Best of the Week
Most Popular
1.Bitcoin War Begins – Bitcoin Cash Rises 50% While Bitcoin Drops $1,000 In 24 Hours - Jeff_Berwick
2.Fragile Stock Market Bull in a China Shop -James_Quinn
3.Sheffield Leafy Suburbs Tree Felling's Triggering House Prices CRASH! - Nadeem_Walayat
4.Bank of England Hikes UK Interest Rates 100%, Reversing BREXIT PANIC Cut! - Nadeem_Walayat
5.Government Finances and Gold - Cautionary Tale told in Four Charts - Michael_J_Kosares
6.Gold Stocks Winter Rally - Zeal_LLC
7.The Stock Market- From Here to Infinity? - Plunger
8.Ethereum (ETH/USD) – bullish breakout of large symmetrical triangle looks to be getting closer - MarketsToday
9.Electronic Gold: The Deep State’s Corrupt Threat to Human Prosperity and Freedom - Stewart_Dougherty
10.Finally, The Fall Of The House Of Saud - Jim_Willie_CB
Last 7 days
Approved Used Land Rover Main Dealer Real Customer Buying Guide - Hunters, Chester - 12th Dec 17
Gold Price 100% Bullish Signal - 12th Dec 17
Epic Stock Market & Fixed Income Bubble Will Not End Well - 12th Dec 17
Bitcoin can be stolen. Although Can’t be hacked - 11th Dec 17
Have Stocks Reached A Permanently Rigged Plateau? - 11th Dec 17
Trying To Beat The System Is A Fatally Flawed Investment Strategy - 11th Dec 17
Is This The Beginning Of The Next Silver Rush? - 11th Dec 17
The Dow Gold Ratio - 11th Dec 17
Evidence of a Stock Market Top Mounting - 10th Dec 17
Bitcoin Doesn’t Exist – Forks and Mad Max - 10th Dec 17
Bitcoin Doesn’t Exist – Putting the Banks Out of Business - 9th Dec 17
China’s Struggle for Market Economy Status - 9th Dec 17
Is Gold Really Strong? - 9th Dec 17
Bitcoin Parabolic Mania - 8th Dec 17
SPX Make a 61.8% Retracement - 8th Dec 17
Gold, Stocks and Bonds - The 3 Amigos Update - 8th Dec 17
Gold Stocks Break, Gold to Follow - 8th Dec 17
4 Charts That Show How Trump Tax Cuts Will Trigger A Recession - 8th Dec 17
Precious Metals Breaking Down! 3 Amigos to Abort? 4 Horsemen to Ride? - 7th Dec 17
Bitcoin Just Smashed Through $12k… Wait, $13k… Now $14k… This Is Getting Ridiculous! - 7th Dec 17
Stock Market Tops Look Like This - 7th Dec 17
Crude Oil, Oil Stocks and Invalidation of Breakouts - 7th Dec 17
Bitcoin Doesn’t Exist – 2 - 7th Dec 17
British Pound Sterling Volatility In Crucial Week of Brexit Talk - 6th Dec 17
Day Trading vs Swing Trading: Which One is the Better Strategy? - 6th Dec 17
Crude Oil and Negative Divergences - 6th Dec 17
EU Bailins Coming – 114 Italian Banks Have NP Loans Exceeding Tangible Assets - 6th Dec 17
Bitcoin Doesn’t Exist - 5th Dec 17
Advantages of Car Insurance to Protect a Vehicle - 5th Dec 17
How High Will Gold Go? - 5th Dec 17
The Loonie Takes Flight -- BUT a "Labor Miracle" is NOT the Reason Why - 5th Dec 17
The True Meaning of Bitcoin's 'Success' - 5th Dec 17
Gerald Celente: Middle East Wild Cards Could Bring Down Markets, Drive Up Gold - 5th Dec 17
Silver’s Positive Fundamentals Due To Strong Demand In Key Growth Industries - 4th Dec 17
Stock Market Positive Expectations, But Will S&P 500 Continue Higher? - 4th Dec 17
Bitcoin Achieved What The Gold Market Never Could & Never Will? - 4th Dec 17
Stock Market Top Distribution Starting - 4th Dec 17
Understanding Real Time Forex Trading - 4th Dec 17

Market Oracle FREE Newsletter

Traders Workshop

What are the Biggest Gambling Markets in the World?

Personal_Finance / Gambling Mar 30, 2017 - 04:51 PM GMT

By: Submissions

Personal_Finance

When you hear the word "gambling", Las Vegas may be the first destination that pops into your mind. However, you might be shocked to learn that while the United States is one of the world's largest gambling markets it's not the largest in every aspect of the industry.


In fact, in a recent article by The Economist, according to consultancy H2 Gambling Capital (H2G), the United States placed 5th in terms of its "Biggest gamblers, loss per resident adult, $" analysis. Believe it or not, but Australia is actually the gambling industry's most lucrative market in this regard. H2G reported that betting losses per resident adult in the country totaled to $990 in 2016, which is 40% higher than the runner-up country, Singapore. 

You might wonder why Australia tops the gambling market in this regard. The reason is that the most popular form of gaming in the nation is pokies, the Australia slang term for electronic poker machines, most notably slots. While slots are popular in other markets around the world -  as there are many online gaming websites accepting MasterCard or other form of payment to bet on these games -  the bet sizes for these games are typically capped at lower levels. In Australia, on the other hand, where the industry has been deregulated since the 1980's, gamblers can lose up to $1,150 an hour!

Still, the United States claims top spot for H2G's "Biggest loss by country, $bn" with punters' losses amounting to a whopping $117 billion last year. Moreover, many of the losses didn't even come from legal betting. An estimated $150 billion was wagered illegally on sports alone in 2016. However, in terms of money spent in gambling per person, Ireland and Finland reportedly dominate America due to their legal sports betting markets.

Another big gambling market is, of course, China, particularly Macau and Hong Kong. That being said, while the consultancy had initially expected China to surpass the US as the world's largest market in 2020, after the nation's government announced the anti-corruption campaign in China back in 2013, this stopped Chinese government officials from entertaining  in the casinos of Macau. This hurt the Chinese gambling industry profits, knocking them down by 20%. Since this crackdown on corruption, the market has had a hard time recovering.

Yet, not all Asian gambling markets are struggling. In contrast to China, Japan remains the world's third largest gambling market. While Japan has seen its yearly revenues steadily dropping since 2003, due to tight regulations, some clever firms have worked around these regulations without breaking the law. For instance, a popular game known as "pachinko", which is not unlike pinball, is able to avoid being classified as gambling because it awards "special prizes". However, winners of these prizes can trade them for cash at kiosks that are separate from the pachinko parlors.

With that in mind, however, in the future, Japan may become an even bigger player in the gambling market as a new law passed in December permits casinos in the country for the first time. 

Disclaimer: This is an paid advertorial. This is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any trading losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors before engaging in any investing and trading activities.


© 2005-2018 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

Catching a Falling Financial Knife