The Ever-Expanding Thrill of Gambling: A Global Powerhouse

The gambling industry has become a titan of economic activity across numerous countries worldwide. Over the past few decades, we’ve witnessed the commercial casino sector explode in growth. This surge is largely attributable to the legalization and licensing of gambling activities, a strategic move that has allowed multitudes of companies to penetrate new markets and smash revenue records.

Industry experts have crunched the numbers and in 2021, the worldwide market value for casinos and the online gambling sector hit a staggering total of $231 billion. It’s predicted that, by the time we close the chapter on this decade, the market size for solely online gambling pursuits will breach the $114 billion mark, with an estimated compound annual growth rate hovering around 11%.

In December of 2022, the analytical minds at InsiderMonkey crafted a leaderboard featuring 15 countries that have emerged as colossal players in the global gambling industry. The ranking is based on the total gambling winnings per country, otherwise known as Gross Gaming Revenue (GGR), with data supplied by the esteemed H2 Gambling Capital.

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15. Netherlands: Total gambling winnings: $3 billion

The Netherlands is steadfastly climbing the ranks to become one of the top gambling nations in the world. The Dutch Gaming Authority, KSA, governs the industry, ensuring adherence to the 1964 gambling law. This country doesn’t just play the game; it’s part of its heritage, with one of the world’s oldest lotteries, Staatsloterij, dating back to 1726. Now, the state is crafting more flexible regulations, with a keen eye on the online gaming sector, aiming at reaping higher tax benefits from both local and international operators. The largest gambling outfit in the Netherlands, Holland Casino, has seen a dip in popularity as player focus shifts towards online gaming platforms. Other notable establishments include Harlemmermeerse Bos, Holland Casino Valkenburg, Holland Casino Venlo, and Gran Casino Tiel.

14. Russia: $4 billion

While online gambling remains off-limits in Russia, the land-based gambling market has thrived since 1987. Renowned gambling houses like Casino Sochi, Shambala, Sobranie, ltai Palace, and the Crystal and Tigre De Cristal Resort & Casino stand as beacons of entertainment. Strategically located in government-sanctioned gambling regions, these casinos have become magnets for both tourists and locals, boasting some of the finest European gaming experiences with a plethora of games on offer. Curious about who’s navigating the online casino landscape in Russia? Discover more here.

13. Philippines: $5 billion

The Philippines has become a prime gambling tourism hotspot in recent years. The Philippine Amusement and Gaming Corporation, a state-run entity, regulates the industry. With over 50 casinos, both private and state-owned, the country’s gaming scene is vibrant. Resorts World and City of Dreams stand out as the cream of the crop. Traditional games like Sabong and e-Sabong continue to rake in roughly $1 billion annually for the gaming companies.

12. Singapore: $6 billion

The state-sponsored lottery, Singapore Pools, was established back in 1968 and later granted permission to accept sports bets, significantly boosting government revenue. Consequently, the government implemented even more favorable gambling laws. Recently, Singapore awarded casino licenses to Resorts World Sentosa and Marina Bay Sands—the latter, a playground for multimillionaires, hosts over 2,500 slot machines.

11. Spain: $10 billion

Spain gave a nod to legalized gambling in 1981, though it has been a popular pastime for centuries. Astonishingly, nearly 80% of the adult population engages in the celebrated Christmas lottery, El Gordo, which funnels in close to $1 billion each year. Major international sporting events like the Spanish Grand Prix and Madrid Masters draw throngs of sports betting enthusiasts. Not to be overlooked is the annual bullfighting tradition—corrida—which further cements Spain’s reputation in the gambling and betting markets year after year.

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10. South Korea: $11 billion

South Korea’s tryst with gambling and betting remains tinged with caution due to stringent laws. However, recent relaxations have favored land-based casinos catering to tourists and foreign residents. Iconic establishments like the Seven Luck Casino Gangbuk, Paradise City Casino, and Majestar Casino Jeju Island have become beacons for gaming enthusiasts.

9. France: $13 billion

France’s liberal gambling laws, among the most indulgent in Europe, make it a leader in the global gaming arena. With over 300 casinos, events like the French Open, Tour de France, and Rugby Six Nations propel its betting industry forward. The country is also famed for its exhilarating horse races at Chantilly.

8. Canada: $14 billion

Canada’s flourishing gambling industry owes much to its stable economy and superior living standards. Research shows that 75% of Canadian adults have dabbled in gambling, with lottery tickets often finding their way into Christmas celebrations. The country’s love for sports like ice hockey has also spiked interest in sports betting.

7. Germany: $16 billion

Germany’s recent liberalization of its gambling laws (GGL) has opened doors for private gambling operators through proper licensing. Over 400 establishments dot the landscape, with Berlin and Baden-Baden playing host to some of the largest casinos. Online betting and gaming are on the rise, with poker games being particularly favored.

6. Australia: $18 billion

As one of the fastest-growing economies, Australia’s stability allows its citizens to indulge in gambling. New South Wales, home to the highest number of casinos, sees slots and poker as perennial favorites among Aussies.

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5. United Kingdom: $19 billion

Post-pandemic, the UK’s gambling industry is surging, with online gambling, sports betting, and gaming contributing to higher revenues. Esteemed casinos like Aspers and Hippodrome bolster the country’s reputation as a top gaming destination. According to the UK Gambling Commission, in 2021, remote and online bets accounted for 52.3% of the market volume.

4. Italy: $20 billion

Since easing its gambling laws in 2008, Italy has seen its gambling sector thrive. Major cities like Milan and Venice boast more than 15 casinos, and the nation’s passion for football and tennis tournaments spurs its sports betting scene. For a more in-depth look into the world of gambling, check out this comprehensive guide.

3. Japan: $50 billion

Despite most forms of gambling being outlawed under Chapter 23 of the Criminal Code, Japan makes exceptions for betting on sports and racing. Prizes can’t be monetary, so winners receive items like chocolates or lighters instead. Pachinko remains one of Japan’s most beloved games.

2. China: $70 billion

China makes it to the top five gambling markets even though gambling is officially prohibited. Traditional games like Mahjong and card games, which bear gambling elements, are deeply ingrained in Chinese culture.

1. United States of America: $119 billion

The US dominates with the highest gross winnings annually. It’s a hub for major sporting events like the NBA Finals and the Super Bowl. The Supreme Court’s move to legalize sports betting across all states, and landmarks like Las Vegas, the global gambling nucleus, with casinos like the Cosmopolitan and Borgata, underscores its preeminent status.