America's luck-driven economy: a $100B jackpot

In terms of country, the most significant individual gambling market in the world remains the US–worth around $100 billion in revenue according to 2023 figures released by the American Gaming Association –but with more states recently updating their laws to allow gambling, many analysts and experts believe this figure is set to grow between now and 2030. 

Gambling industry experts believe the global market will reach $1 trillion by 2030, comprising 1% of the world’s GDP. However, in the last 20 years, there’s been a phenomenal surge in online gamblers taking to the digital casino tables and sportsbook markets, elevating the market to new highs and creating new ways to play. Data provides a crucial tool for those in the industry looking to understand the market's current state and where it could be heading. 

CasinoTopsOnline has delved into every area of the global gambling statistics. From social casinos to alternate payment methods like crypto and intriguing data emerging from budding new gambling markets and everything in between.

As of Q3 2024, the global gambling market is hovering around the $775 billion mark, with projected annual growth of 3.7% until the end of this decade. Breaking these gambling statistics into two distinct categories–country and type–the figures highlight the key markets that drive most of the activity.

• United States—A growing sports betting market is solidifying the US presence at the top of this list, accounting for $11 billion in bets in 2023.
• Macau—figures released by the IMF and published by the Financial Times highlight that Macau’s economy grew by 80% last year and is set to grow by over 13% in 2024. Craig Billings, CEO of Wynn, said in 2022: “The latent demand for Macau is undeniable. I remain excited about Macau's long-term prospects.”
• Australia—The Australian Institute for Health & Welfare stated that Australians lost $25 billion in 2023, the highest per capita loss of any country.
• Singapore—Singapore’s National Council on Problem Gambling revealed in 2017 that Singaporeans, on average, lost $725 to gambling. This makes them the third highest in the world and one of the top five gambling markets per capita.
• The United Kingdom—Brits gambled away over $19.5 billion in 2023, making them one of the driving forces behind the global gambling boom.

Some countries on this list don’t come as a surprise, but the sheer size of Macau and its gambling industry (six times bigger than Vegas) often take people by surprise. If there’s one thing we can take away from these stats, it’s that the market is healthy across multiple international borders and cultures.

Online sports betting is the biggest subdivision of the broader gambling market. Between 2018 and 2023, the US and Canada devolved powers to state and provincial levels, respectively, which has led to a surge in the number of bettors with access to the sports betting markets.

Sports betting markets mirror the most popular sports. For instance, Statista revealed in 2024 that football (NFL) betting is the most popular market in the US, with $2.5 billion in annual revenue generated via sports betting platforms. 

Studies predict that by 2029, this number will nearly double to $5.0 billion—but if more states open their doors to digital sports betting, this figure could go even higher. 

We don’t see anything stopping the rise of the gambling industry between now and 2030. A perfect blend of US and Canadian markets warming up to the idea, consistent mobile gaming innovation, and greater interconnectivity of sports, social media, and market access all set the bedrock for an industry with significant growth potential.

About CasinoTopsOnline:

CasinoTopsOnline has been providing gamblers with safe, reliable, and in-depth casino reviews since 2011. Starting as a small team, we have stuck together over the years and shared our wisdom and skills to grow CasinoTopsOnline into the respected brand that it is today. The CasinoTopsOnline tagline, We Review. You Play. is a reflection of our mission to help you choose an online gambling site that works for you! From the very beginning, we have made sure to remain loyal to our core values.