Whenever gambling is mentioned, the glitzy images of Las Vegas come to mind. However, America is not the only gaming nation that is making waves at the moment. In fact, it is not even the biggest!
For instance, late in 2009, gambling had evolved to become a major global spinner with the legal market recording over 335 billion US dollars across various countries. Right from them, the industry has recorded significant growth every year.
Currently, many countries have exploded in the business and are growing at an unprecedented rate. Interestingly, some of these countries are the least suspected. One would never have imagined that the billion dollar gambling industry would thrive considering their unfavorable government policies.
Fortunately the tides are changing and better policies are being made to legalize and exploit the industry in most of these nations especially in the casino gambling. For instance, most countries now allow gamers to play both regular and online casino games for real cash. However, there are still few countries that have refused to bend.
While there are many things that could be used as a yardstick for growth, the average money gamers spend is a major factor. For instance, in one country, the average bet can be $100 while in another, it can be $400 or even higher. With this in mind, here are the top seven countries with fast growing gambling industries.
The Aussies have one of the biggest and fastest growing gambling industries in the universe. Online slots, casinos, horse racing, sports and poker are the favorites. For instance, the Luxury Casino reviews will expose you to some of the greatest offers. Just like in New Zealand, gambling wins are exempted from taxes.
As rich as the nation is, more than half of its population gamble and the number is expected to get higher every year. This comes as no surprise as gambling has been legalized in the country. Currently, there are more than fifty conventional casinos scattered all over the country, not to mention its massive online industry. A Canadian player spends around $570 annually on gambling with a whopping 13 billion generated in revenues.
Ireland is another country with a fast growing gambling industry. Since the amendment in its policies in 2003, more money has been spent in gambling by residents in the country. Horse races and Lottery tickets are the most popular games. An average Irish bettor spends around $600 annually.
When it comes to the Southeast Asian’s gaming industry, Indonesia currently has the highest conversions. The total revenues from the region totaled up to 1 billion US dollars last year with Indonesia as the main driver. This figure is expected to double before the end of 2017. Other contributors are Malaysia, Singapore, Vietnam, Thailand and the Philippines.
Since it was legalized in 2005, gambling in Singapore has grown at an unprecedented rate. Although, there are still many restrictions by the government, the industry still booms with the average Singaporean resident spending over $1000 annually with total losses close to $9 billion.
New Zealand’s is another country with a buzzing gambling industry. An average bettor over there usually spends less than $600 annually on games. Interestingly, bet wins are exempted from taxes.
Considering the high standard of living in the country, Finland thrives with a fast growing industry which gulps around $550 annually from the average Finnish gambler.