The casino industry has been steadily growing and advancing in recent years, owing largely to the proliferation of online gambling and technological advancements in gaming. But how much of that growth can be attributed to casino companies’ efforts to improve the player experience? What do experts believe the future holds for gambling establishments such as casinos? Who has the most potential for advancement? We will answer these and many other questions using the most recent statistics on casinos from around the world. Let’s take a look at the state of the casino industry and see where it’s going.
- The global gambling market is expected to be worth $465.8 billion in 2020, and this figure is expected to rise to $516 billion the following year (2021).
- The total value of the online gambling and betting market was $66.7 billion in 2020, and this value is expected to more than double by 2028.
- The pandemic resulted in a 31% decrease in revenue for casinos in the United States.
- Online gambling is enjoyed by approximately 26% of the world’s population.
- According to casino statistics for 2020, the Asia-Pacific region earns the most money from gambling of any other region, accounting for 38% of the total market.
- Europe dominated the online gambling market in 2019 with $22 billion in revenue, making it the industry leader globally.
- The total gross revenue generated by gaming in the United Kingdom in fiscal year 2019-2020 was $14.2 billion.
Traditional Land-based Casinos’ Prosperity and Disarray
Despite the fact that the pandemic caused significant problems for land-based casino businesses, several locations have seen consistent growth. These companies continue to entertain roughly one-third of the world’s population while also employing over one million people worldwide. We will also discuss the various casino and table games, as well as the impact those games have on the industry as a whole, as part of our coverage of the casino sector.
1. The global gambling market is expected to grow from $465.76 billion in 2021 to $516.03 billion in 2022
According to recent research, the total market cap for gaming is expected to grow at a rate of 10.8 percent per year. While businesses recover from global lockdowns, work-from-home policies, reduced or closed commercial enterprises, and social alienation, they are changing the shape of their operational structures. Despite the current problems that land-based casinos are facing, casino statistics show that the gambling market will grow to $674.7 billion by 2025 as a result of the boom in online gambling. This expansion will take place despite the fact that land-based casinos are currently struggling.
2. In 2020, the Asia-Pacific region held a 38 percent share of the global gaming market
Although each sector of the economy faced its own set of challenges as a result of the pandemic, certain regions were significantly more affected than others. For example, the Asia-Pacific region retained its 38 percent share of total gaming revenue generated globally. Macau generated $7.63 billion in gross revenue from gambling and gaming in 2018, despite a significant drop in the number of tourists who visited the territory. For example, in 2019, the gambling island earned more than $36 million. According to casino revenue figures for the year 2020, North America was the second-largest earner, with a market share of 29 percent. On the other hand, the Middle East generated the least amount of revenue in the global gaming industry.
3. The 2020 epidemic resulted in a 31% decrease in revenue for casinos in the United States
The epidemic and subsequent lockdowns resulted in a nearly 30% drop in federal gaming revenue. Although most states lost approximately 27% of their regularly scheduled workdays, some states, such as New Mexico, saw a loss of profits equal to or greater than 79% as a result of the government shutdown. The various states were not affected equally. Others, such as the state of New Jersey, made the wise decision to switch to internet gambling and saw an increase in revenue from year to year. According to data compiled by the casino industry, the upcoming legalization of gambling in the United States, particularly online gambling, will almost certainly contribute to the gaming sector’s overall recovery.
4. More than one million people are employed in the global casino and online gambling industries
Despite the challenges that the gambling industry is currently facing, there were 1,122,574 people employed in the industry across 4,801 companies located all over the world. Because these businesses offer hotel, dining, and beverage options in addition to casinos for customers who come to play, they create jobs for a much larger number of people than just those who work in casinos.
5. The presence of Native American casinos increases adult employment in the areas surrounding reservations by 26%
According to data provided by Native American casinos, gambling establishments run by Native Americans have a net positive impact on the local population that lives near reservations. As a direct result of the establishment of casinos in tribe-controlled territories, there has been an 11.5 percent return of young adults to Native American villages near casinos, and there has been a 26 percent increase in the likelihood of people living in the area finding employment. Furthermore, the number of households with working members that live on a low income has decreased by 14%. It is important to note that the vast majority of employees in these casinos are not of Native American ancestry. On the other hand, the establishment of a casino can be blamed for an increase in the number of bankruptcies as well as a 10% increase in the number of automobile thefts, significant criminal offenses, and other thefts within a fifty-mile radius.
