The countries with the highest gambling losses

According to a survey conducted by the National Council of Singapore in 2017, the average annual loss in the country is around $725.

13:25 28 January 2024

Australia

Due to the high number of gambling machines in the country, Betlabel Australia has the dubious distinction of being the world's most gambling-addicted nation. This is also attributed to the country's widespread popularity of gambling. Singapore, but, has taken various steps to curb its gambling habits.

According to H2 Gambling Capital, Australians lose $1,200 annually, which is almost twice as much as what Americans lose. Their gambling losses surpass those of Singapore and are more than 50 percent higher than those in the second-ranked nation. Due to the growing public debate about the country's gambling addiction, some people are advocating for a total ban on the industry.

Venue operators are lobbying for support from the state governments, emphasizing how much revenue these types of machines generate.

United States

Due to the high number of gambling losses in the US, the country has been regarded as the most gambling addict in the world. There are over five million problem gamblers in the country. It is also believed that about 500,000 teenagers are affected by gambling. Although it may seem like a fun and relaxing activity, gambling can have serious consequences. In the US, it is estimated that the annual losses from gambling are around $100 billion. Both men and women tend to accumulate large debts.

Unfortunately, many of them are unable to pay back their debts, which often leads to health issues and job loss.

Finland

In 2017, Finland was ranked fourth in Europe in terms of gambling losses per capita.

Individuals in the country lost about $515 in the previous year, and most of them gamble. Yet, excessive gambling can result in financial, health, and social problems.

It has been estimated that there are thousands of problem gamblers in Finland. The government should put in place regulations and provide access to treatment programs to help these individuals.

Due to the increasing number of gambling establishments in Finland, many have created dedicated teams that are focused on preventing the harmful effects of gaming. They also introduced tools and algorithms that can help players manage their finances and identify if they are experiencing an addiction. Too, Veikkaus, the country's betting monopoly, recently introduced a policy that limits the largest amount of money that gamblers can lose.

Hong Kong

Hong Kong is considered one of the most gambling-addicted cities in the world. Male residents reportedly spend a lot of money on various types of sports betting, such as horse racing and casino games. It's believed that playing such games can make one feel addicted even after losing.

Individuals caught gambling illegally in Hong Kong could be fined up to HK$5 million. Those with a criminal history could be penalized with a fine of up to HK$230,000. The illegal gambling industry in the city has reportedly generated over HK$12 billion.

In response to the growing problem, the authorities in Hong Kong recently apprehended a bookmaking organization that was allegedly controlled by a triad group. The group was accused of operating an illegal bookmaking business and laundering money.

Greece

Due to its financial troubles, BetLabel Greece suffered massive gambling losses. In the previous year, it lost about $2.3 billion. To pay its debts, the government sold off some of its assets.

One of these is OPAP, which is a state-owned gambling company. Greece's government sold a 33% stake in Emma Delta, a Czech Republic-based company, in August last year. The country's privatization program has raised concerns due to its lack of transparency.

Singapore

According to a survey conducted by the National Council of Singapore in 2017, the average annual loss in the country is around $725. The data collected showed that about a percent of the country's population suffers from compulsive gambling. It was estimated that around 28,000 individuals are afflicted by this disorder.

The country's gambling industry is expected to grow due to the emergence of two prominent integrated resorts: Resorts World Sentosa and Marina Bay Sands. These two facilities are expected to contribute a huge part of the country's gaming revenues. Nonetheless, the numbers might not be encouraging, which suggests that the industry may have to explore other avenues for expansion.