5 FACTS ABOUT THE AMERICAN GAMBLING INDUSTRY

Gambling in America is a huge business. It is through gambling that previously isolated and sparsely populated stretches like Las Vegas and Atlantic city transformed into bustling cities. These two cities have become top gambling destinations for people from all over the world. As of 2017, the American gambling industry provided employment for 1.7 million Americans, while generating $38 billion in tax revenue. Apart from the typical casino gambling, America also boasts one of the biggest lottery jackpots in the world called the Powerball. And although the gambling industry is strictly regulated, it has been faulted for addictions, criminal activities and corruption. To give you more insight into the American gambling industry, we have compiled 5 facts that make it stand out from the rest.

Scott Manford, CEO of Wizard Slots, expressed his disbelief at the US Gambling market, saying: “I can’t understand why federal government doesn’t do more to open the boundaries of gambling state to state and provide an inclusive, safe and regulated industry similar to what we have in the UK. As a business operating throughout Europe and Scandinavia I’ll be watching closely at the developments across the pond.”

1. THE POWERBALL LOTTERY IS THE SECOND-LARGEST IN THE WORLD
The powerball is a state lottery conducted in all but six states in America. And the jackpot prize routinely gets to staggering sums. For example, the 2016 powerball jackpot was a record-high $1.6 billion. It is no wonder why it remains the most contested lottery in the country. The only other national lottery that eclipses the powerball is the Spanish lottery, commonly refereed to as El Gordo.

2. NATIVE INDIANS CONTROL 25% OF ALL LEGAL GAMBLING OUTLETS
In several American states, only tribal casinos are allowed to operate. This is mostly because Indian reservations are allowed to have a certain degree of self-governance, and are permitted pass their own local gambling laws. Such reservations are thus immune to the prohibitive national laws governing the setting up of casinos and other gambling facilities. As of 2017, there were 1975 legal gambling outlets, with 374 owned by Indian tribes.

3. GAMBLING IS PROHIBITED IN UTAH AND HAWAII
Utah and Hawaii have the most rigid anti-gambling laws in America. Casino games and lotteries are strictly prohibited by the law. Traditional Casino games such as poker and blackjack can only be played in social settings where no revenue is being generated. Even the state lottery is prohibited in these states, and residents wishing to take part in the Powerball have to travel to other states to buy tickets.

4. OVER 80% OF AMERICANS PARTICIPATE IN SOME FORM OF GAMBLING YEARLY
Americans love to gamble. It is one of the most deeply enjoyed national pastimes, whether in social settings or in casino halls. Las Vegas, which is generally considered to be the country’s gambling capital is among the top 5 holiday destinations in America.The country currently boasts the largest gambling market in the world. In 2016 alone, Americans spent over $116 billion on gambling. This love for gambling has unfortunately increased the level of addiction. It is estimated that up to 6% of American college students are addicted to gambling.

5. CASINOS GENERATE 0.5% OF AMERICA’S GDP
0.5% may not seem like much. But when it is a percentage of one of the world’s biggest economies, it amounts to a staggering sum. For example, the state of Nevada gets half of its total state revenue from the Las Vegas gambling outlets. And considering the fact that over 80% of Americans gamble each year, this valuation does not seem entirely far-fetched.


Categories: Earn Money Online

Leave a Reply

Your email address will not be published.

January 11, 2018 5 FACTS ABOUT THE AMERICAN GAMBLING INDUSTRY