How Big Is the Casino Industry
Gambling has always been one of the most popular human activities. Therefore, it’s no wonder that most countries around the world still keep most of its forms legalized, despite the negative effect on so many people. Things are pretty simple here, it brings a lot of money, not just through taxes, but in many other ways as well. Of course, the first thing that comes to mind is the casino. Land-based or online, it is a huge industry that measures in hundreds of millions of dollars, if not more.
Globally, this industry is huge, so huge that contributes to the global economy in a huge portion. For example, in 2016, land-based had a gross win of around 450 billion, while online casinos had a gross win of around 5 billion. Numbers are even higher these days, especially with online casinos. The exact numbers are still unavailable, but experts presume it goes way over 50 billion.
Biggest Casino Markets in the World
Only in the United States, the gross win in 2016 was nearly 70 billion dollars. Of course, the first destination that comes to mind is Las Vegas. More than 40 million tourists visit this Nevada city every year, and it’s not hard to conclude that most of them come to gamble. Interestingly, Las Vegas isn’t the world biggest casino market anymore. That title now belongs to Macau. This is a special administrative region in China, which is all about gambling. In the early 2000s, the gambling revenue of the whole region was under 10 billion. These days, it goes way over 50 million dollars. The thing with the casino industry is that it brings a huge amount of money not just through gambling, but in many indirect ways as well. Some of the first things that come to mind are hotels, entertainment facilities etc.
How About Online Casino?
When it comes to an online casino, the market is growing rapidly. According to some estimations, there are more 250 registered gamers online, so it’s no wonder that the size of the online betting industry is expected to reach 60 billion dollars in the next year. Interestingly, the biggest share belongs to Europe – being on the forefront as players no longer has to register to some casinos in Germany and Sweden, making it convenient to gamble whenever and however they want. The old continent is good for about 25 billion when it comes to online gambling. The exact reason for such huge popularity in Europe is unknown, but experts presume it’s because of numerous gambling innovation and a huge number of casino platforms. Interestingly, a number of female players is much bigger compared to traditional, land-based casinos.
What Can We Expect in the Future?
Considering that the casino industry has been in constant growth, we have no doubt that the same trend will continue in the upcoming years. This particularly refers to online gambling, which is expected to overtake the market in the following years. Given the advance of modern technologies and legislation, this seems certain. Even today, half of the online gamers gamble via smartphone, so we may presume the number will increase in the future since this seems like the most practical and most convenient ways, it already became a part of everyday routine for many players. Future innovations could completely transform the casino industry in the future.