The 12 months of 2016 were a harvesting period for the gambling industry across the U.S.
However, things were not the same for Australia. The 2016 report on aggregate gambling wins that hit $385 billion, the U.S. took the lead globally.
In Australia, gaming developers recorded big loses according to the annual survey.
The calculation was based on the average net loss that was incurred per resident thus when America gaming developers were making real money Aussie online casino gambling sites a goldmine, Australia was counting loses for 12 months.
The reports indicate that at no given time in history has any nation lost as much money per resident as has been the case for Australia. It is like the entire country is affected, according to the report.
On average, says The Economist, a journal that is published weekly in London, a single Australian resident who gambled in 2016, lost $990!
The journal reports that if the statistics are anything to trust, the lost amount is extremely high when compared to Singapore, which came in at position 2 as big losers.
In this Southern Asia country, every single resident who gambled in 2016 encountered a loss of approximately $650.
Other countries that were involved in the report on loser per resident cost include Ireland, which recorded $500 loss per resident, Finland, which recorded $425, and then the U.S. which came in at number five with $420 loss resident.
U.S.A. Is Still Gambling Giant
Although Australia seems to be losing a relatively huge amount of money every year per individual in gambling, the problem lies with the administration. With a population of 24 million people, Australian administration does not offer a conducive environment to casino superpowers.
In fact, the country’s gambling framework does not favor real casino developers. Rather than welcoming giant casino developers, the country keeps sending them away.
Many Australians who participated in gambling in 2016, made an aggregate loss of approximately $18.3 billion.
The U.S. is not in any way exceptional. Close to $117 billion were forfeited majorly by individuals who gambled from land-based gaming resorts. These individuals forfeited this huge amount when playing on slot machines, lotteries, and table games.
Underground Wagering Not Included
The report, however, does not include other intricate ways that Americans lost money in 2016.
With an exception of Nevada, all states in the U.S. consider sports betting an illegal activity. That does not, however deter gambling fanatics from putting their money on or against a team they support.
Underground wagering, which is still an issue across the U.S. is said to have cost Americans $117 billion in the 12 months of 2016.
China And Japan Perform Fairly
Although China did not appear anywhere in the top 10 or 15 list of losers, they also had their own share.
The report indicated that the Chinese lost nearly $62.4 billion to casino companies.
Japan on the other hand, lost $24.1 billion. It should be noted that land-based casinos are not yet in operation in Japan.
India, with a population of 1.3 billion, escaped the snare of gaming companies. The country’s residents spent less money on betting compared with countries like Singapore, the Netherlands, and Sweden, which are much smaller.