6. From April 2019 to March 2020, the gaming industry in the United Kingdom generated a total gross revenue of $14.2 billion
Lottery revenues are included in the total GGY. Without it, the United States Gambling Commission projects a yield of $10.2 billion over the same time period in the gambling industry in 2020. Although these figures appear to be quite encouraging at first glance, they actually show a decrease of between 0.6 and 4.5 percent when compared to the same time period in 2018 and early 2019. According to US figures, gaming machines generated a total revenue of $2.1 billion; this decline is far more severe, representing a 25.6 percent year-over-year loss (YoY). Online casino sites based in the United States, on the other hand, saw an increase in profits during the same time period.
7. Approximately one-quarter of the world’s population gambles online
More than a quarter of the world’s population has engaged in some form of internet gambling at some point in their lives. In terms of actual numbers, this equates to approximately 1.6 billion people who gamble on a regular basis, and 4.2 billion people who gamble at least once a year. According to the demographics of people who gamble in casinos in the United States, 17 percent of the UK population participates in gambling activities at online casinos and betting sites. The global market for online gambling benefits from their $5.3 billion in annual revenue. In 2016, only 3% of people in the United States gambled on the internet. This figure has already risen significantly, and it is expected to rise even further as a growing number of states in the United States update their online gambling regulations.
8. In 2018, the revenue generated by interactive games in traditional land-based casinos was 13.45 billion dollars
According to 2019 research, interactive games have contributed to the consistent growth of the industry for land-based casinos since 2003. According to data collected from casinos around the world, interactive poker is the most popular game, followed by table games and finally slot machines. In that year, land-based casino revenues in the United States, China (including Macau), and Japan accounted for 56.8 percent of the global total.
The epidemic had no effect on the success of online casinos; in fact, according to all available statistics, the growth of the internet gambling industry as a whole is expected to accelerate in the year 2020.
9. The total value of the online gaming and betting market was $66.7 billion in 2020, and this figure is expected to more than double by 2028
According to some estimates, the online gaming and betting industry will be worth up to 160 billion dollars by 2028. According to data compiled by the gambling industry, one factor contributing to this popularity is the increase in internet accessibility, which surpassed 46% in 2019. Another factor contributing to the rapidly growing market for online gambling is the availability of games, as well as the incentives and promotions provided by online casinos.
10. Europe continues to dominate the online gaming sector ten years later, with a market valuation of $22 billion in 2019
The dominance of Europe in the global online gambling market in 2019 can be attributed in large part to gambling regulation and legalization in countries such as France, Germany, Spain, Malta, and Italy. A number of factors contributed significantly to the expansion of the European gambling market, including the proliferation of mobile casino apps, lightning-fast internet connections, and smartphone users.
According to data from online casinos, the loosening of regulations related to pandemics, as well as the increasing use of cryptocurrencies in the Asia Pacific region, are both contributing to the revitalization of this sector of the business.
11. In the first quarter of 2021, iGaming and sports betting contributed nearly 15 percentage points to total commercial gaming revenue in the United States
Internet betting revenue reached $1.24 billion in the first three months of 2021, more than three and a half times what it was in the same period in 2020. Individuals in the United States placed wagers totaling 1.24 billion dollars with legitimate sportsbooks during the first three months of 2021. As a result, statistics for the global gaming industry in 2021 show that iGaming and sports betting provided a combined total of 14.9 percent of the gaming industry’s overall revenue in the first quarter of 2021.
FAQ
How many people do you think gamble around the world?
Approximately 1.6 billion people gamble on a regular basis, while 4.2 billion gamble occasionally.
Is there expansion in the casino industry?
According to the findings of a Research and Markets study, the casino industry was worth $465.76 billion in 2020 and is expected to be worth $516.03 billion in 2021. This equates to a 10.8 percent growth rate.
How much money is wagered on various forms of gambling each year around the world?
According to data compiled from casinos around the world, the global gambling sector will be worth $227 billion in 2020.
How many different types of casinos are there all over the world?
In 2019, there were over 4,800 casinos around the world.