It’s official. According to an article published in the Economist, that compares the net loss per player, Australia is way ahead of the rest of the world. Each adult averages an annual loss of just under $1,000 per person annually.
That is 40% higher than the runner-up Singapore ($700), and around double the average of most other western countries including the USA.
One of the reasons for Australia’s big numbers is the fact that we were one of the first major countries to deregulate gambling back in 1981. Compare that to, the UK, where the main legislation for deregulation came under the Labour Government’s 2005 Gambling Act.
In terms of the size of the global gambling market, the USA is still the biggest, with around 25% of all gambling revenues coming from the United States. In total, the worldwide gambling market is estimated to be worth around US$450 billion.
Surprisingly online gambling still only accounts for less than 10% of the global market, valued at US$37.9 billion according to the latest Statista report. The amount of revenue generated by online gambling varies from country to country. In the US, for example, only a minute percentage is generated online thanks to its Nevada-centric gambling industry. However, in countries like Ireland, the UK and Australia it hits 33% or more.
Sources: Gambling911, The Economist