MK sports-UK H2 Gambling Capital: Chinese gamblers lost $76 billion in 2013

MK sports-UK H2 Gambling Capital: Chinese gamblers lost $76 billion in 2013

The upcoming World Cup is a festival for fans as well as gamblers. According to industry statistics in 2013, the global gambling market has reached 440 billion US dollars. Although the scale of legal sports betting is relatively small, about 30 billion US dollars, the scale of illegal sports betting is 20 times that of the legal market. It is estimated that the scale of the entire sports betting industry is as high as 700 billion to 1 trillion US dollars. So where does such a huge amount of gambling funds come from?

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According to data released by the British H2 Gambling Capital Company, Australia is the country with the most gambling losses in the world, with each adult Australian losing more than $1,000 on average in 2013. Singaporeans lost more than $900 per person on average, second only to Australians. Finns ranked third. Due to the large population of mainland China, only a few people can go abroad for legal gambling, so the amount of money lost per capita did not make the top 20.

In terms of overall size, the United States is the world’s largest gambling market. In 2013, Americans lost a total of $119 billion, accounting for a quarter of the world’s gamblers. However, the market share of the US gambling industry has dropped from nearly a third 10 years ago to a quarter. Although the American people have a high participation rate in gambling, the per capita gambling amount is not the highest, and the revenue that American casinos get from individual guests is also much inferior to that of other regions. Mainland China is closely behind the United States. In 2013, its gamblers lost a total of $76 billion overseas, jumping from the 10th largest market in 2011 to the second largest. It is estimated that mainland China will surpass the United States in 2020 and become the largest gambling market.

Since gambling outside of the mainland is illegal except for official lotteries, gambling abroad has become an important outlet for Chinese gamblers. Many Asian countries regard Chinese guests as gods of wealth and try their best to attract Chinese guests, and the generosity of Chinese guests also makes casinos profitable. The biggest profit from Chinese gamblers’ overseas gambling is Macau. Driven by Chinese tourists, Macau’s gambling revenue has hit new highs in recent years, and in 2006 it surpassed Las Vegas, the gambling city of the United States, to become the world’s number one gambling city. According to official statistics from Macau, in 2013, a total of 29.3248 million tourists traveled to Macau, of which 63.53% were Chinese tourists. In the same year, gambling revenue reached US$45 billion, an increase of 18.6% over the previous year. This amount is more than four times the gambling revenue of US$10.396 billion in Nevada, the most developed gambling industry in the United States last year. In addition, Macau’s revenue from each gambler is as high as US$1,354, far exceeding the two major congested cities in the United States, Las Vegas and Atlantic City. Other countries in the Asia-Pacific region have also benefited from this, such as Australia, the Philippines, and South Korea.-MK sports