The gambling sector is worth approximately $500 billion and is arguably one of the biggest industries in the world. With new legislation being passed by countries across the globe to make gambling legal as well as the increase in money being spent on marketing, we could see even more territories capitalize on what has become a global force.
Online gambling plays a huge factor on this scene, while a big increase in new slot sites and acquisition activities in recent years have helped in creating strong alliances with a view to driving businesses in new regions.
Let’s take a look at the top gambling countries across the globe.
The island nation of Singapore only opened its first casino in 2010 but ever since then, it has become one of the largest gambling countries across the globe. The opening of casinos in the country created worries among the citizens of Singapore, with the majority of them fearing addiction and losses. Now, the government is trying to discourage local gambling by imposing an entry fee of $81 for locals who wish to gamble at the casinos. Also, families are allowed to ban their family members from visiting the casinos under the “Family Exclusion Orders.”
However, these measures have done little to restrict gambling enthusiasts in the country. According to a recent study, over half of the nation participated in gambling in 2017, with recorded losses of $1,174 per adult during the same year.
A country which shares its love for animals, especially horses and greyhounds with a flutter, has seen Ireland become one of the biggest gambling nations across the globe, particularly for horse racing.
The gambling industry in Ireland is completely unregulated because the country depends on the old Gaming and Lottery Act of 1956. According to the Act, only registered members’ clubs are allowed to offer gambling services. Bets on gaming machines are allowed up to 6 pence, while the gaming rewards are not allowed beyond 10 shillings. However, the enforcement of the law cannot be done since the Irish pound has not been in use as a legal currency since 1999.
According to H2G, the Irish spent more than $550 per adult on gambling every year, with lotteries also as a popular activity.
According to a recent study, over 75% of Canadian adults have been involved in at least one form of gambling. The highest numbers of gamblers in Canada come from Saskatchewan, which has gambling revenue of $841 per person above the age of 18 years. Lottery and scratch and win are the popular gambling games in the country, and their popularity has led to the government setting up initiatives to discourage the offering of lottery tickets to minors as gifts.
With 50 casinos nationally, the gambling industry in Canada generates a modest $13 billion for the economy, with every gambling spending an average of $570 annually.
According to the Ministry of Social Affairs and Health, over 41% of the population in Finland gambles weekly. The minimum gambling age in the country was raised to 18 in 2011 from 15 in the previous years in an effort to restrict gambling among children.
It’s said that anyone who spends more than $120 on gambling has a gambling addiction and as such, the government of Finland provides them with free counselling. Finish gamblers lose an average of $533 per adult.
China has been associated with gambling for centuries and the current pinnacle is the gambling phenomenon of Macau. The hotspot of Macau has long surpassed Las Vegas as the world’s casino capital, with revenues from gambling exceeding the entire state of Nevada. On the mainland, gambling in the country is a tricky subject.
State lotteries are legal in China, but virtually everything else is not. However, this has had little effect on Chinese gamblers as they turn to the online world to gamble. In fact, it’s estimated that online gambling on the mainland is worth over one trillion yuan – twice as much as that of sanctioned lotteries.
Europe is one of the world’s gambling hotspots with Malta, Cyprus, Channel Islands and Gibraltar as the base for the top gaming companies. Out of all European countries, the UK is the most enthusiastic gambling nation.
In terms of the number of active gamblers, the United Kingdom is number one, according to Mark D. Griffiths, who is an expert in the field of gambling research. The combined nations of England, Northern Ireland, Scotland and Wales have the highest percentage of gamblers under the age of 21, who account for 65% of all active participants in the country.