The global gambling market is in a fever. The last few years have changed the balance of power: laws regulating the activities of the gaming business, the strengthening of the positions of Asian countries, the dynamic growth of mobile betting, the increasing role of cryptocurrencies, influenced the industry a lot.

Back in 2014, the United States was the undisputed leader of the gambling industry. According to H2 Gambling Capital research, published in The Economist, $142.6 billion was lost in the United States that year. By the end of 2016, Asia (Singapore, Macau, Malaysia, Philippines) became the undisputed leaders of offline betting in terms of income: its market share was 55.2%. So, what is the role of gambling in the economies of small states? Let’s find out!

What Revenues Do Casinos Bring to Budgets of Different Countries?

The attitude of ordinary people and entire states towards casinos is ambiguous. Some see only crime and deception in this business, others are more loyal and ready to accept casinos with some restrictions, others love playing Сlashofslots online games.

All over the world, governments of different countries receive hundreds of billions of dollars annually from casinos in the form of taxes. Of course, governments turn a blind eye to some of the side effects of casino activities, primarily associated with the psychological dependence of some avid gamblers. Although, in recent years, the governments have done a lot to prevent the spread of this phenomenon. What incomes from the gaming business go to the budgets of different countries?

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1)   Malta

Malta had 287 casinos registered in 2017. It is noteworthy that the number of issued online casino licenses has grown over the same time almost six times, from 112 to 625. Total revenue from Maltese casinos is €1.1 billion, and this figure continues to grow from year to year. It should be noted that this is a large amount for a small island nation. Annual revenues account for over 11% of the entire economy.

2)   Singapore

Singapore is generally a world leader in the speed of development in many areas of economic activity, including casinos. The ban on casinos in the country was lifted relatively recently, the first casino was opened in 2010, and in the 2017-18 fiscal year, Singaporean casinos brought about $2 billion to the state budget, which is almost 7% of all tax revenues. The casino in Singapore focuses primarily on foreigners. Local residents have to pay quite an impressive amount for visiting a gambling house. However, this amount decreases annually, and, according to statistics, 52% of residents over 18 years old have tried their luck at least once in such institutions.

3)   Macau

This Chinese city is the capital of the Asian gambling business. More than 50% of the city’s tax revenue comes from casinos. In 2007, Macau surpassed Las Vegas in gambling revenues. There are more than 50 casinos here, and the city itself is visited by more than 32 million tourists a year (with a population of 600 thousand people). Taxes on casinos are very high – 35-40%, but this does not prevent gambling establishments from developing. In total, only the VIP market in Macau grew to $5.1 billion.

4)   Philippines

The modern gambling industry in the Philippines is actively developing, and the country hopes to become a major player at the regional and even global levels. This is possible due to the geographical location: Asians are considered avid gamblers, and more and more Asian countries are striving to compete for market share in the Asian region. In 2019, the total revenue from gambling amounted to $1.57 billion.

5)   Monaco

In the city-state of Monaco, things are a little more complicated: gambling is prohibited for local residents but allowed for foreign tourists. Every year casinos in one of the smallest countries in Europe earn 210 million euros and employ over 1,300 compatriots. The share of gambling in the Monaco economy is about 6% of GDP, which is rather a lot.

Please gamble responsibly.