America and its gambling love story

Gambling is not just a fun way to pass the USA's time; it is a thriving industry. In terms of the volume of gambling, only a handful of countries can match the level of gambling in America.

Over 85% of adult Americans have admitted to gambling at one stage or the other in their lives. America is ranked 2nd behind only China globally for online gaming revenue in Newzoo’s 2020 Global Games Market Reports. Online Casino real money habits in the USA generates a mammoth $39 billion.

Legally, gambling is allowed under federal laws, but the central government allows states to regulate gambling laws themselves. As of today, Utah and Hawaii are the only states to outlaw all kinds of gambling.

Most popular forms of gambling in America

Online Casino Real Money Gaming: This includes a subset of top-rated games like slots and poker. Casinos are still the most traditional methods of gaming in America. In Las Vegas alone, casinos bring in over 10 billion dollars from people placing bets. Slot machines are top-rated among both land online platform users. 68% of the people who gamble play slot machines most often.

Lotteries: Based on the sheer volume of partakers, lotteries are the most post-popular gaming types in the US. About the country, buy lottery tickets every year. Lotteries are popular because of their low-stakes nature, so even states with strict laws make exemptions for them. Only in six states are lottery tickets illegal.

Sports Betting: America has a rich history of sports, but Sports betting was only just legalized in 2018. But it has since become the fastest growing area of gambling in the states. Despite the Coronavirus hitting the gambling industry hard last year, sports betting continued to thrive and enjoyed a 68.9% increase in year-over-year growth. The volume of wagering (up to 90% in some states) done online has allowed it to adjust to lockdown restrictions to physical betting houses. New Jersey was the first state to take advantage of the amended laws and reap the benefits.

The gambling demographic

In terms of gender distribution, women are not behind in the percentage of gamblers, but men gamble more than double the volume. In a 2020 survey, LiveRoulette said 82% of online gamblers were male. Women typically gamble for fun - 95% of women are escape gamblers- and prefer games with less skill like slots, lotteries, and bingos.

The majority of gamblers are middle-aged, between 35 to 50 years. The legal age for gambling varies across states but is often tied to alcohol restrictions, usually 21 years. Preferred games also vary by age. Bingos, slot machines, and lotteries often appeal more to the elderly population.

It's no surprise for state distribution of gamblers to see states like Nevada, New Jersey, and Louisiana out ahead of the queue. Nevada is essentially the home of casinos in America as they were the first state to legalize gambling. It is home to ever 300 casinos and has become a hub for states citizens and people from all over the world. Over 75% who visit the state yearly go there to gamble. Nevada and Louisiana are still the only state Casino gaming revenue in Nevada reached over 10 billion U.S. dollars year-over-year from 2011 until 2019.

Also, states with a substantial Native American population tend to participate highly in gambling. Tribal lands are exempt from state jurisdiction, so they are free to build casinos. People can bet freely in Indian casinos in states like Alabama and Texas, where gambling is otherwise restricted. There are 524 Indian casinos spread across 29 states in the country, and they contribute 43% of all casino gaming revenue in the U.S.

So is gambling a problem in America?

Many surveys have the percentage of pathological gamblers in the country at 1%-2%. Although no problem gambling level should be ignored, this does mean that America finds itself on the low end of the global range, which goes as high as 5%. More worrying, though, is the increased rate of exposure to young adults. Adolescents and college students are twice as likely as adults to have problems with gambling. Online betting and aggressive online ads mean that more teenagers are now more prone to fall into a gambling habit.

The takeaway

Despite some confusing laws and heavy restrictions on gambling in some states, it can be said that gambling goes on in one form or the other across the country, including Hawaii and Utah. Social gambling is not illegal in Hawaii, and Utah gives exemptions to games that require skill rather than luck.

This article does not necessarily reflect the opinions of the editors or the management of EconoTimes