When somebody mentions gambling, the first thing that crosses your mind is Las Vegas city in the United States. This is just a stereotype that has made many people believe that the United States has the highest number of gambling citizen. This article exposes the hidden secrete behind gambling. Do not get surprised that some of the nations that do not exhibit any trace of gambling activities are the most affected by gambling activities. Some people do it for fun, but the majority of gamblers consider it an economic activity. The following list of the top 10 worst gambler nations considering the total losses annually on gambling.
Table of Contents
Table of Contents
On average, an adult in Spain loses $418 on gambling. This fact places the nation at the tenth position on the list of the most gambling nations. Gambling becomes legal in this country in the year 1977 in general. However, slot machine gambling, which is also known as gambling of pure chance found its way into the country legally later in the year 1981. The Spanish love betting and they would bet on anything starting from lottery to card to football. It is in Spain that a charismas lottery is commonly known as El Gordo or if you like Fat One gave out more than $ 1 billion regarding prizes.
This is something that has never happened in any other part of the world. Last year alone, approximately 5 Spaniards bought tickets for the mentioned lottery even at prices of 200 Euros. Running a gambling business in Spain is a jackpot of its own. The lottery loving citizens of Spain made the organizer of the draw a proud owner of 10 billion Euros in revenue last year which is an equivalent of $14.4 billion. The government is considering the sale of 30% of the company to help raise funds to aid in covering the fiscal deficit that currently faces the country.
As surprising as it may sound, Greeks is another country that is greatly affected by gambling. An adult in this country loses $ 420 to bet on average. When it comes to gambling, the nations have something to boast about. The legendary gamble of all time, Nicholas, also known as Nick the Greek was from this country. The gambler died almost penniless at 83 in the year 1966 after losing all the winnings. If inflation rates are used to adjust his winnings, then it would worth approximately $500 million by the year 2009.
The Greeks’ most favorite way of gambling is lotteries, and in the year 2010, the joker lottery managed to collect a record jackpot of nineteen million Euros. It is no surprise that this nation also hosts the largest gambling company, OPAP, which boasts of a market cap of approximately 4.1 billion Euros. The privatization of the company was in its final stages by the year 2020. The sale of the company could help the government offset some of its debts.
Norway is not any different when it comes to gambling. It is approximated that an adult in this nation loses about $ 448 to gambling. The most popular modes of gambling in Norway include football bets, slot machines, scratch cards and also lotto. A survey that was conducted by the government in the year 2008 found out that 88% of Norway citizens are lifetime gamblers. Furthermore, the researchers discovered that young men who had previously played on gaming machines had a frequent occurrence of betting addiction.
The government has made attempts to limit access to gambling, a move that has seen the number of slot machines reduce from 22,700 in the year 2007 to 10,000. This is not a success in any way as the gambling was only transferred to online operations. The gamblers switched to playing poker online, and the government is now threatening to filter all the online gambling operations.
Surprisingly, even though the government is making efforts to reduce the number of gambling population, there exists a state-owned gambling company, Norsk that is under the control of the Ministry of Culture and church affairs. This makes me wonder if gambling is part of the culture or is it part of church affairs. All said and done; the company still posted revenue of $2.1 billion last year.
7. Hong Kong
$503 is lost to gambling by every adult citizen of Hong Kong on average. If you sum up this figure with the total population of the country you can imagine what that amount of money can do when it comes to national development. Even though casinos are illegal in Hong Kong, the law does not apply to Macau which is just one-hour boat ride from Hong Kong. It, therefore, should not surprise you that in the year 2011, more than 500,000 citizens of Hong Kong paid a visit to Macau. You must not know that not all forms of betting are illegal in the country as the government still recognizes some gambling forms that include soccer betting, lotteries, and horse racing.
Medical research has revealed something that I least expected. Can you believe that one out of every 20 citizens of Hong Kong have a gambling disorder? I did not know that gambling can become a disorder. Within the country, there is a Jockey Club that organizes the major draws and also does cultural fixation. The club hosts 700 races in a single year. In the year 2010, it managed to earn $2.7 billion in betting and lottery revenue. Another study that was conducted by a Gamblers Counseling center found out that out of 1040 students, more than half of them were introduced to gambling by their parents and 41% of them stated betting at a tender age of six.
Gambling in Italy is not something that has a brief history. It is in this nation that the game of Baccarat was invented. That is not all as in the year 1638, Italy becomes the first country to have a government-sanctioned casino in the whole of Europe. The casino was named Ridotto. However, the casino was closed by the Venetian government in the year 1774 in attempt to preserve the city’s discipline and regulate behavior. Given the rich history of the country when it comes to gambling, it should not surprise you that on average, an adult loses $517 to betting in Italy.
