Gambling is among the few things in the world today that goes beyond race, creed, or color. In every culture of the world, you would find sufficient proof of gambling in the heart of its history. From old China, where there were pieces of evidence of unsophisticated games of chance on tiles, all the way to Egypt where the earliest known dice were dug out from the ground, gambling has been a part of humanity since time immemorial.
Long before the age of civilization, human beings have engaged in gambling for various reasons, including financial gain and entertainment. Generally, gambling entails putting one's valuable on the line in the hope of gaining something much more valuable by predicting the outcome of something that is not certain. While this might seem irrational to some people, the psychological gravity is so strong and has birthed the gambling industry which is worth billions.
Gambling In Various Parts of the World
The global gambling market size was valued at close to $490 billion in the year 2019 and experts have forecasted that the market size will reach more than $525 billion by the year 2023. Since 2014, the global gambling market has continued to experience a steady growth at a compound annual growth rate (CAGR) of 4.1%.
Online gambling, which consists mainly of casino games, poker, https://22.214.171.124/ , and sports betting, has increased in demand since smart phones become popular. Advancement in technology has always done one thing – make life easier. There is no exception to that in the case of gambling. Today, at the comfort of one's home, one can easily place a bet and withdraw earnings in real-time. The global market size for online gambling alone is expected to reach more than $92.9 billion in the year 2023.
Top Gambling Centers Around the World
As stated earlier in this article, gambling goes beyond race, creed, or color. There's hardly anywhere in the world you would go today where you wouldn't find a place to gamble. However, restrictions and regulations either by religion or government could influence availability. Even in countries where gambling is strongly frowned upon, it is not uncommon to find illegal gambling.
Here are some top gambling places around the world:
Macau is an autonomous region located on the south coast of China. 50% of the revenue generated by Macau comes from gambling alone. The city made almost $38 billion in 2018 from gambling.
2. United States
In the United States, gambling is legal. The industry is worth more than $240 billion and employs 1.7 million people. In 2016, state and local tax from gaming taxes contributed $8.85 billion to the United States revenue.
3. United Kingdom
Gambling in the United Kingdom has continued to expand virtually every year. In 2018, the gambling industry in the UK made £14.4 billion. According to recent statistics, each month, over 45% of UK residents gamble in some way.
Gambling addiction is one of the problems Australians are contending with today. It is not out of place to describe gambling as one of Australians favorite activities. Eighty percent of the population in Australia gambles.
Gambling has moved from mere entertainment, which is most likely how it started in the early years, to being an industry that generates billions of revenue. Seeing gambling is almost impossible to curtail, the government of different nations has embraced it by legalizing it and putting in place rules and regulations to ensure smooth running. In some countries, most especially those with high levels of unemployment, the rate of gambling is alarming and calls for concern.