Betting industry staples have struggled to stay relevant in Australia’s ever-expanding gaming gambling market. While TAB has been around in the online gambling market for years, the company has only just started to make its digital betting service a priority – and the move has proved to be a successful one. This week, Racing and Wagering WA noted 35.9% jump in profits from July 2013 to July 2014.
A significant portion of that revenue had been driven by the popularity of fixed- odds betting. One of the most important events to benefit the betting industry was the 2014 World Cup. Australian betting operators like TAB adopted online and mobile gambling just in time to capitalise off of one of the world’s biggest sporting events.
In additional, mobile betting has really taken off in Australia’s online gambling market – and, TAB has quickly acted on the trend. TABTouch is a mobile betting service that allows users to place bets on their favourite sporting events using their mobile phones and tablet computers.
Currently, it is one of TAB’s best-performing products; however, it has not displaced land-based betting "If you think about what our mobile growth is – and it's growing at around 115 per cent – you would think 'wow, retail must be going backwards in big numbers'. It's not," says RWWA CEO Richard Burt. "The majority of the growth is coming via mobile and retail is flat”.
Despite the impressive growth that has been seen in the Australian online betting market, operators still believe that there is more growth to be gained. Industry specialists have noted that offshore gambling operators are eating into the profits of locally regulated brands, and companies like TAB are certainly missing out.
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