Gambling is a booming industry, helping economies worldwide, but how much do you know about its statistics? Are you updated with the different gambling trends or aware of any surprising facts?
If you want to know more, or want to get acclimated with the gambling industry, read along.
The Global Statistics of the Gambling Industry
According to Ask Gamblers, gambling, particularly online, is a multi-billion dollar industry that continues to grow year-by-year.
H2 Gambling Capital confirmed that the global online gambling market had a value of $45.8 billion in 2018. In 2019, the market value jumped by more than $1 billion, or $46.96 billion.
The industry grew in size three years later despite the Covid-19 pandemic. According to Grand View Research, the online gambling industry is now capped at $65.53 billion.
Meanwhile, the brick-and-mortar gambling industry was valued at $450 billion in 2018, said H2 Gambling Capital. It even reached $481 billion in 2020.
However, due to the rise of online gambling, the physical casino market saw huge dip in 2022. The Business Research Company revealed that from $481 billion, it went down to $449.04 billion.
But while the statistics may surprise you, the following facts will make your jaw drop even wider.
Total Casinos In the US
Statista revealed that in 2021, the United States saw the gambling industry booming. 466 commercial casinos operate in all the nation’s corners, including 515 tribal gambling houses.
Total Number of Visitors in Las Vegas
Back in 2021, Las Vegas casinos saw 32.2 million visitors, even if there was still a threat of Covid-19. It increased even further when Travel Weekly posted that 38.8 million have visited Sin City in 2022, or at least 20.5% more than the previous year.
Of those visitors, 73% were there to gamble.
Revenue of Las Vegas in Eight Months
The Nevada Gaming Commission revealed that in just eight months, from January to September of 2022, Las Vegas was able to accumulate $10.6 million in revenues from land-based casinos alone.
These are some of the most interesting facts about gambling. But wait, there’s more:
Amount of Gamblers in Some Countries
The gambling industry can have different statistics, depending on countries. The stats are affected by the cultural and social norms of the country, including legal and regulatory frameworks and the availability and accessibility of gambling.
In 2021, the gross gaming revenue (GGR) in the United States has reached $53 billion. The revenue increased in 2022, according to Statista, with the US recording a $60.42 billion GGR.
There was an annual low in Macau’s gaming revenue last year, only posting $5.24 billion—50% lower than how much it earned in 2021, which is $10.83 billion.
The United Kingdom, the largest regulated online gambling market in the world, was able to accumulate $12.5 billion in 2021. It jumped in 2022, recording a whopping $17.33 billion GGR.
Although gambling is illegal, the Italian government allows sports betting, lotteries, and some gambling activities, which led to their GGR seeing revenue of a humungous $137.41 billion in 2021.
However, it saw a decline the following year. It only reached $134.31 billion in 2022. Still, Italy has the highest GGR among other countries.
In conclusion, the gambling industry is a major contributor to the global economy, with a wide range of gaming activities generating billions of dollars in revenue each year. The industry has continued to grow and evolve with the advent of new technologies, making gambling more accessible and convenient than ever before.
However, it is important to remember that gambling can also have negative impacts, such as addiction and financial hardship. As such, it is crucial for individuals to gamble responsibly and for the industry to prioritize responsible gaming practices.
By staying informed about the latest gambling industry statistics and trends, we can better understand the impact of gambling on society and work towards creating a safer and more sustainable industry for all.