Guide to Australian Sports Betting
The Australian sports gambling market is one of the fastest growing gambling markets in the entire world. There is an estimated 80% of Australians engaging in some form of gambling, the number of online betting sites available to Australian sports betting fans has dramatically increased, year after year, for the last decade.
While their federal government legislation exists to protect Australian gamblers, betting sites are actually regulated by State and Territory authorities which is like the state and local level in the US. Here we will give an overview of what to look for when choosing an online sports betting site that is available in Australia, either domestic or offshore, and how to confidently make a deposit at a site you won’t regret.
Australian Betting Sites
The Australian sports betting market has experienced some dramatic growth in recent years and there are plenty of online betting sites available for gamblers to choose from. Many homegrown Australian operators have begun competing with the large international brands operating offshore for the increasingly sophisticated Australian sports betting fan’s business and action. Homegrown Australian brands offer the sports popular in Australia, in particular Aussie Rules Football (AFL), Rugby (NRL and Rugby Union), Basketball and Cricket, while the major international brands tend to focus on international sports and sporting events, including soccer leagues around the world as well as all major North American sports which include Major League Baseball (MLB), NBA Basketball, NFL Football and NHL Hockey.
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As expected, many wager types are available for international sports, with bet types specific to sports popular in Australia also available. Most are very similar to US-style wagers. Single Betting is available on virtually every sport covered by an Australian brand. (These are moneyline wagers everywhere else in the world) Margin Betting is also available on AFL, NRL, Rugby Union and Basketball which is similar to point spread betting. Margin Betting allows you to pick the margin of victory in a game. However, unlike point spreads, the number of points given in a Margin Bet is static, with an attached moneyline that moves based on action. For instance, average AFL Margin Bets are 1-to-39 points, 40+ points and Draw. For Rugby, they are 1-to-12, 13+ and Draw, and 1-to-10 and 11+ in Basketball. Parlay betting, known as Multibets, are also widely available, while prop bets are known as Exotics in Australian online sportsbooks.
Due to a few legal restrictions, Live In-Play wagering or Live Betting is not available in every Australian online sportsbook. Australian betting sites also offer comprehensive coverage of horse racing and greyhound racing, with regular daily coverage of races at tracks across Australia and New Zealand, not to mention racing events in the UK and Ireland, South Africa and the United States.
Most Australian betting sites also offer promotions and incentives to both new and existing customers, as well as promotions that encourage players to visit online casinos offered by reputable brands. The Welcome Bonuses, Referral Bonuses, Reload Bonuses, etc. are all made available just as with online sportsbooks available in the US.
Are These Sites Legit?
With so many online sports gambling options available to Australian sports betting fans, it’s important to do some research before making that all-important first deposit. Australian federal legislation exists and places many limits on the entire domestic gambling industry. Their reputable betting sites are licensed and regulated by the eight State and Territory regulatory bodies, such as Queensland’s Office of Liquor and Gaming Regulation and the Northern Territories Licensing Commission. Reputable Australian betting brands usually provide details of their license on their website.
Operating from offshore, there are a number of very reputable international companies also service the Australian market. All of these sites are regulated by the governing bodies in the jurisdiction in which they are based. Proof of licensing is no guarantee of an online betting site’s ethical conduct. However, it is important to remember that the absence of such licensing should immediately raise concerns as there are many other options available to you.
While a number of reputable companies have already begun operating in Australia, a good rule when choosing any betting sites is to look for ones that have been in business for at least five years. It takes a lot of time and a lot of work to establish yourself as a strong reputable online brand. Unethical, fly-by-night operations don’t stand the test of time and usually shut their doors rather quickly.
It is also wise to check out a company’s customer service and gambling policies. Make sure you can easily reach a brand’s customer service group using the method of your choice, especially when you have questions about a deposit or a withdrawal.
How to Deposit
A wide range of deposit methods are offered by Australian betting sites. The most popular method, just like anywhere else, is by credit card, as most Australian betting operations accept Visa and Mastercard. PayPal and bank transfers are also widely accepted method of deposits. However, bank transfers can take up to 48 hours to process.
When the time comes, several options exist for making withdrawals. On many Australian betting sites, once your identity has been verified, you can easily make a withdrawal directly from the betting site to your bank account, credit card or PayPal account, depending on the method of deposit you initially used. Timing of withdrawals is a good difference maker when judging an online sportsbooks or gambling site. It takes time for any gambling site to complete a pay out but the ones that do it the quickest are usually some of the best.
As mentioned, Australia is one of the world’s fastest growing sports betting markets with more and more online gambling options popping up everyday. It is important when using these sites, you do your research and find the best site for you and the way you wager. There are ample available and now you know what to look for.