Sunday, May 26, 2024

The US tops the global gambling market rankings

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The United States has come out on top in worldwide gambling market data.

Statista, a leading market analyst, has ranked the U.S. ahead of the United Kingdom and other countries with well-established gambling industries.

The U.S. top of the worldwide gambling rankings

The rankings define the top five countries: the U.S. is in pole position, followed by the United Kingdom, Australia, Germany, and Canada.

The research considers the Gross Gambling Revenue (GGR) and the number of purchases a consumer makes within twelve months. The total global pot of expected takings in the worldwide gambling market is set to reach a projected $100.90bn this year.

Statista estimates this year’s record figure could grow to an anticipated $136.30bn by 2029, which would also include a continued uptick in players to a potential 281.3m users by 2029.

The report states mobile gaming is the dominant source of placing bets and interacting with operators. Mobile gaming allows gambling operators to have a much larger customer base without the need for a brick-and-mortar store.

“The rise of mobile gambling, integration of social elements, and regulatory frameworks are shaping the market dynamics. Additionally, disposable income, consumer spending, and technological advancements are important factors that influence market growth,” says the report.

States more lenient on gambling operators

Sites like FanDuel, Draft Kings, and BetMGM are gaining a more significant foothold in states with changed gambling legislation.

New York, for example, had a record number of bets placed in April, with $1.96bn in sports wagering alone.

As we previously covered, the Big Apple is responsible for 37% of all US sports betting taxes, which shows the import role that gambling takings play in one of the busiest gaming states.

The Statista projections could come true as there are also untapped states with no gambling options, such as Missouri. The home of the Super Bowl winners has seen a growing cacophony amongst state teams, as they have been vocal about blockbuster deals with gambling operators to improve their facilities and coffers.

Despite the collective sports teams’ best efforts, gambling partnerships and wagering have not been legalized. However, there is some hope for the Kansas City Chiefs as plans for a new stadium and the lucrative taxes that can be placed on sports betting companies ramp up the November state election ballot.

The Chiefs will be hoping some of their on-field luck will rub off on the ballot to snap up a new home field and solidify the U.S’s position at the top of the global gambling rankings.

Image: Ideogram.

 

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