.
Largest Betting Operators in Australia
Australia's wagering market is dominated by a small number of large operators, most of which are either subsidiaries of international gambling conglomerates or legacy state-licensed businesses. The following table ranks the major players by estimated revenue and market share based on the most recent available data.
| # | Operator | Parent Company | Est. Market Share | Est. Revenue | Primary Model |
|---|---|---|---|---|---|
| 1 |
Sportsbet
Market LeaderOnline
|
Flutter Entertainment (UK/Ireland) | ~40–50% | ~USD $965M (9 months, 2025) | Online / Mobile fixed-odds |
| 2 |
Tabcorp (TAB)
Retail Leader
|
Tabcorp Holdings (ASX: TAH) | ~22–35% | AUD $1.25B wagering revenue (FY25) | Retail + Online hybrid |
| 3 |
Ladbrokes / Neds
Online
|
Entain PLC (UK) | ~12–15% | Part of Entain AUS/NZ segment | Online / Mobile fixed-odds |
| 4 |
bet365
Online
|
Hillside (Australia) — private (UK) | ~5–8% | Not publicly disclosed | Online / Mobile fixed-odds |
| 5 |
Unibet
Online
|
Kindred Group (Sweden) | ~3–5% | Part of Kindred APAC revenue | Online / Mobile fixed-odds |
| 6 |
PointsBet
Online
|
SBTech / now Betr (AU ops acquired 2023) | ~2–4% | ASX-listed before US exit | Online / Mobile — spread betting specialist |
| 7 |
BlueBet
Online
|
BlueBet Holdings (ASX: BBT) | ~1–2% | ASX-listed domestic operator | Online / Mobile fixed-odds |
| 8 |
Palmerbet
Online
|
Privately owned (Australian) | ~1% | Not publicly disclosed | Online / Mobile — racing specialist |
Sources: IMARC Group 2025; Tabcorp competitive analysis; Flutter Entertainment quarterly results Q2 2025. Market share estimates vary by source and time period.
Sportsbet's Dominance
Sportsbet, owned by Flutter Entertainment — the world's largest betting company by revenue — has been the dominant force in Australian online wagering since absorbing BetEasy in 2020. At its peak, Sportsbet held an estimated 47–50% of the online sports wagering market. Flutter's Q2 2025 results showed Asia-Pacific (primarily Sportsbet) revenue of $402 million for the quarter, though Australian sportsbook revenue faces increasing headwinds as market saturation and point-of-consumption taxes weigh on margins.
Tabcorp's Retail Position
Tabcorp occupies a unique position in Australian wagering: it is the only operator with a national retail network of TAB outlets in pubs and clubs, and holds exclusive retail wagering licences in several states. Its FY2025 results showed wagering and media revenue of AUD $1.25 billion with EBITDA growing 17% to $371 million, partly driven by the commencement of its exclusive Victorian retail wagering licence in August 2024. Despite holding 22.9% digital market share in FY24, Tabcorp continues to trail its online-only rivals in mobile engagement.
Taxation and Revenue by State
Wagering taxation in Australia operates on two levels: the historical point-of-supply model (where tax was charged where the operator held its licence — which most chose to be the Northern Territory, with its low rates) and the newer point-of-consumption tax (POCT), which charges tax based on where the bettor is located. The POCT regime, adopted by all Australian states between 2017 and 2020, has redistributed tax revenues more fairly among jurisdictions.
| State / Territory | POCT Rate | Threshold | Regulator | Notes |
|---|---|---|---|---|
| New South Wales | 10% of net wagering revenue | $150,000 | Liquor & Gaming NSW | Penalties up to $110,000 for advertising breaches |
| Victoria | 15% of net wagering revenue (from July 2024) | $1,000,000 | VGCCC | Increased from 10% in July 2024; highest rate nationally |
| Queensland | 15% of net wagering revenue | $150,000 | Office of Liquor and Gaming Regulation | Publishes national Australian Gambling Statistics annually |
| Western Australia | 10% of net wagering revenue | $150,000 | Online in-play betting prohibited; no pub/club EGMs | |
| South Australia | 15% of net wagering revenue | $150,000 | Consumer and Business Services | Strictest advertising rules nationally |
| Tasmania | 15% of net wagering revenue | $150,000 | Tasmanian Liquor and Gaming Commission | Small jurisdiction; fewer licensed operators |
| Northern Territory | 5% of turnover (older model) + Racing & Wagering Fund levy from July 2024 | Capped at ~$1.41M | NT Racing Commission | Historical hub for operators due to low rates; 34 bookmakers licensed here |
| ACT | ~15% of net wagering revenue | $150,000 | ACT Gambling and Racing Commission | Small market; clubs-based wagering |
Sources: ICLG Gambling Laws & Regulations 2026; Senet Group tax analysis. Rates and thresholds subject to legislative change. Always verify with the relevant state regulator.
Online Betting Legislation and Licensing
Sports betting in Australia operates within a layered regulatory framework that combines federal legislation with state-level licensing. Understanding the split is important — the federal government sets what is and isn't permitted, while state governments determine who gets a licence and how much they pay in tax.
The Interactive Gambling Act 2001 (IGA)
The Interactive Gambling Act 2001 (IGA) is the primary federal legislation governing online gambling in Australia. Its core provisions:
- Permits licensed operators to offer sports betting, race betting and lotteries online to Australian residents.
