Online wagering apps put squeeze on retail betting outlets

Online wagering apps put squeeze on retail betting outlets

Digital wagering continues to grow in Australia, eating into retail betting outlet revenues as punters increasingly turn to online apps to place a bet.

Matt Ryan, analyst at UBS, said the investment bank had estimated that the digital wagering channel in Australia grew turnover by 23 per cent in the first half of 2017. That figure saw digital, for the first time, account for more than two thirds of wagering turnover.

“The structural shift in betting continues with retail turnover declining 6 per cent in the first half of 2017,” Mr Ryan said.

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