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Sports Betting Growing in Australia5 July 2002AUSTRALIA – As reported by the (Australia) Age: "Sports betting is the fastest-growing segment of the wagering business in Australia, helped along most recently by a gambling spree on soccer's World Cup. "Tabcorp says sports betting - excluding the money it takes on horse racing - is now approaching $100 million (US$55.6 million) a year, with most bets being on the AFL. "The World Cup was the latest outlet for sports-mad punters. "Tabcorp says it took $17.5 million (US$9.7 million) in bets during the tournament - more than double its estimates - and Centrebet is believed to have been flooded with about $15 million (US$8.3 million) in World Cup wagering. "…In the past two days, two smaller listed companies specialising in sports betting have announced major leaps in revenue. "Canbet, a Canberra-based gambling outfit, yesterday said its turnover had doubled in the past financial year compared with 2000-01. "On Wednesday, meanwhile, IASbet announced it had enjoyed a buoyant 12 months and had made an unaudited pre-tax profit exceeding $7 million (US$3.8 million)for the year. "…The range of betting options in AFL today would have been unheard of even a few years ago. Apart from the outcomes of games, there are opportunities to bet on who will kick the first goal or will have the most possessions and most tackles. "This new form of gambling sometimes offers very lucrative returns…" |