With our phones neatly situated in our pockets, online betting has risen to new heights of popularity. In this tycoon of gambling, you may have noticed an onslaught of online sports betting advertised on TV and on the busiest streets in Australia. It seems the newest way to support your favourite player or team is to wager a bet on their success. Well, that’s what the likes of Sportsbet and Ladbrokes would have you believe. With the recent surge, or you may say a tidal wave, of online betting, we thought we’d better investigate and see what’s up. And discover whether online betting is our friend or foe?

A world of online betting

Picture this: 10 years ago you’re wandering home from work, stopping in at the local pub to place a bet on the latest horse making headlines. Fast forward to 2018, and anytime, anywhere you can set a bet on any sport, all over the world. So, the landscape of online betting has altered quite dramatically in 10 years. The scenery has changed, along with the aim of the game. Instead of gambling being an added addition to a night on the town, it’s ingrained into our routine. Sounds like a honey trip for addicts, doesn’t it?

What does the law say?

Before we dive into a mixed bag of opinions, let’s see what the letter of the law says. The government passed the Interactive Gambling Act in 2001 to combat online betting. The act restricts any site offering online gambling to Australians. However, games like online poker, blackjack, craps, slots and roulette are still readily available online to all players. These online betting suppliers are typically offshore, and difficult to prosecute.

The law also prohibits these companies from advertising and setting up an online betting store to Australian residents.

Online gambling, especially poker and slots, is nothing new; however, live advertisements are. And the only online betting given advertisement rights is, you guessed it, sports and racing. This comes as no surprise, with the 2018 State of Origin coverage parading 3 different ads for sports betting in one single break.

Recently, the government responded to public concerns that children were being exposed to betting advertisement during live game time. So, the government restricted betting ads from 5 am to 8:30 pm. Of course, the law doesn’t stop online betting ads running in the second half of most evening games. I mean, your kids don’t want to see the second half anyway, right?

Some stats about online betting Australia

Who doesn’t love a good stat? The rise of sports betting advertisement has kickstarted research into the effect of heavy online betting advertisement. Sink your teeth into these stats:

  • The average sport better is a male aged between 18 and 49 and works full time
  • In 2015, 41% of frequent sports bettors, experience one or more gambling issues
  • Every month, typically, 46 cents in every dollar spent on sports betting by numerous sports betters is spent by a person with moderate to severe gambling problems
  • A sports gambler with difficulties had four common characteristics: aged 18-29, male, single and renting

These stats were extracted from data collected in 2015. Now, in 2018, sports betting ads have become a staple for any game

The proportion of gambling users in Australia

Of course, it’s not surprising that sports and race betting own a significant portion of users. Sports and racing online betting is the only form of gambling that can be advertised and is readily accessible in your pocket via apps. Online betting is quite literally available at the touch of a button.

The main players in online betting Australia

There are a couple of main players that you’ve probably seen advertised while commuting, relaxing in the cinema or enjoying Friday Night Football. The most frequently visited online betting Australias sites are:

  • Sportsbet Australia
  • CrownBet
  • Ladbrokes Australia
  • Unibet

The difference between all these companies is microscopic. They all offer live betting, sports betting and races betting, with a myriad of betting odds.

Why online sports betting?

The philosophy of gambling lies in risk. That’s all that gambling involves. How much you’re willing to risk. Whether we know it or not, our lives are woven by this philosophy. Every decision we make is a gamble, and we must play the odds. And then addiction can set it. Gambling addiction can lie in thrill-seeking to online betting. Of course, with the recent takeover of online sports betting, gambling is now all wrapped up in a lovely bow and gifted to the average joe. And that’s a game changer.

Can gambling and your budget live in harmony?

Online betting, particularly online sports betting, can be like any form of entertainment if you work it into your budget, you manage the expenditure. Of course, budgeting for gambling may suck the alluring appeal of the act itself; however, it might save you some headaches in the future.

When it comes to budgeting, the key is to manage your hard-earned moolah and document just where that money goes. Ever logged into your bank account and slowly started convincing yourself that someone must have hacked your account? But then a feeling ever more crippling takes hold as you begin to recognise the expenses on your list. If you budget your income, you may be able to skip that initial feeling of horror. And what a relief that would be?

If you set yourself a budget for your online betting, you can enjoy the entertainment without losing your grocery money!

