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September 29, 2020

The gambling industry in the USA

According to research, the global gambling market in 2018 is worth nearly $449.3 billion. This market has grown annually at a rate of 4.1%, and by the year 2022, its growth rate is expected to reach 5.9%. Rapid urbanization, free trade, favorable economic policies are some factors known to have influenced its growth.

The statistics in this article are provided by Casino Bonuses Index™.

It is safe to say that the global gambling industry is instrumental in global economic growth. With that in mind, let us examine the growth, development, and contribution of the gambling industry in the United States to the global gambling market.

Statistics About Gambling Industry in the USA

The statistics from the American Gaming Association give us certain information on the gambling industry in the United States. The association furnishes details of 2018, opining that the industry is worth $240 billion. Still, in 2018, the number of people employed as a result of gambling in 40 states of the United States is 1.7 million. States and local tax revenues collected from gambling taxes in 2016 amount to $8.85 billion.

Now getting to some specifics, 48 states in the United States have legalized gambling. For all we know, only two states, being Utah and Hawaii, have not done so. Furthermore, the largest casino company in the world in 2017 is known as Las Vegas Sands, situated in Las Vegas, in the Nevada State of USA.

Based on research, 85% of Americans in their lifetime have gambled at least once and in the previous year. When a casino is taken into context in 2010, 25% of Americans aged 21 and above are known to have gambled in the past year. The lottery is also the most popular form of gambling nationally; an estimated 49% of Americans played lottery within the past year, according to 2010 statistics.

The Most Rich American People Thanks to Gambling Industry

Bill Benter, a mathematics genius born in Pittsburg, Pennsylvania, cannot be forgotten as one of the wealthy Americans who made a fortune from gambling. He was skilled in counting cards at Blackjack tables in Las Vegas, making gambling as much as 100 million annually.

How about Edward E. Thorp; he is a mathematics professor born in Chicago who has made $800 million from gambling. He is also known to have used computer simulation to develop a blackjack strategy, which improved his counting card odds. You can check his life on his website.

In Kentucky, Billy Walters is regarded as one of the most feared sports betters partly because he is known to have made the biggest sports bet of $3.5 million. Many thoughts fueled Billy’s sports betting skills: his lineage, father being a professional poker player, and his uncle being a gambler. His net worth is estimated at $200 million.

The Online Gambling Industry

Online gambling has wide appeal in the United States. For online casinos and sportsbooks, they are enjoying more and more patronage of the United States residents.A lot of websites provide a guide for online casino players in the United States. It is worth visiting if you need a guide in finding the best online casinos in the United States to patronize.

As the global online gambling industry continues to expand, participation from the United States citizens will continue to increase.

Tomas Soucek
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