There is no doubt that the gambling industry is in a healthy state; when you take into account global figures. According to Statista, the industry is anticipated to be worth an impressive 94 billion U.S. dollars a year by 2024.
It’s interesting to take a closer look at this story by examining the situation in different countries. Here is a brief examination of online gambling in five very different nations.
Most adults in Finland have gambled at some point; even if only to purchase a lottery ticket. Three main companies have overall control over gambling sectors in the country; RAY for slot machines, Fintoto for horse racing, and Veikkaus for the lottery.
The system seems to work as Fins search lists of the latest casinos or nettikasinot 2020 as they would say in the Finnish language. This enthusiasm has led to a consistent 10% growth in the gambling industry in the country, each year since 2016.
United Kingdom (UK)
The gross gambling yield from UK gambling increased from around £8.4 billion in 2011 to around £14.4 billion in 2018. If this was not enough evidence of the popularity of online gambling in the country, it’s also interesting to note that there are around 31 million online gambling accounts.
The industry is regulated. Any online casino that wants to operate legally in the UK must be licensed by the UK Gambling Commission.
United States of America (US)
Overall, the gambling industry in the US contributes around $137.5 billion to the economy and employs around 730 thousand people.
The legality of online gambling is dictated on a state-by-state basis in the US. For instance, in New Jersey, people can legally play online slot machines and other online casino games. The same applies to Pennsylvania and Delaware. Of course, this does not mean that people do not play at offshore casinos in other states.
Some other states also legally permit certain forms of online gambling. For instance, online sports betting is permitted in Indiana, West Virginia, Iowa, New Hampshire, Nevada, Oregon, Rhode Island, Montana, and Colorado.
Traditionally, gambling that involves games of chance is not permitted in India. The only states where gambling is legal are Goa, Daman, and Sikkim. Goa, in particular, is home to several land-based casinos.
However, the situation regarding online casinos is more complex. The Public Gaming Act of 1867, which controls gambling, was created long before the Internet existed. This has created a grey area around the legality of online gambling. A great many Indians spend money at offshore online casinos. This can be seen by the fact that around Rs 3 lakh crore, in the local currency, is spent each year, at bookies and on websites.
The government of China is anti-gambling. It’s illegal to spend money on gambling either online or offline on the mainland. The situation is slightly different in Hong Kong and Macau which are both considered to be “special administrative regions”.
In both of these regions, certain forms of gambling are permitted. Although, there is still no law that specifically permits online gambling in either Hong Kong or Macau.
Despite all of this, it appears that many Chinese people still spend money gambling online. This can be seen from the fact that around one trillion yuan, in the local currency, is spent at online casino sites by people on the mainland each year. This equates to around US$145 billion and is almost twice as much as is spent on the official state lottery.
The health of the global online gambling industry seems set to continue, due to the ongoing popularity of gambling in individual countries across the world.
Taking a look at this small cross-section of countries helps to confirm that this is the case. Even in countries where gambling is illegal, or where the situation is not made clear by regulation, huge amounts of money are being spent each year.
This is good news for an industry which wants to keep attracting new players. It can invest some of its profits in improving the player experience, to help it achieve its goals.