Gambling is one of the most lucrative industries in the world. Over the past few decades, increased internet infiltration, technological advancements, and changing regulations have caused it to grow exponentially. The global gambling market was estimated to be worth $540 billion in 2023. But despite this monolith-like growth, gambling is actually a fragmented market with different countries contributing to its growth. In this post, we review the biggest gambling nations in the world as of 2024.
The US – $66 Billion
By revenue alone, the US is the biggest gambling nation in the world. Casinos in the country collected a whopping $66.5 billion in revenue in 2023, which was at least a 10 percent increase from the previous year. Of this amount, $35.51 billion came from slot machines, $10.31 billion from table casino games, and $10.92 billion from sports betting. Sports betting is particularly popular in the United States, with statistics showing that Americans legally wagered $119.84 billion on their favorite sports in 2023. On average, an adult in the US spends $261 a year on casino games and lotteries.
United Kingdom – $18.6 Billion
While the UK is not the biggest gambling nation in Europe (Ireland takes that title), it is the most lucrative gambling market in the region. The UK has a long history with gambling and is the country most associated with horse race betting. In the last several decades, the market has evolved to include more than horse races, with more bettors online using the betway app download, to access online casino games and other sports betting opportunities. This expansion saw the country bet $18.6 billion in revenue in 2023. On average, gamblers in Scotland, England, and Northern Ireland spend $179 yearly on gaming and betting.
France – $14.9 Billion
Like the UK, France also has a long history with gambling. The country is credited with the invention of the roulette wheel and global horse racing events like the Prix de l’Arc de Triomphe. Football betting is also highly popular. Last year, gamblers in France generated $14.9 billion in revenue, making the country one of the biggest gambling nations and markets in the European region.
Canada – $14 Billion
Although Canada’s online gambling market is only worth $2.6 billion, it has a robust appetite for land-based gambling. The indigenous communities of Canada had been gambling since long before the settlers arrived, and this tradition continues today. National and provincial lotteries are a popular form of entertainment in the country, drawing participants in their millions. The recent legalization of single-even betting is also expected to raise the stakes and make gambling more widespread. In 2023, Canada made $14 billion from sports betting, lotteries, and casinos.
Australia – $10.9 Billion
Australia is the biggest gambling nation in the Asia-Pacific region, with a gross revenue of $10.9 billion in 2023. Operators like Betway have been active on the continent for years, subject to the evolving regulatory landscape. Australia’s history with gambling goes back to horse racing, and events like the Melbourne Cup are evidence of the sport’s persisting popularity. However, Australians have also shown an affinity for sports betting in recent years, particularly in cricket and football. This fondness continues to grow.
Wrapping Up – An Evolving Landscape
The global gambling market is dynamic and diverse. Different markets, countries, and even operators contribute to its continued growth. Within these countries, regulatory frameworks are always changing. Betting countries also adopt technology at different rates. This means that while the global gambling market will continue to grow, each country’s market size will evolve differently. At the moment, however, these nations remain at the helm of the industry.
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