Their favorite form of gambling is the use of electronic gaming machines which include slots. Just to emphasize how serious gambling is considered in Italy, electronic gemming generated 50% of the total gaming revenues within the first six months of the year 2010.within that period, gaming revenues totaled to $22 billion.
The Ministry of Social Affairs and Health in Finland reports that more than 41% of the adult population of the country takes part in gambling activities every week. Gambling is deeply rooted in the country such that even children took part in the menace before the government raises the minimum age for gambling from 15 years old to 18 years old in the year 2011. The change of age limit was done in effort to discourage gambling among children. Even though the government tries to discourage gambling in Finland, there still exists a government-run gambling company which is under the control of the Ministry of Education.
The revenue collected from the gambling company is channeled to arts, education and culture. At least there is a gambling company in Finland that care about the addiction that comes with gambling. The Paf group that runs online gambling company rewards its loyal customers who spend more than $171.40 on the gambling site and are proved to have gambling addiction. On a second thought, I don’t really believe that the company cares much about the addiction so long as they can continue making money. The reward may just encourage the gamblers to gamble more. on average, an adult in Finland loses $553 to gambling and that is money that you cannot possibly earn within a short period of time.
I know that Canada looks so quiet when it comes to gambling but that is not the case. More than three quarters of the adult citizens of Canada participate in gambling in one way or another. The majority of the gamblers in this country come from a place known as Saskatchewan which is a province in Canada. The province raises revenue of approximately $841 from every adult citizen. As much as it is not talked about like we talk about gambling in Las Vegas, this province seems to run basically on gambling. The most popular forms of gambling in Canada include scratch and win and lottery.
The gambling in Canada is so serious that minors would get lottery cards as gifts for their birthdays. The government has made steps to discourage gambling especially among the young population. The first step was to discourage giving lottery tickets to children as gifts. A Canadian adult loses an approximate of $568 in gambling and that is not news anymore as gambling to some extent has become a way of life for some people.
Ireland is literally struggling to regulate gambling in the country. The casino business is currently unregulated as the country is counting on the gaming and lottery act of the year 1956. In accordance to the country’s legislation, only registered members’ clubs are legally allowed to provide casino services. When it comes to bets on gaming machines, bets are only allowed below 6 pence while the rewards for gaming ore only allowed up to ten shillings. The laws look good on paper but have minimal impact or no impact at all on the situation.
The country’s currency has not been in use as the legal tender since the year 1999 leaving a loophole for the gambling activities to flourish. Adults in the country make huge losses as a result of gambling. In the extreme cases, an individual would make an average of $588 loss to gambling. As a result, the government is taking new measures to regulate gambling through enacting new laws to control gambling activities in Ireland.
Singapore has a concise history of gambling with the first casino opening its doors in the year 2010. However, gambling activities have spread in the country like a bushfire, and within a brief period, the country was among the top gambling countries of the world. The rate at which casinos were spreading in the country got the government worried with many people fearing addiction to gambling and losses. Some of the measures that the government put in place to regulate local gambling by imposing an entry fee of $81 for the locals who wish to enter the casinos.
In addition to that, families are also allowed to restrict their members from taking part in gambling activities in a legislation daubed “Family Execution Orders”. From the look of things, the government should put more efforts if they have to win the war against gambling since the current legislation seem to have a very minimal impact on the current gambling situation in the country. The nation recorded an average loss of $1174 per adult in the year 2010. This is extreme!
I know am not alone in this. Initially, I thought that the USA would be the country with the highest number of gambles but on the contrary, the united states are nowhere close to the top ten most gambling nations. At the top of the list is Australia. At a glance, you might not realize how intense gambling activities are in the country. However, a more in-depth look exposes the hidden fact that an adult in Australia loses $1,128 to gambling on average.
The Central Bank of Australia even increased interest rates just to curb the gambling vise, but from the look of things, a lot is yet to be done to control gambling. The most favorite forms of gambling in the nation include slot machines and poker. New South Wales hosts more than half of the country’s poker machines . The government has banned more than 935 gamblers from participating from gambling, but they cannot just resist the temptation. Between 2006 and 2010 these people were caught more than 1200 times for breaching the ban.
The facts around gambling activities is that very few people become wealthy as a result of gambling, but the majority are always left penniless. It is not advisable to consider gambling an income generating activity or even an investment. While it is true that some towns have come up as a result of gambling, individuals must remain careful not to find themselves in the gambling addiction trap. If you have to gamble, do not risk with money or an asset that you are not prepared to lose. The adverts on gambling site will always talk about winning, but they will never tell you that the majority of the participants lose. Choose wisely!