Top 5 Countries by Gambling Profits
There’s no question about it – gambling is profitable for countries. Aside from the obvious benefit of tax dollars, places that bet big on the casino industry gain huge amounts from tourism. It also drives the local economy by providing jobs and helping other businesses grow.
5 Countries That Profit the Most From Gambling
Sure, gambling comes with its negative sides, too. Many countries are combating addiction and social issues that crop up thanks to the pastime. However, you’ll find that, as with everything, balance is key. The revenue generated by the gambling industry is a driving force in any economy, and places like Macau and Las Vegas are proof of that.
China
Gambling is generally outlawed in China, with the exception of Macau and Hong Kong. The casino industry is essential to Macao’s economy, as more than 58,000 jobs depend on it. In 2019, gaming establishments in the special administrative region contributed $36.7 billion in gross revenue. That’s more than four times what casinos in Nevada raked in.
Although the COVID-19 pandemic has dealt a heavy blow on the industry as a whole, the future’s looking bright. MGM China showed an 85% jump in revenue for 2021, despite ongoing restrictions.
United States
Americans love to wager their money, and it shows. In 2021, they gambled more than ever before. Casinos and gaming apps in the country recorded $53 billion in revenue, up 21% from 2019, before the pandemic forced casino closures.
It’s clear that people were itching to go back to the tables, as all states with physical casinos, table games, and in-person sports betting saw apparent gaming revenue growth. Las Vegas itself brought in more than $7 billion.
Everyone’s also paying attention to iGaming. The six states that allow it saw revenues totaling $3.71 billion, so a change in legislation is definitely on the table for the rest.
Japan
Does Japan belong on this list? We think it does. Although most forms of gambling in the country are illegal, there are exceptions. These include betting on horse racing, certain sports, lottery, and football pools.
How, then, is Japan one of the top countries by gambling revenue? The answer lies in Pachinko. The popular low-stakes game exists due to a specific legal loophole. Even during dire pandemic times, the terminals still recorded a gross profit of $21.4 billion. Unsurprisingly, the business is worth a lot, the equivalent of 4% of Japan’s GDP.
South Korea
South Koreans have a very complicated relationship with gambling. There are 23 land-based gaming establishments in the country, and the citizens of the country are only allowed to patronize one of them. Unsurprisingly, it’s also the most difficult to access, remotely located at the foot of a ski resort.
In spite of that, in 2019, the casino and gaming sector recorded $8.2 billion in revenue, thanks to the many Japanese patrons. Other forms of gambling are legal, too. The government regulates lotteries and bets on horse, boat, and bicycle races.
Germany
Rounding up our list is Germany. Prior to the pandemic, gambling revenues hit $17.4 billion. Although numbers dropped in 2020, the outlook for the market is bright, as estimates show that profits will hit $19.4 billion by 2024. There was also an increase in online gambling due to the closure of brick-and-mortar establishments.
In terms of Germany’s sports betting industry, turnover hit $9.9 billion in 2019. Although there was a marked drop in 2020 at $8.3 billion, it’s seen as a resilient market.
Post-COVID Outlook
As many nations start to open up again, you can expect the gambling industry worldwide to see new heights. Not only has online betting taken on new players, but punters are also excited to be back at the tables. Let’s get the money flowing again.
