According to a new data analysis of National Australia Bank (NAB), Australian residents have spent а significant part of their time and money on gambling during the coronavirus pandemic lockdown. The economics team of NAB has analysed internal bank data covering customer spending and payments carried out to merchants during the Covid-19 lockdown shows that Australians’ expenditure on gambling is 50.7% higher since the one registered at the beginning of 2020.
No other sub-groups spending tracked by the NAB has shown such a massive rise in consumer spending like the one during the social isolation period when many Australians were stuck at home. The analysts revealed that gambling expenditure in the country rose by 62.2% over the past year. There were other areas where significant growth in expenditure was registered, such as Internet publishing and broadcasting, which rose by 43.2% since the beginning of the year but gambling spending remains unbeaten.
Recently, another research, carried out by AlphaBeta, showed that time and money spent by Australian residents increased by 67% over the first week of April. The findings were even more sensational, considering the fact there have been literally no sporting events to bet on during the coronavirus shutdown. Logically, most of these expenditure has been on casino-type games offered online.
Anti-Gambling Campaigners Worried That Gambling Addiction Rates Would Rise, Too
As Casino Guardian has previously reported, the recent increase of online gambling engagement and expenditure represents the largest boosts that any sector of the Australian economy has seen so far. Considering the fact there was a 5% decline in overall consumer spending, it is even more obvious just how popular online gambling has become during the coronavirus pandemic lockdown.
The fact that retail gambling services ceased operation after the nationwide closures as part of the social distancing measures unveiled by the Federal Government and there was literally no sports to bet on during the lockdown, Australian customers’ engagement was mainly with online casinos. Currently, virtual casinos offer a great variety of games people can bet on, with traditional games such as blackjack and roulette, as well as online pokies, being the most popular ones.
The rise in online gambling was found alarming by some experts, especially when combined with increased alcohol sales at a time when people are socially isolated and many of them face financial pressure. According to specialists, the increase in online gambling participation and spending was due to the fact that many players found it liberating at times when they were forced to stay home, while many of them felt anxious for their financial state and unknown future.
Australian people also seem to be turning to free mobile games the effects of which was found to resemble the ones of infamous poler machines very much. Some anti-gambling campaigners have shared that the lengthy social isolation could end up with an increase in gambling addiction rates, too.
- Author
Daniel Williams
