Foreword｜Money88
When it comes to casinos and gambling, the gorgeous images of Las Vegas immediately come to mind. However, contrary to popular belief, gambling is not as popular in the United States as it is in some other countries around the world. In fact, some of the least suspicious countries are among the biggest gamblers.
Which countries spend the most on gambling｜Money88
Australians gamble (and lose) more per capita than any other country, according to WorldAtlas. While much of that money is spent on video poker machines, tighter regulation in recent years has caused the country to drop to sixth place in absolute spending.
While Finns seem to prefer interactive games, Singaporeans prefer casino gambling. (Macau does not appear in the rankings because almost all gambling revenue comes from tourists, most of them from mainland China.)
During that period, China jumped from the tenth largest market to the second largest, with losses totaling $76 billion. In the future, according to H2GC’s Simon Holliday, China will surpass all other markets in size.
How much Americans spend on gambling each year｜Money88
While the U.S. remains the world’s largest market, its market share has fallen from nearly a third to a quarter over the past decade. This is partly due to restrictions on most interactive games (sports betting and other games played on mobile phones or computers)
U.S. consumers will spend $147 billion on gambling-related activities in 2021, significantly higher than in 2019 and 2020. Retail commercial casinos, retail tribal casinos and retail lotteries accounted for the majority of spending, each at 31%. When retail and internet are combined, casinos top the list with 62%, followed by lotteries.
According to the study, total online gaming revenues accounted for 7 percent of the industry, up from 5 percent the previous year. When comparing market growth rates, online sports betting tops the charts, followed by online casinos and poker.
Pennsylvania is new to the rapidly expanding online gaming market in the U.S., but it has been setting records since legalizing online gaming.
Gambling addiction on the rise globally｜Money88
We now recognize that gambling addiction is a mental health problem and those who deal with it are not weak. Similar to how someone might struggle with alcohol addiction, they struggle with gambling. One may be drinking too much, the other may be spending too much money on gambling, and they are both battling drug addiction. Addiction is a form of mental problem that can be recognized and treated by specialists.
Society needs to help individuals who are struggling to get the support they need, as gambling addiction is a condition that can be diagnosed and treated. The possibilities for solving this problem are expanding, and each year it becomes easier to help people with this problem.
All in all｜Money88
Having said that, we need to talk about the importance of game industry regulation, they are safer, more profitable and thus contribute more to local governments.
When determining the importance of regulating online gaming, customer protection comes first. Most jurisdictions require casino operators to offer players the option to forfeit access to their casino accounts within a certain period of time. Local governments also keep tabs on player activity to see if individuals within their jurisdiction have online gambling problems.
Gamers can keep their financial and personal data safe while enjoying online gaming in a regulated market. Complying online casino companies have a higher chance of success because they can build trust with players.
