In countries where gambling is legal, government revenue from the gambling industry has been rising rapidly. Ever since the advent of the Internet, the gambling industry has grown significantly.

Gaming Casino Statistics: Data: Total number of commercial casinos in the U.S. 462: Number of states that do not allow gambling: 2: Number of states that allow all types of gambling: 3: Number of jobs provided by commercial casinos: 354,000: Annual state tax revenue generated by commercial casinos: $5,200,000,000. . Online Gambling Type Outlook (Revenue, USD Billion, 2014 - 2025). Sports Betting. Casinos. Poker. Bingo. Others. Online Gambling Device Outlook (Revenue, USD Billion, 2014 - 2025. The online gambling industry is anticipated to grow at a faster pace due to favorable government regulatory environment. Furthermore, growing disposable income of consumers and rising adoption of 4G and 5G technology has enabled to increase the revenues of e-commerce industry, focusing majorly on online gambling market revenue worldwide.

In the UK, for example, between 2009 and 2010, four percent of adults had placed at least one bet online. Today, that percentage is nearing 8%.

The gambling industry, since its inception, has found new ways to take advantage of new tech developments. The industry is evolving rapidly. Websites that feature, for example, information on best betting apps, have to update their data much more frequently today than before.

Online Gambling Industry Revenue Definition

With video gaming and esports one of the most ready-made transitions for sports fans during the coronavirus-induced shutdown, projections for industry-wide revenue are up. Revenues Generation Most of the revenue that is being generated in the gambling industry is coming from specific geographical locations. The gambling market globally is divided into the following.

Gambling is the act or practice of playing games of chance for a stake. In the vast majority of cases, the stake is money. However, it could be any possession, including the ‘shirt on his back’ if the gambler has run out of money.

Nevada revenue from gambling industry

Nevada is a western US state with a population of nearly three million. Its most famous city, Las Vegas, is home to many 24-hour casinos. The Nevada Gaming Commission says that in the Las Vegas strip area alone, there are 45 casinos.

In 2017, Nevada casinos generated $26.2 billion (€23.05bn, £20.06bn) in gambling revenue. This represented a 3% increase compared to 2016.

The total was a new record and meant that gambling tax receipts were once again higher than they had been before the 2007/8 Global Financial Crisis.

UK Government revenue from gambling industry

In the UK, the gambling industry is huge. In 2017, government revenue, i.e., tax, from the gambling industry, reached £13.8 billion.

Online Gambling Industry Revenue Companies

Ten years ago, gambling laws in the UK were liberalized. Since then, tax revenue from gambling has risen by 65%.

The Gambling Act 2005 came into force in 2007. It allowed TV advertising for sports betting, poker, and online casinos. In other words, it meant that betting firms had direct access into our homes.

Government income from online betting, rose from £817 million in 2009 to £4.5 billion in 2017, says The Guardian. Today, online betting represents more than one-third of the UK’s gambling industry.

Ireland to double gambling tax

Online Gaming Industry Revenue 2015

Gambling tax in Ireland is set to double from one to two percent for both online and retail bets. Duties that the government levies on gambling exchanges will also rise, from 15% to 25% – this is when betting shops (bookmakers) match wagers between customers.

Online Gambling Industry Total Revenue

The Irish gambling industry warns that the new taxes will ‘kill the industry.’ The Telegraph quotes Paddy Power Betfair which said the new taxes would increase its betting duty bill by £20 million.