June 25, 2022

Europe vs USA: The Great Gambling Battle

Pin It

Today, people are constantly looking for ways to have fun and stay entertained while enjoying different stories and adventures without being bored. Fortunately, the gambling industry has been continually improving to serve the needs of different people, which explains its exponential growth over the last five years.

According to statistics, over 25% of the global population enjoys this pastime, meaning that over 1.9 billion people worldwide like wagering regularly or in their free time. According to a study done in the UK, gamblers are looking for instant gratification, simplicity, and an engaging experience with the prospect of winning. All these features are evident on leading casino sites like Betway, which explains why every major bookie has a mobile app for accessibility.

That said, it’s not surprising that gambling experts predict that the online market will be worth over $125 billion in 2027, with US and Europe being among the leading global markets. However, gambling in the US and Europe might differ in several ways. Here’s a quick preview of the two betting markets.

USA Gambling Market Facts

The US is among the world’s top gambling markets in revenues. The country’s online casinos are increasingly becoming a crucial part of the global gambling industry, despite strict regulations in the past. In 2021, the US gambling market was worth over $44 billion, with land-based casinos dominating the market as tourists returned to Las Vegas and other casinos across the country. However, online betting also grew significantly throughout the year, accounting for over $2 billion in revenue.

While the US online betting industry didn’t hit $4 billion as expected by experts due to slower legalization, several states like Delaware and New Jersey have legalized online casinos and more are jumping into the bandwagon. Fortunately, there’s no federal law that makes online gambling in the US illegal, and a lot of citizens are wagering on sites like Betway and other platforms legalized locally and overseas.

Europe Gambling Market Facts

In Europe, gambling has been a huge business for several years with hundreds of land-based and online casino operators offering their services to players in the market. The market features several regulatory authorities, making it the most competitive and the largest on the global scale. This market accounts for 49% of the global gambling market, remaining stable for over a decade despite strict regulations elsewhere.

In the EU, online gambling accounts for 24% of the global gambling revenue in all the 28 member states. The market is growing by 10% annually, with revenues expected to exceed €29 billion by the end of 2022. As a result, the market will grow by almost €4 billion compared to the revenue reported in 2020. Fortunately, there’s no specific legislation required for gambling in the EU as all member states operate their gambling activities autonomously.

USA vs. Europe Betting Markets for Gamblers

Currently, the European gambling market stands ahead of the US betting industry, as not all American states have embraced the market. EU countries also account for almost half of the global gambling market, while the US accounts for only a tiny fraction of the numbers brought in by the European market. Fortunately, online gambling has made it possible for gamblers to bet on sites regulated by US authorities and other jurisdictions in the EU.  

Print Friendly, PDF & Email
About ieyenews

Speak Your Mind

*