The gambling industry has seen steady growth over the past few years, with global revenue reaching an all-time high of $335 billion in 2017. The figure is expected to exceed $406 billion by 2020, according to a report by Allied Market Research.
This growth can be attributed to the increasing popularity of online gambling and the globalization of the gaming market. In 2017, the online gambling sector generated a revenue of $41.5 billion, accounting for 12% of the total gambling market. It is expected to grow at a CAGR of 10.5% from 2018 to 2025, reaching a value of $77.7 billion.
The growth of mobile gaming is also contributing to the overall growth of the gambling industry. In 2017, mobile devices accounted for 37% of total online gambling revenue, and this is expected to reach 45% by 2020. This is due to the increasing penetration of smartphones and the availability of wireless broadband services worldwide.
Regionally, Asia Pacific is currently the largest market for gambling, accounting for more than one-third (36%) of global revenue in 2017. The region is expected to maintain its dominant position during the forecast period, owing to the increasing number of gamers and rising disposable incomes in countries such as China and India. However, North America is expected to grow at the highest CAGR during 2018-2025, owing to stringent regulations against gambling in Europe and other developed regions.
The following are some key players in the global gambling market:
Las Vegas Sands (LVS) – Headquartered in Las Vegas, Nevada, LVS operates casinos in Macau, Singapore and Las Vegas. The company recorded a revenue of $11.9 billion in 2017 .
Wynn Resorts Ltd – Wynn Resorts Ltd., headquartered in Las Vegas, Nevada, owns and operates several resorts across Macau and Las Vegas Strip . The company recorded a revenue of $8.6 billion in 2017 .
Galaxy Entertainment Group Ltd – Galaxy Entertainment Group Ltd., headquartered in Hong Kong, operates casino resorts in Macau . The company recorded a revenue of $6.3 billion in 2017 .
A study by the consulting firm Global Betting and Gaming Consultants has found that Americans account for nearly half of global gambling spend.
The report, which was compiled using data from Nevada, Macau, and international markets, shows that US citizens accounted for 46 percent of all gambling expenditures in 2016. This is despite the fact that America only has around five percent of the world’s population.
The study also found that casino gaming is the most popular form of gambling, accounting for just over half of all global spending. Slot machines were found to be the most popular form of casino gaming, while sports betting ranked second.
It is not surprising that casino gaming is so popular given that it offers players the chance to win large sums of money. However, there is a growing trend towards esports betting, which is now estimated to account for $5 billion in bets each year. This is due to the fact that many popular esports games offer gamers the chance to bet on their matches.
With The legalization of online gambling in New Jersey in 2013, and additional states likely to follow suit in the near future, it seems likely that America will continue to dominate global gambling spend.
A study conducted by the Cambridge Centre for Economic and Public Policy has found that the world economy loses an estimated $400 billion a year due to gambling addiction. This is a significant amount of money, and it is important to understand how and why this addiction costs so much.
Gambling addiction can have a ripple effect on many aspects of people’s lives. It can lead to financial ruin, job loss, and even homelessness. In addition, addicts often turn to crime in order to get money to gamble with, which only serves to further damage the economy.
Addicts also tend to neglect their health and their relationships, both of which cost society more money in the long run. Gambling addiction is a serious problem that needs to be addressed head-on if we want to protect the world economy.
In a report compiled by H2 Gambling Capital, it was found that Asia is the world leader in gambling spending. In 2018, the region’s gambling expenditure totaled $115.9 billion, accounting for 45% of the global market. North America came in second place with a spending total of $57.5 billion, followed by Europe with $49.4 billion.
One of the factors contributing to Asia’s dominant position is the region’s large population. There are 4.5 billion people living in Asia, compared to just 378 million in North America and 743 million in Europe. This means that there is more opportunity for revenue growth in Asia as the industry expands.
Another reason for Asia’s strong performance is the prevalence of casino gambling in the region. Macau is a particularly important market, with casino revenue accounting for around two-thirds of all gaming revenue in the world. Casino gambling is also becoming increasingly popular in other countries such as Japan and South Korea, which is helping to drive up overall spending levels.
The future looks bright for the Asian gambling industry, with many countries set to legalize online betting and gaming in the coming years. This will provide further impetus for growth, as operators race to tap into this new market segment.
Australians gamble more than anyone else in the world, with around 80 per cent of the population indulging in some form of gambling each year. This high rate of gambling is reflected in the country’s casino industry, which is now the second-biggest in the world after Macau.
The main drivers of Australia’s gambling habit are pokies and horse racing. Pokies are particularly popular, with around 200,000 machines scattered across the country. Australians lose more money on pokies than any other nation, with an average loss of $1,150 per person each year.
Horse racing is also highly popular in Australia, with a total of A$14.5 billion gambled on races in 2016. This figure is higher than any other country, and makes up around 60 per cent of all wagers placed on horse racing worldwide.
While there are some who argue that gambling can be fun and harmless, there is evidence to suggest that it can be harmful to both individuals and society as a whole. Problem gambling can lead to financial problems, depression, addiction and even suicide. It can also have a negative impact on work productivity and family life.
There is no one solution to this problem, but there are steps that can be taken to reduce the amount of harm caused by gambling. These include banning pokies from certain areas, increasing regulation of the industry and providing support for those affected by problem gambling.