Worldwide Gambling Win Totaled $385 Billion in 2016, Australia Biggest Loser – Casino.Org News

News Financial Worldwide Gambling Win Totaled $385 Billion in 2016, Australia Biggest Loser

Worldwide gambling wins totaled $385 billion in 2016, and while the United States generated the lions share of that statistic, Australia once again led the way in terms of average net loss per resident.

No nationality loses more money per person gambling than James Packers Aussie constituents, but as far as the worldwide casino win goes, the US forks over the most cash. (Image: Scott Barbour/Getty Images)

According to data obtained by The Economist, a weekly magazine headquartered in London that covers financial markets, the average Aussie lost $990 on gambling over the last 12 months. Thats considerably higher than runner-up Singapore, whose citizens lost roughly $650 per person.

In terms of per resident costs, Ireland is the worlds third-biggest loser ($500), followed by Finland ($425), and the United States ($420).

H2 Gambling Capital, a UK data and market intelligence firm that analyzes casinoindustries, assembled the worldwide gambling revenue report.

Regardless of the fact that Australia leads the way in individual per person gambling, the countrys relatively small population of just 24 million citizens keeps the big casino power companies away.

Australians lost a total of $18.3 billion gambling last year. And while thats a staggering sum, it pales in comparison to the United States and the $117 billion its citizens forfeited.

The majority of gambling losses incurred by Americans came at land-based casinos on slot machines and table games. Lotteries also played a substantial role.

What the H2 Gambling Capital study doesnt include is of course underground wagering. Sports betting remains illegal in the US, with Nevada being the exception. Americans are estimated to have bet $117 billion on sports last year, with the vast majority taking place through illegal outlets.

China didnt landin the top 15 in terms of gambling losses per resident, but the countrys massive population, the largest on planet Earth, spread out their damages. The Chinese saw $62.4 billion disappear from their wallets and into the hands of casino companies in 2016, the biggest loss behind only the US.

Its worth pointing out that India and its 1.3 billion population didntfall victim to gambling. The massive nationspent less on betting than much smallercountries including Sweden, the Netherlands, and Singapore.

Though Japan is only now considering legalizing land-based casinos, the Pacific Ocean island nation still managed to drop $24.1 billion. Pachinko parlors, horse and automobile pari-mutuel wagering, andthe wildly popular lottery grabbed the majority of bets placed in Japan.

With over 126 million residents, resortcompanies in the US are readying to make proposals to the Japanese government should it decide to permit the construction of casinos.

In December, Japans parliament passed the Integrated Resorts Promotion bill. The countrys legislators are now working to decide how many casinos will be authorized, as well as critical details such as tax rates and minimum investments from interested gaming businesses.

The stakes are astronomical. According to Hong Kong investment bank CLSA, if Japan were to legalize casinos nationwide, the market would be capable of producing annual revenues of $25 billion. That would put it behind only Macau as the richest gambling destination in the world.

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Worldwide Gambling Win Totaled $385 Billion in 2016, Australia Biggest Loser - Casino.Org News