Biggest betting wins and losses by country – Gambling Deals looks at the countries who love to gamble
When the gambling industry is hitting the jackpot, it basically means that the punters are not, for the punter it means lighter pockets.
The industry’s gross winnings are set to be a monstrous $488 billion, which even means it will have seen a dip of 2.6%, according to British consultancy firm H2 Gambling Capital.
The Economist reported that the slight drop in profits might be owed to China’s crackdown on gambling corruption in Macau, which has looked on as its revenue has been rapidly falling.
Asia is the home of the unluckiest punters per adult. The Aussies have the biggest loss per-adult basis by country, which sits at $1,130. Apparently they love to gamble.
People are drawn to gamble for various reasons, it is often the thrill of adrenaline, or simply pure entertainment, the opportunity for escapism, and the chance to get a life-changing sum of money. It also acts as a great social activity – if we consider what’s called interactive gambling, rather than the online market.
A huge proportion of gambling losses comes from video poker machines, also called pokies. These are lucrative in that a gambler can lose up to $1,500 per hour.
Massive spenders are found generally in cash casinos.
Take a look at the chart and you can see that the US reports the biggest annual gambling losses, of $142.6 billion, at least 50% larger than the second biggest China, which last year reported $95.4 billion of losses. The UK came at fourth place with $23.6 billion, which per population means that it still trails behind the US market for revenue in losses.
To put Gambling Deals’ into perspective – if we take our highest payouts of returns of 20% on gambling losses – globally it would have returned $97.6 billion dollars to the punters. That is more than China’s total gambling losses. A rather hefty sum.
Greece, which is not known for its strong markets, still managed to spend $420 per person – which meant a net country loss of $2.3 billion. After such economic hardship, where that money came from is anyone’s guess. It was likely people trying to win their way out of poor prosperity.
Norway reported $503 per person, which is significant if we take into perspective that since 2010, the Norwegian Government imposed a law making Norwegian banks to make their customers bank cards incompatible with casino operators worldwide, in both the online and interactive casinos.
After looking into these figures, in which global gambling losses put Bill Gates’ wealth to shame, you shouldn’t need us to tell you to protect your gambling losses by signing up to Gambling Deals – to ensure you don’t add needless amounts of dollar to this colossal sum of money.