Key Facts and Figures About A Little Known Industry
Gambling is not a new venture, and now that the Internet facilitates more platforms for gambling enthusiasts to engage in this captivating, yet addictive leisure, more people are expected to be drawn into this game of luck where the chances of losing, more often than not, outweigh those of winning. Yet, many people still line up in casinos to sample their latest additions in pokies, gaming tables, and other wagering activities, and this is precisely why forecasters are expecting to see an exponential growth in the gambling industry in the near future.
Australia has been one of those countries that has boasted problem gambling for a long time now, and this is mainly due to the penetration of this activity into the entertainment sector. Let’s find out more.
Gambling Industry Fueled By Profits
Guess how much the most profitable gambling company rakes in each year? William Hill, who is among the top grossing players in the gambling industry, brings in over a billion dollars annually. Yes, that’s more than what many countries in the third world earn every 365 days. Even though the gambling industry generates billions of profits annually, it is yet to be regarded in a positive light in many parts of the globe, and that’s not all; there are many more facts about the gambling industry that’ll knock you down with a feather. Hold tight as we delve further into the gaming world to bring you in on the latest facts and figures about the gambling industry.
Slang for poker machine, pokies are the electronic table games available in most casinos. There are more people playing pokies online since it’s more accessible than land based casinos. You can play more Australian pokies here. These electronic game machines account for more than 60 per cent of the gambling industry. The electronic game machines also account for about 80 per cent of gambling addiction in Australia. Even though lotteries and other scratch games are extremely popular with the gambling community in Australia, they do not account for the majority of the gambling revenue. In fact, pokies are the dominant revenue source of gambling.
Even though it is not widely accepted as a positive leisure activity, it is not surprising to know that millions of people are in one way or another involved in gambling. In fact, approximately 70 percent of the people in Australia have participated or are planning to indulge in gambling activities. Considering that there are many forms of gambling, the most popular ones being lotteries, scratch games, pokies, and table games, there is a game piece for everyone to enjoy according to their preferences.
With more games being churned out daily to quench the gambling thirst of enthusiasts out there, you just can’t run out of options on where to wager your bank roll when it comes to gambling. It’s no wonder the major stakeholders in the industry are reporting mega profits accrued from this lucrative business.
In Australia, over half a million people enjoy a game of pokies at least once each week and, out of these, about 100,000 have a problem with gambling. Even though not all games are addictive, such as scratch games and lotteries, the surprising fact is that the risk associated with these games tends to increase with the frequency of wagering on pokies and other table games.
And while it is known that problem gambling has adverse effects including depression, loss of employment, suicide, crime, strained relationships, and even bankruptcy, more people are still getting drawn into it, perhaps because of the get rich quick opportunity it offers them. However, research has shown that the most common fraud motivation for most culprits was gambling, whereby people stole from unsuspecting victims to finance their gambling addiction. An Australian paper wrote that gambling is killing one Australian a day.
In Australia, the gambling industry grossed about 18 billion annually in 2008 and 2009, and the government collects about 5 billion in taxes from gambling each year. Victoria State has the highest dependence level (about 13 percent gambling dependence) and lowest dependence is recorded in Western Australia (about 5 percent gambling dependence).
Even though it is not widely accepted as a positive industry, gambling continues to give back to the society by providing employment opportunities to many people in Australia. In fact, the gambling industry employs over 120,000 people, and this reflects the number of employees in hotels, clubs, casinos, and other establishments that provide gambling facilities.
In conclusion, we’ve seen the surprising stats drawn from the gambling industry. Even though it provides myriad opportunities, including jobs, tax revenues, and massive amounts of profits for the stakeholders in the industry, it also has some adverse effects including addiction and other problems such as a change in character where one may be hard pressed to steal from others just to maintain their gambling activities. And, even with all the benefits this lucrative venture has, the industry is yet to win the hearts of many who still perceive it in a negative way.