Best of the Week
Most Popular
1.The Brexit War! EU Fearing Collapse Set to Stoke Scottish Independence Proxy War - Nadeem_Walayat
2.London Terror Attack Red Herring, Real Issue is Age of Reason vs Religion - Nadeem_Walayat
3.The BrExit War, Game Theory Strategy for What UK Should Do to Win - Nadeem_Walayat
4.Goldman Sachs Backing A Copper Boom In 2017 - OilPrice_Com
5.Trump to Fire 50 US Cruise Missiles To Erase Syrian Chemical Attack Air Base, China Next? - Nadeem_Walayat
6.US Stock Market Consolidation Time - Rambus_Chartology
7.Stock Market Investors Stupid is as Stupid Goes - James_Quinn
8.Gold in Fed Interest Rate Hike Cycles- Zeal_LLC
9.The BrExit War - Britain Intelligence Super Power Covert War With the EU - Nadeem_Walayat
10.Marc Faber: Euro to Strengthen, Dollar to Weaken, Gold and Emerging Markets to Outperform - MoneyMetals
Last 7 days
What A War With North Korea Would Look Like - 25th Apr 17
Pensions Are On The Way Out But Retirement Funds Are Not Working Either - 25th Apr 17
Frank Holmes : Gold Could Hit $1,500 in 2017 Amid Imbalances & Weak Supply - 25th Apr 17
3 Reasons Why “Spring Forward, Fall Back” Also Applies To Gold - 25th Apr 17
SPX may be Aiming at the Cycle Top Resistance - 25th Apr 17
Walmart Stock Extending Higher - Elliott Wave Trend Forecast - 25th Apr 17
Google Panics and KILLS YouTube to Appease Mainstream Media and Corporate Advertisers - 25th Apr 17
Gold Price Is 1% Shy of Ripping Higher - 25th Apr 17
Exchange-Traded Funds Make Decisions Easy - 25th Apr 17
Trump Is Among The Institutionally Weakest National Leaders In The World - 25th Apr 17
3 Maps That Explain the Geopolitics of Nuclear Weapons - 25th Apr 17
Risk on Stock Market French Election Euphoria - 24th Apr 17
Fear Campaign Against Americans Continues Nuclear Attack Drills in New York City - 24th Apr 17
Is the Stock Market Bounce Over? - 24th Apr 17
This Could Be One Of the Biggest Winners Of The Electric Car Boom - 24th Apr 17
Le Pen Shifts Political Landscape- The Rise of New French Gaullism  - 24th Apr 17
IMF Says Austerity Is Over - Surplus or Stimulus - 24th Apr 17
EURUSD at a Critical Point in Wave Structure - 23rd Apr 17
Stock Market Grand Super Cycle Overview While SPX Correction Continues - 23rd Apr 17
Robert Prechter Talks About Elliott Waves and His New Book - 23rd Apr 17
Le Pen, Melenchon French Election Stock, Bond and Euro Markets Crash - 22nd Apr 17
Why You Are Not An Investor - 22nd Apr 17
Gold Price Upleg Momentum Building - 22nd Apr 17
Why Now Gold and Silver Precious Metals? - 22nd Apr 17
4 Maps That Signal Central Asia Is at Risk of War - 22nd Apr 17
5 Key Steps For A Comfortable Retirement From Former Wall Street Trader - 22nd Apr 17
Can Marine Le Pen Win? French Presidential Election Forecast 2017 - 21st Apr 17
Why Stock Market Investors May Soon Be In For A Rude Awakening - 21st Apr 17
Median US Household’s Wealth Has Declined by 40% Since 2007 - 21st Apr 17
Silver, Platinum and Palladium as Investments – Research Shows Diversification Benefit - 21st Apr 17
U.S. Stock Market and Gold, Post Tomahawks and MOAB - 21st Apr 17
An In Depth Look at the Precious Metals Complex - 20th Apr 17
The Real Story of China’s Strong First-Quarter Growth - 20th Apr 17
3 Types Of Life-Changing Crisis That Make You Wish You Had Some Gold - 20th Apr 17
The Truth is a Dangerous Thing - 20th Apr 17
2 Choke Points That Threaten Oil Trade Between Persian Gulf And East Asia - 20th Apr 17
Gold’s Next Downside Target Is Around $700… Even if It Breaks Up First - 19th Apr 17
SPX May be Completing its Corrective Pattern - 19th Apr 17
Silver Production Has “Huge Decline” In 2nd Largest Producer Peru - 19th Apr 17
Soothing East Asia's Nerves as Trump's Administration Reaffirms US Power in Asia-Pacific - 19th Apr 17
The Brexit War - Article 50 Triggered, General Election 2017 Called - Let the Games Begin! - 19th Apr 17

Market Oracle FREE Newsletter

Why 95% of Traders Fail

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. 

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.


© 2005-2016 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