Believe it or not, while Las Vegas is likely to be the place name on every person’s tongue who you might ask which country is synonymous with gambling, the biggest expo in the gaming industry is actually held in London. Like so many other businesses that came before, numerous companies were rushing to grab the latest new technology – apps, slot machines, virtual reality – and for that, they have seen huge rewards.
The online gaming industry is the gambling field’s fastest-growing sector, and it was this that accounted for 11 percent of the $385 billion gambling profits, which had been published in 2016. That being said, when it comes to the countries where gambling is the most prevalent, London is not the only one up there with Las Vegas.
It just goes to show you that no matter which country you live in, we all have a common thread running through us, and that is that we all like gaming as much as the next person. Having said that, the fact that slots sites, like slotsuk.co.uk, keep being launched to satisfy all those who are turning for their entertainment online shouldn’t make us wonder.
When you hear the word Australia, perhaps what it is that actually comes to mind is more along the lines of kangaroos with some imagery of sun, sea, and sand. But, in actual fact, Australia has become one of the biggest gambling hotbeds in the world. Industry leaders know it is one of the most lucrative markets.
According to the consultancy H2 Gambling Capital (H2G), betting losses per resident adult in Australia mounted to a huge $990 last year. This is a massive figure that is 40 percent higher than that which had been published in other places like Singapore, who made it as the runner-up in this list of countries where gambling is the most prevalent. This figure from Australia is also roundabout double the average from other Western countries.
In Australia, the most popular form of gaming comes from electronic poker machines, known as pokies, which are more prevalent in Australia than anywhere else in the world. The reason for this could be due to the fact that while devices are indeed legal in many other markets across the world, the sizes of the bet are more often than not capped at a level that is considered modest. But, not in Australia. This country started to deregulate the gambling industry in the ’80s. meaning that punters can now lose a figure roughly as much as $1,150 every single hour.
Country-specific restrictions in the gambling market
Having said that, while Australia is clearly a profitable place for the gaming industry, there is very little room for expansion because the population of 23 million makes it a relatively small and mature market. Unlike the United States of America, a country where the total losses of gamblers reached a figure of $117 billion alone last year. But, the potential for this country is huge.
Americans wagered a whopping $150 billion alone on sports illegally last year, but the Puritan tendencies of the country have managed to keep the industry’s growth at a sustained level, meaning that spending per person has not really changed for a decade. In some countries, online gaming accounts for a huge third of spending and is legal in only three states after a federal clampdown in 2011. Sports betting is legal in just one.
Finland and Ireland
So it comes as no surprise that Ireland and Finland, both of which among those countries that opened up online markets, recently overtook America in terms of spending per person as a result. America is not the only country putting restrictions on gambling, as Singapore is also among those which keep a tight lid on the range of betting options which are legal, and so the industry revenues often drop as a result.
In China, we see a different kind of regulation that has curbed gaming. This came as a surprise, because only three years ago, H2G expected this country, along with Macau and Hong Kong, to surpass America as the biggest market in the world in 2020. However, come 2013 the Chinese government decided to crackdown on corruption, and this announcement derailed Chinese government officials from entertaining in the Macau casinos. And so, as a result, the industry’s profits here in China soon fell by a significant 20 percent and have found it very hard to recover – in fact, they have barely done so.
Of course, like a game of Jenga, take one piece out, and the whole thing can fall down – the decline in China then caused the overall winnings across the globe to drop in 2015, making that the first dip since H2G’s data began.
Jackpot in Japan
But in stark contrast, the gaming houses based in Japan might just be set to soon hit the jackpot. While the country is still in the running as the third-largest gambling market in the world, since 2003, annual revenues have declined steadily due to tight regulations being enforced.
Clever firms have managed to find loopholes to work around the law though, pachinko, for example, a popular game much like a pinball, is not classed as gambling as it gives out special prizes which can be traded for cash at specific kiosks which are entirely separate entities from the pachinko parlous.
This was not for long though, thanks to a law which had been passed in December 2017 that means that casinos are permitted for the very first time with foreign operators in a long queue to be the first in there to get building them.
Estimates by H2G show that winnings could swell by as much as 50 percent within the very first year of opening, which would be good news of course for the industry and the Japanese punters’ purses and wallets. Many of the happenings in the industry came as much as a surprise for industry leaders in gaming as it did for the figures, and it can be hard to keep up at times.