- Prohibits online casino games (slots, blackjack, roulette, online poker) for Australian players.
- Bans online in-play sports betting — bets placed after an event has started via the internet. This can legally be done by telephone with a licensed operator.
- Prohibits credit card deposits for online wagering (since August 2024, following amendment).
- Targets operators, not players — Australians face no criminal penalty for using unlicensed offshore sites, but those sites operate illegally if they accept Australian customers.
Key 2024–2025 Legislative Developments
Credit Card Betting Ban
All licensed Australian online wagering operators are now prohibited from accepting credit card or digital currency deposits. The measure was aimed specifically at preventing people from gambling with money they don't have, following evidence that credit card gambling was a strong predictor of financial harm.
Know Your Losses Activity Statement Bill
Proposed legislation requiring all licensed interactive wagering operators to display a real-time net win/loss figure prominently within their apps and websites. Designed to counter the normalisation of losses and provide a genuine "reality check" for users. Under development at time of writing.
Advertising Reform Package
The Australian Government announced reforms banning gambling ads in sports venues and on player uniforms, restricting broadcast ads to three per hour before 8:30pm, and imposing a complete ban during live sports coverage. Effective January 2027. A further private member's bill proposing a complete advertising ban remains under parliamentary debate.
POCT Rate Increase
Victoria increased its Point of Consumption Tax from 10% to 15% of net wagering revenue from 1 July 2024, making it the highest-taxing jurisdiction for wagering in Australia alongside Queensland and South Australia. The change is expected to redirect tens of millions in annual revenue back to Victorian coffers.
Racing and Wagering Act 2024
The NT passed the Racing and Wagering Act 2024, establishing a restructured NT Racing Commission with expanded powers over the approximately 34 bookmakers licensed in the Territory. A new Racing and Wagering Fund levy, applying from 1 July 2024, directs additional operator revenue to industry and harm minimisation programs.
In-Play Pilot in Venues
Regulatory clearance was granted by Liquor & Gaming NSW for a pilot program enabling in-play betting within licensed pubs and clubs — a significant development given the longstanding federal prohibition on internet-based in-play wagering. The pilot is being monitored closely by other jurisdictions.
Licensing Structure
Sports betting licences in Australia are issued at the state and territory level, not federally. An operator wishing to legally offer sports betting to Australian customers must hold a licence from at least one Australian jurisdiction. The Interactive Gambling Act then requires that licensed operators comply with its provisions regardless of which state issued their licence.
Most of Australia's approximately 230 licensed online bookmakers — including the largest, Sportsbet, Ladbrokes and bet365 — hold their primary betting licence through the Northern Territory due to its historically low tax rates and responsive regulatory environment. This means NT collects the licence fees, but since the introduction of the POCT model, each customer's home state also receives tax revenue on their wagers.
Key Industry Trends (2024–2025)
Several significant shifts are reshaping Australian sports betting in the mid-2020s.
Same-game multi bets driving revenue per customer. The introduction and rapid uptake of same-game multi (SGM) betting has been the most significant product development in Australian sports wagering since the smartphone. SGMs allow bettors to combine multiple correlated outcomes within a single game into one high-odds parlay-style bet. Bookmakers earn significantly higher margins on SGMs than on conventional fixed-odds markets, and the product has proved to be one of the stickiest engagement tools in the industry's history. Its growth has been so substantial that regulators have begun scrutinising the format for its potential to increase harm.
Consolidation among large operators. The mergers of BetEasy into Sportsbet and Neds into Ladbrokes have left the Australian online market dominated by three or four large foreign-owned operators. Smaller domestic operators like BlueBet and Palmerbet compete on niche propositions — primarily racing — but have struggled to gain ground in the mainstream sports betting market. The failed launch of Betr, backed by News Corp and bookmaker Matt Tripp, demonstrated that brand marketing alone is insufficient to break the hold of established operators with large customer databases.
Advertising under increasing pressure. Australia has one of the highest densities of gambling advertising in the world relative to population. The April 2026 federal advertising reforms mark the most significant restriction yet, but the complete bans advocated by public health researchers have been resisted due to lobbying from broadcasters, sporting codes and operators. Further tightening is expected over the next two to three years.
Wagering turnover declining even as revenue holds. An interesting dynamic is emerging in the market: total wagering turnover (money staked) is declining modestly as credit card bans and responsible gambling tools reduce impulsive betting, but revenue (operator take) is growing because same-game multis and exotic bets generate higher margins. Sportsbet's Q2 2025 results showed turnover down 6% year-on-year while revenue rose 3% — a margin expansion story that operators have incentivised structurally.
Offshore gambling remains a persistent challenge. The ACMA has blocked access to hundreds of unlicensed offshore gambling websites under the IGA's enforcement provisions, but determined gamblers can access them through VPNs. These sites are not subject to Australian responsible gambling requirements, BetStop compliance, credit card bans or tax obligations, making them a genuine consumer protection concern that has not been resolved by the current regulatory approach.
Sports Betting Statistics by State
Wagering is regulated at the state level in Australia, with significant variation in taxation, dominant betting products and regulatory approach. Select a state below to view detailed sports betting statistics, revenue data and licensing information for that jurisdiction.
