Sports betting is a popular activity people are involved in worldwide. It involves predicting the outcome of any sporting or athletic event and placing a bet on the outcome. If you predict correctly, you could win huge amounts of money.
Sports betting started with betting on horses, and this continues today as well in Australia. The Melbourne Cup is the premier horseracing event held in Australia. It started in 1861 and has continued ever since. It takes place on the first Tuesday of every November.
Occasional bettors are attracted to this event along with experienced sports bettors. But sports betting in Australia is a lucrative industry, and there’s more to know.
Laws, Rules, and Regulations
Sports betting and gambling are always looked down upon by society. Australians look at it as an activity to pass the time, rather than a job or career. Gambling or sports betting is not illegal in Australia. Australia is an appealing place for sports bettors as any profits they make from sports betting are not taxed by the Australian government. Gains from betting or gambling are not considered as income in Australia.
However, Australian bookmakers and online sportsbooks are supposed to pay tax. The taxation system differs from state to state.
Expansion of Online Sports Betting in Australia
Sports betting was banned in Australia until 1980. This didn’t prevent Australians from continuing to indulge in all sorts of betting and gambling. Horse racing events continued as visitors would come and bet illegally.
Now, the Australian sports betting industry has expanded and is worth billions. It is ever-expanding, especially in this era of online sports betting.
How Can You Place Bets?
In this technological era, various sportsbooks are now online. Most sports betting activities take place remotely, and these online sites facilitate sports betting activities as well as gambling for non-sporting events.
Punters have access to various sites with a range of bets. These online sites accept the odds and make their own odds as well. If you’re looking for online Australian sports betting websites, check out Betting Sites Ranking. At Betting sites ranking, we have a range of online betting sites for tennis, basketball, hockey, football, and cricket from 100 countries around the world. These sites offer fast and safe payment methods. You can check out the top 10 betting sites in the world and the best country for betting on our website.
Check out how you can bet today!