There are many different gambling statistics that you may find useful when you decide to play in online casinos. Gameseek.co.uk shares 5 interesting facts about the gambling industry that are good to know before you decide to bet.
Gambling has been around for thousands of years. People seem to like to take part in risk games and try their luck. In modern history, the world of gambling has become an industry worth more than half a trillion dollars!
Gambling is a fun and exciting activity in which profits can be won and lost almost instantly. And almost as interesting as the gambling itself is the gambling statistics.
Gamblers have a 30% chance of winning every day
This statistic is according to the Wall Street Journal. While some amateur gamblers may take a sigh of relief after reading this, you should know that this statistic is not 100% true.
This data is from a two-year study that surveyed people who play in online casinos. In both years, 11% of these players win. And most of them have earned less than $150.
Maybe it’s more interesting when you see how the numbers change when you look at regular gamblers. Betting constantly doesn’t make you a good player – only 5% of these players leave with more money than what they started with.
Looking for some interesting details from the survey? 50% of casino revenue comes from only 2% of players. And 80% of the revenue comes from only 10.7% of gamblers.
But what about players who don’t bet as often? Did they do better?
According to the survey, 10% of the players who bet the least had the highest profit percentage. And 17% of them left with a profit.
A total of 4,222 gamblers participated in the study. And only seven of those players have won more than $ 5,000. Unfortunately, 217 players lost more than $ 5,000.
This does not mean that you should not gamble or play casino games. This means that you have to approach gambling wisely.
2%-3% of Americans have gambling problems
About 2 million Americans /around 1% of the US population / have serious gambling problems and 4 million have mild or moderate gambling problems. These 4 million Americans meet at least one of the criteria for gambling addiction, but do not meet the full diagnostic criteria.
According to the National Gambling Council (NCPG), gambling addictions include all patterns of behavior that harm, disrupt or compromise one’s professional, family, or personal activities. Symptoms of gambling addiction include:
- Continuous gambling;
- Irritability or anxiety when trying to stop;
- Loss of control, despite the growing negative consequences;
- Desire to bet more money more often;
- In extreme cases, gambling addiction can lead to depression as well as financial problems.
49% of Americans have a good opinion about the gambling casino industry
A record number of American adults (49%) approve of the gambling casino industry, according to a national survey conducted by the American Gaming Association.
Perhaps caused by the Great Recession, Americans in recent years have begun to see the casino industry as beneficial to local economies. They also believe that this industry is beneficial for areas with casinos.
71% of Americans believe that casinos create jobs. And while 49 percent of Americans say communities are supported by their local casinos, 57 percent think casinos are good for local economies.
This increase in approval in favor of gambling comes along with a big boost in casino visits. Many people today believe that the casino industry offers high-quality and innovative types of entertainment.
In fact, 44% of older Americans visited a casino in 2019. This equates to about 124 million people. These numbers are significantly higher than the 35% in 2018.
49% of American adults also said they plan to visit a casino to gamble over the next twelve months, up 20 million from the previous year.
Finally, two out of three Americans believe that the casino industry provides high-quality entertainment, and 63% of people believe that the entertainment opportunities offered by casinos are innovative.
Over $18,226,355,000 per year is spent on gambling in the UK
In the UK, gamblers spent about 14.5 billion pounds, between October 2017 and September 2018, which is about 18.4 billion dollars. This includes sports betting, horse racing, bingo games, and National Lottery tickets. Online gambling receives the most revenue of 5.6 billion pounds, which is almost 40% of all betting money. This includes online casino betting, games and bingo applications.
In the same period, nearly £3 billion was spent on National Lottery tickets.
Lottery vs Player
According to Michael Shackleford, known as the “Wizard of Chance”, the lottery is the worst game you can play. The predominance of gambling over the player here is a staggering 50%.
Compare this to blackjack, where the advantage is only 0.5% when players have some basic strategy. Even when playing roulette, you have a better chance than in the lottery. In this game, the advantage is a little over 5%.
Why does this matter? Once you realize how slim the lottery odds are, you’ll probably think twice before getting a lottery ticket. So the next time you think about buying lottery tickets, think about spending your money more wisely and go have fun at a blackjack table.
