The culture of gambling is quite developed in Australia, which is proved by statistics relatively among other countries. Absolutely different age groups play here, the variety in the choice of games is also striking, and the amount of money that is in this business is striking separately. According to an annual report by Gambling Statistics Australia, last year Australians bought $2 billion worth of lottery tickets alone. If such statistics are easy to find and casinos are comfortable sharing them, what about winnings? How much money do we get back? Let’s find out in this Golden Reel Blog article.
How popular is the lottery in Australia?
According to statistics, 7 million Australians gamble one way or another. And as many as 76% of those players buy lottery tickets. Some do it weekly, as a small ritual, others buy them less frequently, timed to some special dates or birthdays. But in the end, one way or another, every player returns to buying a lottery ticket.
How much money does the average player win?
It is logical to assume that the percentage of lottery wins is minuscule. That's the point of the whole game, players make very small bets in the hope that among a million lucky people they will be the ones to pick up the coveted winnings. Do players spend more money than they eventually get? Of course they do. That's how casinos work and there's nothing to do with cheating. Of course businesses will make money, and if they didn't, this type of earning wouldn't exist at all. In the same lottery, it is often the number of players who buy tickets that determines the jackpot that will be drawn between them. This amount is not invented by the casino, and calculates a clear formula, where most of the money raised by selling tickets goes into the prize fund, and only a small percentage is left to the casino, which eventually gives a huge prize, but itself remains in the black. This is also the case with slot machines.
How much do Australians earn from slot machines?
As much as we would like to single out Australians as one of the most experienced nations in gambling, unfortunately, it is not affiliation to any particular country that determines the level of earnings. Moreover, it is safe to say that, as a percentage ratio, all the people in the world earn an average of the same percentage, relative to the amount invested. And in confirmation of the phrase "casino is always in the black, this percentage is less than 100%, but very close to it. Slot machines are arranged on the same principle as the lottery, with respect to the invested amount by all players, part of it comes back to the most fortunate. This indicator is called RTP. This is an algorithm, laid in advance in each slot machine, which determines what percentage of the money invested the machine will return the players back. Most often, this figure is close to 95-97%. That is, the casino eventually returns almost all the money back, being content with only a few percent of the amount. But, this situation looks different for the players. Consider an example where three players bet $1,000 each. Out of $3,000, with an RTP of 95%, the players will get $2,850 back. But, the first player can get $1,500, the second $1,200, and the last player only $150. Thus, two players were in the black, while the third player lost almost all the invested amount. This is how the slot machine works, in fact, distributing the money invested in it among the players, rather than using casino funds. From this you can even conclude that you are just competing with other players in luck, and the casino takes only a small percentage for giving the platform for the game.
Is gambling a problem for Australians?
According to statistics, only 1% of all gamblers in Australia have a gambling addiction problem, and 2% are in the appropriate risk category. Relative to the world figures, this percentage is very small, which once again proves the correct approach of Australian gamblers to the process of gambling. As such, they don't gamble excessively, gamble excessively, get into debt and gamble ill-advisedly. If you feel that you are losing control, it is strongly recommended to stop playing or go to the demo version of slot machines, where you do not risk your own money, and make bets in virtual currency.
How much money does the Australian Government make from gambling?
The income that the Australian government earns from taxes is one of the main reasons for other countries to think about legalizing this business. Without looking at each state separately, gambling revenue accounts for about 10% of the total revenue of the entire state, which is a huge amount. The state gets most of it from the slot machines. And it's great when Australians spend money within their own country, playing at local casinos and online casinos, because otherwise, if such activities were banned, they would still find opportunities to play online casinos through other countries, automatically sending that money there. And this way they get legitimate fun, along with adding to their own country's coffers. It's a story where everyone stays as a winner.