Gambling is one of the biggest industries in the world. According to a recent Insider Monkey report, the market size of the casino and online gambling industry worldwide reached a total of $231 billion in 2021. Online gambling alone is expected to exceed $114 billion in size before the end of this decade, with a compound annual growth rate of approximately 11% over the forecast period that runs up to 2028.
Well-known and biggest gambling hubs in the world are found in countries such as the United States of America, the United Kingdom, and China. While, one country of the CIS, Eastern Europe region also listed in the top 15 of the biggest gambling countries in the world.
Russia with a total gambling gross win of $4 billion is in 14th position in Insider Monkey ranking. Online gambling is prohibited in the country, but the land-based gambling market has been thriving since 1987. Some of the prominent land-based gambling casinos are in a few regions where the government has allowed gambling.
However, figures are predicted to fall in the near future due to the ongoing war in Ukraine, which is taking a heavy toll on Russia’s economic performance.
Besides Russia, the list included the leading countries of Europe and Asia, such as the Netherlands, Spain, France, Germany, Singapore, South Korea, and the Philippines.
Canada is also on the list with a total gambling gross win of $14 billion. One of the reasons why the gambling industry is thriving in the area is because of a stable economy. The country is home to gambling and sports betting, with studies claiming that 75% of adult Canadians have gambled once in their lives.
Australia is another important country with a total gambling gross win of $18 billion. Australia is one of the fastest-growing economies in the world and the stability has allowed citizens to explore recreational avenues to spend their money. Notably, slot machines and poker games are most popular among Australians. Not only gambling, but sports betting also has a major contribution to the economy.
The UK is in the top 5, witnessing a gambling boom after the global pandemic. In 2022 the industry achieved higher revenues through not only gambling, but also online gambling, sports betting, and games. The total gambling gross win of the UK equaled $19 billion.
Italy has a rich history of gambling and many inventors of casino games have origins in the country. It has a total gambling gross win of $20 billion. Japan is in third place with $50 billion.
The online gambling market size of China reached $9.2 billion in 2021 and it is expected to reach $14.7 billion by 2027. Even though China falls in the top five leading gambling markets of the world, the government does not allow gambling, which is considered illegal. Its total gambling gross win was $70 billion.
The USA is the top leading country in the world with the highest gross wins every year. Last year it had $119 billion. The US Supreme Court legalized sports betting in 50 states recently. Sports betting is a favorite activity in the country, as well as the world’s largest casinos are found in the US, notably in Las Vegas, which is the world’s gambling hub.
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