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November 12, 2020

The Gambling Industry in Ireland

There is an acceptance of gambling in varying degrees. The government also played significant roles in its legalization. Most states and countries regulate the act instead of trying to stop people from betting altogether. In Ireland, gambling is quite free. The industry is growing and Irish players enjoy almost every form of gambling. The laws guiding its practices and operations are left to the local authorities. There are very few issues against the betting industry in Ireland. It is one of the major sources of direct and indirect revenue. The industry has also created jobs for the Irish people.

Statistics About Gambling Industry in Ireland

To better understand the strength of the gambling industry in Ireland, we will use numbers to state many factors. Here are some statistics about gambling in Ireland. These statistics are provided by Bet in Ireland Casino.

The authorities have issued at least 32 licenses for gaming machines annually since 2018. The government now taxes gambling operators 2% of their revenue as against the 1% that operators were previously charged. With a market estimated at around €1.1 billion per year, gambling is arguably one of the biggest industries in Ireland.

The following forms of gambling account for the €1.1 billion. Gaming machines account for €134 million, €315 million is made from land-based casinos, €310 is estimated to be made from the lottery, bingos are estimated at €8 million while online casinos account for the rest. The Irish gambling industry did not boom till 2015. This was not a coincidence considering that online became legal in 2015.

The online gambling industry is valued at almost €230 million. Entertainment centers are considering adding gaming or gambling machines to their premises. However, it does not seem like it will yield serious dividends. The competition is already high as there are already established land-based casinos. Over 82% of these operators also observed that people are moving towards online casinos as stated in another related article.

Looking at the stats, it is hard to argue against the growth of the Irish gambling industry. This industry competes with the US gambling industry in terms of revenue generated. Despite the high number of people gambling in Ireland, only about 5% of the Irish gambling populace are gambling addicts. There are professionals dedicated to helping individuals with compulsive behaviors. There is also a center for gambling addiction treatment in Calgary.

The Richest Irish People Thanks to Gambling Industry

Gambling poses a money-making opportunity and many Irish people have become rich from taking advantage of this opportunity.

Marty Smith is an Irish poker player. From his early teenage years, he has started playing poker. He played three times at the final in one of Europe’s biggest poker events and even won once in 2007. Marty also received the honorary WSOP bracelet.

Donnacha O’Dea is a former swimmer that represented Ireland at the Olympics. He is also known as the “Don” of professional poker players. O’Dea has an outstanding and lengthy professional career. He played at the final table of the 1983 WSOP Limit Hold’em event. He received the honorary WSOP bracelet in 1988 after defeating Jonny Chan at a WSOP Pot Omaha event.

Noel Furlong is also another player who has made quite a fortune from gambling. He is a businessman who loves to gamble. Although he gambles for fun, he has also won a lot from gambling. He was able to finish first in the WSOP main events after defeating other professional players.

The Legal Situation of Online Gambling in Ireland

Betting has always been an important part of Irish culture. Dice believed to have been used for gambling have been found at many historic sites. It may sound shocking but casinos are illegal in Ireland. There are no establishments that operate exclusively as land-based casinos to the public. The land-based casinos in Ireland are private clubs.

The idea is to regulate the people allowed to play at these private clubs. They are allowed to provide betting machines and tables to their members. Members are also expected to register with the private clubs before they can access or use their gambling services. These land-based or private casinos are mostly found in major cities.

On the other hand, horse racing is an important part of Irish culture. Betting on horse racing has always been legal. Although it was only possible to place your bets at specific channels in the past, you can now place your bets through multiple channels. You do not have to walk to betting counters.

Betting on games of chances is very legal in Ireland. After horse racing, soccer, Gaelic football, dog racing, and golf are popular forms of betting in Ireland. The government permits both local and foreign companies to provide betting services to the Irish people.

Lotteries are also very legal in Ireland. They even started as a government venture in Ireland. It wasn’t till 2013 that private companies could provide lottery services to the Irish people. Online casinos are also legal in Ireland. This also contributed to the growth of the online Irish gambling industry. Betting companies must get licensed before they can operate in Ireland.

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