Did you know that the chances of losing your money at a casino are also influenced by the country you’re in?
If you’re one of those superstitious gamblers who thinks his luck depends on what day of the week it is, which tie or watch you’re wearing, which slot machines you play or where you sit at the blackjack table, we have news for you: none of these really matter, because they don’t have any influence on your casino winnings.
But you know what might though? Your actual geographical location. Researchers have compiled the latest gambling statistics to create a list of the countries where players lose the most money. And here they are:
Gamblers just love to bet on sports in Spain. About 60 to 65% of all bids placed on the grey market go towards sports wagering, with casino games and poker being far less popular. Reports show that an average of $418 per person is lost every year in this country, but this is good news for the government, which gets to cash in serious amounts of money. The state even imposes a high 20% tax on lottery prizes over EUR 2500.
After the European Commission ordered the government to change its monopolistic Greek gambling laws, the state-owned firm – Organisation of Football Prognostics S.A. – was sold to make room for the Czech-Greek group Emma Delta, which now holds a 33% stake. Considering that Greek players managed to lose $2.3 billion last year, that is one lucky company. That’s $420 per person, every year.
Gambling is legal in Norway, but only under very strict conditions. Even so, local players lose $448 per person per year in the Scandinavian country. Under Norwegian laws, banks aren’t allowed to authorize transactions between local players and foreign online or land-based casinos. Gamblers have one and only option: state-run firms. And they’re big spenders too.
7. Hong Kong
This special administrative region only allows gambling through the Hong Kong Jockey Club, so players can only bet on horse racing, football matches, or buy lottery tickets. With $503 in annual losses per person, the club is not only Hong Kong’s largest taxpayer, but its largest employer too.
The country is not just a popular destination for tourists, but also home to the largest gambling market in Europe. Ten years ago, the Italian government adopted more relaxed policies, which lead to a twenty-fold increase in gambling activities across the state. Again, casino companies and the state have much to gain from the $517 per person lost every year.
This country has a gambling monopoly divided into three organizations. All profits go towards social improvement, so at least the $553 per person lost every year go to a good cause, namely social and health care organizations.
Gambling is legal in every part of Canada, but each province has its own laws regulating the industry. Sports betting and skill-based casino games are the most popular forms of gambling, but local players don’t seem to be too good at them. With an average of $568 in yearly losses per person, the industry is a big revenue generator.
Casinos are illegal in Ireland, but the law does allow some private clubs to offer casino games and the industry is thriving. However, the country is mostly known for sports betting. This huge passion for wagering on football, horse races and other types of sports and novelty bets results in annual losses of $588 per person. So much for the luck of the Irish!
Gambling in land-based venues is restricted in Singapore, but the state’s two casinos – the Marina Bay Sands and Resorts World Sentosa – are generating massive profits. They are mostly targeted at tourists, but for a $100 entry fee, local can play too. These venues are also responsible for an estimated gambling loss of $1, 174 per person per year.
Here are some of the most reliable online casinos in Australia:
The economy is strong and stable Down Under, which means that Australians can afford to lose some cash on failed wagers. About 80% of adults do engage in some form of gambling and they’re very lucky if they win, because the government does not impose a tax on these prizes. However, this probably happens quite rarely, as Australian players lose the most money – an average of $1,288 per person per year!
For some inexplicable reason, these are the countries where players end up losing the most cash. You might want to avoid them or maybe just learn how to manage your bankroll efficiently.