We’ve seen some of the most dramatic fluctuations in gambling revenue in recent years.
In the late 2000s, the United States saw a surge from $60 billion to $90 billion in gaming revenue over the course of a decade. But by 2006, when the recession hit, the gambling industry had just $33.9 billion in sales.
For countries that are not as wealthy and dependent on gambling, their overall spending has remained relatively static over the last few decades.
According to the World Wildlife Fund, the majority of countries are spending about the same as they were in 1989: about $50 billion. But there were some huge shifts over the years, including a huge spike for Australia, which jumped from $33.2 billion to $49.5 billion the decade before.
Meanwhile, more countries have continued to expand their betting markets over the last few years, including Russia, Brazil and Mexico.
What’s the biggest increase in gambling revenue from any country?
South Korea tops the league of countries on the top 10 list and it’s a huge change for the country.
Between 2005 and 2014, its gambling revenue went from about $4 billion to a staggering $14.7 billion — an increase from more than $4 billion in 2000.
South Korea’s gambling revenue doesn’t exactly match Russia, which was still the world leader when the survey came out in 2006, with $4.9 billion in gambling revenue in 2008. That’s up from $3.4 billion in 2008.
The difference, according to the WOF, is due to South Korea’s lower population size and its much higher consumption of alcohol.
So what can be done to reduce gambling costs in your country?
The only true way to take a shot at reducing gambling costs is by banning it outright. If that happens, though, there may be unforeseen repercussions down the line.
One of the major ways governments have tried to deal with gambling costs is a tax. The most famous among those is a 35 percent tax on all gambling. That tax doesn’t affect everyone, as every casino that has been shut down or is under review could still be paying that tax. And some of those casinos are likely still gambling.
But that revenue was so big that some countries would have to cut back their gambling and tax revenues to balance the budget.
And then there’s the issue of whether gambling tax revenue can be recovered. Some tax experts have questioned whether the revenue