As with most things in life, we can draw up a positive and negatives list for online betting and sports betting advertising. How online betting can add to life’s pleasure, but how it can also take away from people’s happiness. So, let’s look at why online betting is your friend and foe?

Friend

Online betting is exciting.

There’s a reason why online betting is extremely popular; it’s damn fun! Online betting is a way to support your favourite team and maybe win something extra for yourself. It’s literally a win-win!

Convenience.

With online sports betting, you can bet on your favourite player or team from the comfort of your couch. Simply download an app and get started! That’s it. Without the hassle of the journey to the local pub, you can watch the game from your couch and see the fruits of your effort come into play.

Can work with any budget.

As we mentioned before, you can easily work online betting into your weekly or monthly budget. Or you wait until your favourite team is playing and treat yo self to an extra slice of anticipation. Rather than merely treating online sports betting as an impulse, plan. And it will be money well spent, instead of waking up with regret and new money headache.

A myriad of choices.

The online world opens up an array of opportunities for consumers. No longer restricted by location, you can choose your favourite online betting site Australia and start hedging your bets!

Privacy.

Online sports betting also allows you to gamble in solitude, without the pressure of a busy environment. Whether you’re watching the footy with a couple of mates, or waiting patiently until 1 am to watch your favourite tennis player, you can bet in the privacy of your own home.

Foe

In the case of online sports betting, many of the positives can turn around and bite you in the bum. And here lies the greatest deceptive danger of online sports betting. Negatives can quickly be dressed up as positives. Here’s some below:

Convenience.

Yes, the comfort of gambling from your couch is convenient; however, it can also be problematic. With access to betting 24/7 wherever you may be, it can lead to compulsive gambling. If something is readily available for consumption (like that pack of sour worms sitting on the counter), the activity becomes harder to resist. This is particularly problematic for those gamblers who are already combating problems with betting.

Solitary.

Again, privacy, when you gamble, can be a positive, but it can quickly morph into a negative. Solitude when betting equals no accountability. Your mates don’t know how much you’re spending – no one has to know that you’re even betting! And then, the problem may be easier to ignore. Suddenly the odd bet on a Sunday arvo has turned into a secret that no one can monitor.

Transaction fees.

Online betting sites Australia don’t typically charge transaction fees. However, your bank may. So, keep a keen eye of your transactions to see how much of your betting fund is going to fees.

Glistening ads.

Online sports betting has led to an increase in betting ads. These ads generally encourage betting before and even during the game. High-resolution adverts give online betting a sense of legitimacy that is lacking from the likes of poker and roulette. And with Sportsbet partnering up with the NRL this season, it’s like harking back to the days of cigarette commercials.

A new generation of gamblers

Online sports betting has birthed a new generation of gamblers. With its accessibility and solitary nature, online sports betting has a tendency to turn a rare punter into a debt-ridden problem gambler. The train of online betting has well and truly left the station. The next step is to provide those who need help with support. If you struggle with gambling addiction, call the Gambling Help Line 1800 858 858 for assistance.

Friend or Foe?

Online betting is undoubtedly fun. It’s a way to support your favourite team or player and earn (or lose) a little extra on the side! However, it’s a wild beast that can too quickly get out of control and cause havoc. So, like most people, if you have an online betting app, just think before you open.

Let’s be friends

Student debt making you squeamish? Then discover all you need to know about the latest rise the HECS debt income threshold.

If there’s one thing we know, it’s personal loans, so if you’re looking for a loan, fill out our quick application for speedy cash when you need it.

Want more of Nifty Loans? Great! Follow us on Facebook, Instagram, Twitter and Google + and also keep up to date with the more personal finance and lifestyle trends via our blog.

How much cash do you want?
How long do you want it for?

Loans from $2100 to $4600 require a car, motorbike, boat or caravan to be provided as security. If you cannot provide security, please apply for $2000 or less.

Repayments

The Annual Percentage Rate for Secured Medium Loans is 48%. Comparison Rate is 66.0347% p.a. This comparison rate is based on a Medium Amount Credit Contract for an amount of $2,500 over 2 years and a $400 establishment fee. Fees and charges are payable.

The maximum you will be charged is a 20% Establishment Fee and a 4% Monthly Fee. Under the current legislation lenders do not charge an annual monthly interest rate for our Small Amount Credit Contracts. You may know this as Annual Percentage Rate or APR(%)