Publication date: 20 Dec 2022
Gambling is one of the biggest economic sectors in many countries around the world. Over the past few decades, the commercial casino industry has experienced significant growth. This is due to the licensing of this activity, which has allowed many companies to enter new markets and generate record revenues.
According to experts, the casino and online gambling industry worldwide will reach a total of $231 billion in 2021. Online gambling alone is likely to exceed $114 billion by the end of this decade, with a compound annual growth rate of approximately 11%.
In December 2022, InsiderMonkey ranked the 15 countries that were the biggest players in the global gambling industry at the end of the year. Countries are ranked according to total gambling winnings in each country (Gross Gaming Revenue), data provided by H2 Gambling Capital.
The biggest gambling countries in the world: starting development!
- Netherlands: Gross Gaming Revenue: $3 billion
The Netherlands is steadily becoming one of the largest gambling countries in the world. Gambling in the Netherlands is regulated by the KSA. The regulator enforces a law from 1964. The country has a rich history in the world of betting. One of the oldest lotteries in the world, the Staatsloterij, has been held in the country since 1726.
Now the state is working to create flexible legislation with full attention on the internet gambling sector. Officials wish to achieve higher tax revenues from local and international operators. The largest gambling company in the Netherlands is the Holland Casino, but its popularity has declined in recent years. This is because the focus of players has shifted to online gambling. Other popular casinos include Harlemmermeerse Bos, Holland Casino Valkenburg, Holland Casino Venlo and Gran Casino Tiel.
- Russia: $4 billion
Online gambling is banned in the country, but the land-based gambling market has flourished since 1987. Some of the well-known land-based gambling establishments in Russia are Casino Sochi, Shambhala Casino, Sobranie Casino, ltai Palace Casino, as well as Crystal and Tigre De Cristal Resort & Casino. These casinos are located in several regions where the government has allowed gambling. Russia is attracting tourists and locals to take part in these gambling activities since these casinos are among the best in Europe and offer players a wide range of games. Who plays online casinos in Russia?
- Philippines: $5 Billion
Over the years, the Philippines has become one of the top tourist destinations for gambling. The gambling sector is regulated by the Philippine Amusement and Gaming Corporation (PAGCOR), which is the country’s government agency. There are more than 50 casinos in the country, both private and public. The most popular are Resorts World and City of Dreams. Games such as Sabong and e-Sabong continue to generate $1 billion in revenue each year for the gambling companies.
- Singapore: $6 billion
Singapore Pools is a state-sponsored lottery founded in 1968. The company was also allowed to accept sports betting. This has led to an increase in government revenue, followed by even more favorable gambling laws. The Singapore government recently issued two casino licenses to Resorts World Sentosa and Marina Bay Sands. The latter, popular as a resort for multimillionaires, has over 2,500 slot machines.
- Spain: $10 billion
The country legalized gambling in 1981 although it has been popular as a sport for centuries. It is estimated that almost 80% of adults in the country play the popular Christmas lottery called El Gordo, which generates almost $1 billion each year. Major international sporting events such as the Spanish Grand Prix and the Mutua Madrid Open attract crowds of sports bettors. There is also the traditional bullfighting event held here every year, making the country even more famous in the gambling and betting markets.
Where to make money in gambling and betting: a stable middle ground
- South Korea: $11 billion
In South Korea, gambling and betting remains a risky enterprise in the country due to strict legislation. However, in recent years, the country’s authorities have made an easing for land-based gambling establishments for tourists and foreign residents. Popular land-based casinos include Seven Luck Casino Gangbuk, Paradise City Casino, Seven Luck Casino Busan Lotte and Majestar Casino Jeju Island.
- France: $13 billion
The country’s gambling laws are some of the softest in Europe. France has over 300 casinos, making it one of the leading gambling countries in the world. The country hosts major sporting events such as the French Open, Tour de France and Six Nations Championship, which help to develop the sports betting industry. France also hosts high-profile horse races such as the Chantilly.
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- Canada: $14 billion
One of the reasons why the gambling industry thrives in Canada is because of its stable economy. The country is considered one of the best places to live with a high quality of life. According to surveys, 75% of Canadian adults have gambled at least once in their lives. Here, lottery tickets come with Christmas presents! Canadians also have an affinity for American sports such as ice hockey, which has led to an increase in sports betting in the country. Some other winter sports, such as cross-country skiing and snowboarding tournaments, also play an important role.
- Germany: $16 billion
Germany has recently liberalised German Gaming Law (GGL). The changes mean that private gambling operators have been allowed to offer their services on the German market, but through proper licensing. There are more than 400 gambling establishments in the country. The largest casinos are located in Berlin, Baden-Baden, Hamburg, Konstanz and Duisburg. Online sports betting and online gambling are also on the rise in the country. The favorite game at German casinos is poker (Omaha, Texas Hold’em and Seven-card stud).
- Australia: $18 billion
Australia is one of the fastest growing economies in the world. Stability and a high standard of living have made it possible for gamblers to spend their money on gambling. The most popular gambling region is New South Wales, which also has the largest number of casinos. Slots and poker are the most popular games among Australians.
The TOP-5 richest gambling markets in the world
- UK: $19 billion
The UK gambling industry is booming after the global pandemic. This year the industry has achieved higher revenues not only from gambling, but also from online gambling, sports betting and gaming. The UK is home to some of the best casinos in the world, such as Aspers Casino, Villento Casino, Manchester235, Hippodrome Casino, UK Casino Club, Grand Mondial and MagicRed Casino. According to the UK Gambling Commission, both remote and online betting represented the largest sectors of the market in 2021, with total betting representing 52.3% of the total market.
- Italy: $20 billion
Italy loosened its gambling laws in 2008 and since then the gambling industry has been growing strongly. Milan and Venice are the biggest gambling centers with over 15 casinos. Apart from gambling, Italy is one of the leading markets for sports betting thanks to football tournaments and the Rome Masters tennis tournament.
- Japan: $50 billion
In Japan, most forms of gambling are banned under Chapter 23 of the country’s Criminal Code. An exception is made only for sports betting and horse racing. Cash prizes in gambling are banned in the country, therefore winnings are sold in the form of cigarettes, candy bars, pencils, lighters, etc. One of the most popular games is Pachinko.
- China: $70 billion
Despite the fact that China is one of the top five gambling markets in the world, the government does not allow gambling which is considered illegal. However, games such as mahjong, card games and online gambling, all of which involve gambling of one kind or another, have become hugely significant in local culture.
- United States of America: $119 billion
The USA is the leading country in the world with the highest gross winnings each year. The country is the world’s center of sports, hosting the NBA Finals, the NFL Super Bowl and Major League Baseball. The U.S. Supreme Court has recently legalized sports betting in 50 states. The world’s major casinos are in the United States, especially Las Vegas, which is the world’s gambling hub. Popular casinos include Cosmopolitan, Foxwoods, Thunder Valley Casino Resort Lincoln, Mohegan Sun Casino Uncasville, WinStar World Casino Resort Thackerville and Borgata Hotel Casino.
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