Betting on the Brownlow Medal tipped to reach $3.6 billion, second only to Melbourne Cup Carnival
Article by Rebeccah Elley
Betting on the Brownlow Medal is the fastest growing segment in the horse and sports betting industry and is predicted to reach revenue of $3.6 billion over the five years through 2014-15, topped only by wagers made during the Melbourne Cup Carnival, according to IBISWorld.
IBISWorld industry analyst David Whytcross described the 2014 Brownlow Medal, awarded to the fairest and best player, as the most “prestigious” individual honour in the AFL, which was won last night by West Coast midfielder Matt Priddis.
IBISWorld said the Brownlow Medal is “highly attractive” as punters can make an educated guess based on what has occurred throughout the AFL season, rather than uncertain future events.
“Australians are increasingly betting on the outcome of such events, with spending on sports betting forecast to rise to $425 million this year,” said Whytcross.
The research indicated the primary growth drivers for betting on the Brownlow Medal were a greater range of products, new technology and new agencies.
Whytcross explained websites and smartphone apps are “reaching consumers that would not often venture to their local TAB retail outlet, and who have more of an affinity to sports than horseracing.”
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