GAMBLING COSTS AUSTRIA 1.9 BILLION EURO
Published by MyBettingDeals
July 9, 2019 8:04 pm
In the alpine republic, more and more gamblers are playing today – most bets, however, do not generate winnings regardless of the game selected.
Who hasn’t dreamed of winning the lottery jackpot or getting rich by betting on slot machines? Throughout history, gambling of all kinds has always been very attractive, as it promises the chance to make a lot of money without a lot of work. Little has changed in this respect to this day, and you can read articles about lucky winners on the Internet again and again, which in turn ensure that even more people try to achieve such riches with their bets.
However, it should always be remembered that gambling providers always have a certain advantage. How high this advantage varies from game to game. However, this house advantage ensures that the operator wins in the long run – if this were not the case, a particular game would not be offered in the first place. On average, gamblers lose – in Austria alone, gambling providers generated revenues of more than EUR 1.9 billion in 2018.
Growth on the Internet
The sum of 1.9 billion euros sounds very high at first glance, but one should bear in mind that this amount includes all kinds of games of chance. In addition to classic casinos, this also includes lotteries such as the classic “6 out of 45” or the Euromillions. Gambling on the Internet has also developed into a very important part of the industry in recent years, with sales in 2018 rising significantly higher than the industry average.
Anyone who has ever had experience with a good online casino in Austria can certainly understand that. You can place your bets there from the comfort of your home or even from your smartphone. Also, the individual games can usually first be tested with a virtual credit balance and thus without any risk. Extensive bonuses and other promotions round off the offer of such portals.
Profit share is crucial
If you decide to bet on specific games, you should, of course, pay attention to the odds. This value indicates the percentage of all bets that will be returned to the players in the form of winnings. The value is particularly low in the very popular lotteries, where often only 50 per cent of the revenue is distributed in the form of winnings. With other games of chance, on the other hand, one can count on winnings much more frequently.
For example, the payout ratio for roulette is more than 90 per cent. Many slot machines in online casinos also achieve values of 90 per cent and more, while classic slot machines have significantly lower odds. Their abilities can also influence some classics from the casino. Those who follow a perfect strategy in Blackjack, for example, can look forward to very large chances of winning, since the odds are higher than in a purely random or intuitive game.
Breakdown of sales in Austria
Stationary gaming in casinos, betting offices and other locations are still particularly popular in Austria. In 2018, sales of more than EUR 830 million were generated there. Lotteries generated revenues of just over 700 million euros. The Internet only follows in third place, but the enormous growth rates there should soon ensure that the picture changes.
In 2018, sales of online games of chance in Austria amounted to around EUR 370 million, although there are always questions about the regulation of corresponding portals. In general, there are some aspects that players should pay attention to before placing their bets, including the license of a gambling operator and the experiences of other players, about whom you can usually find some information on the Internet today.