The history of gambling goes back as far as we can remember, even though it may not have always been organized in casinos, for instance, but it has grown so much that billions of dollars are lost every year in these countries with the highest gambling losses in the world.
Gambling is something that is being done all over the world, with casinos popping left and right as if they were mushrooms after the rain. It’s a growing industry that rarely encounters failure, mostly because there are plenty of people willing to bet away their money on a number or a color.
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What’s worse, however, is that gambling can easily become an addiction that can get you in trouble. On the other hand, if you want to have a little fun and maybe even win a little money, there are plenty of ways to get that done – roll the dice, spin the roulette, play some cards – whatever floats your boat.
That’s the beauty and the curse of gambling – you can make a fortune or lose one. You never know how it’s going to end up, even if you’re highly skilled at whatever game you’re looking to play. There’s a saying about casinos, and that’s that they never ever actually lose even if you feel like a winner.
So, regardless of who you are, you might want to take a look at the numbers we’re about to give out and consider carefully if you’re going to enter that casino or not. While you’re at it, you may even want to take a look at another article we published regarding the 11 worst countries for gender equality.
To create the list we took a look at the countries where gamblers have the biggest losses. Since the 2015 numbers aren’t out yet, we’re basing it off of the numbers for 2014 provided by H2 Gambling Capital, reported by the Economist. Either way, here are the 11 countries with the highest gambling losses in the world.
11. Singapore
Losses – $8.9 billion
Even though Singapore hasn’t opened its gates to casinos for many years, it has already ended up among the countries where gamblers lose the most money. In fact, it was only in 2010 that Singapore, the island city-state that’s a commercial and financial hub sitting south of Malaysia, opened its first casino. Nowadays, gamblers in Singapore managed to lose some $8.9 billion in 2014, which is an impressive number.
10. Spain
Losses – $10.9 billion
Spanish people seem to be quite the gamblers. While they do manage to lose quite a bit of money in casinos, they’re not even close to being the worse. In fact, according to data from H2 Gambling Capital, Spain’s gamblers lost some $10.9 billion throughout 2014. Ever since gambling was permitted in the country, back in the 70s, the popularity of the many casinos within the country has been growing steadily. In fact, there are quite a lot of them and the number keeps growing every year.
9. France
Losses – $13 billion
Keeping things in Europe, we’re moving on a bit to the north, going up to France. Since the country is such a popular venue for gamblers, it’s no wonder that those betting their money in the local casinos managed to lose some $13 billion throughout 2014. That’s a really big number and it tells a lot about the attractiveness of the country’s gambling system. In order to gamble in France, you need to be at least 18, following the reduction of the minimum age back in 1987. Online gambling is also an option for those who want the comfort of their own homes while betting away their hard earned money.
8. Canada
Losses – $13.4 billion
Beautiful and polite Canada is up next with gambling losses amassing up to $13.4 billion in 2014, the number growing constantly over the past few years. As more and more people visit the country, the numbers are only going to grow.
The legal age to gamble is 19 in Canada, although there are three provinces where you only have to be 18 to start betting – Alberta, Manitoba and Quebec, restrictions that apply to both online and traditional gambling. Each area has different rules regarding gambling, however, so make sure you’re up to date with them when visiting.
7. Germany
Losses – $14.6 billion
It’s rather logical that Germany would be on this list since this is one of the biggest economies in Europe and, at the same time, one of the countries that gets most travelers. Thankfully, after a four-year pause, between 2008 and 2012 when gambling was illegal under federal regulation, the government went back on its decision and introduced new rules regulating the licenses of any and all gambling operators. Online gambling is also a big part of the German landscape, even though only a few online operators have been licensed.
6. Australia
Losses – $20.3 billion
Jumping continents over to Australia we find that gamblers managed to lose over $20 billion in 2014. That’s an impressive sum and we have to wonder whether they might be better off not betting. However, the numbers can be explained through the fact that gambling is quite popular within the country, so popular in fact that a few years back BBC was writing that some 80% of the population likes to bet its money away, the highest rate on the planet. Basically, they’ll bet on just about anything they can get away with.
5. Britain
Losses – $23.6 billion
Back in Europe, we have Britain next with losses amounting to $23.6 billion in 2014, making it one of the 11 countries with the highest gambling losses in the world. Whether they’re playing the roulette, card games, betting on sports and races or playing the lottery, the Brits are quite taken with the idea that they might become rich overnight. As with most of Europe, you have to be at least 18 to be allowed to gamble, which seems to be just the right age considering other legal limitations set out for children.
4. Italy
Losses – $23.9 billion
Just a little bit more unlucky than the Brits are the Italians who managed to lose some $23.9 billion while gambling. Of course, when we think about gambling at its origin it’s impossible not to consider Italy since it was during the Roman Empire that a predecessor of backgammon was the main pastime activity for legionnaires who bet their wages away. Gambling in Italy nowadays, however, it a bit more difficult. According to local law, games of luck such as betting on sports, lotteries and so on are ok. Card games of skill were legalized a few years back, including the very popular Texas Hold’em.
3. Japan
Losses – $29.8 billion
Considering the strict rules regarding gambling in Japan, it’s a bit of a surprise to find out that locals have managed to lose some $29.8 billion in 2014.
Laws in Japan prohibit gambling, with a few exceptions including horse racing, and several motorsports. Public sports, lotteries, and football pools have separate rules as the country’s legislators seek to increase the income of the national and local governments.
Illegal gambling, however, is known to be quite popular too, with many illegal casinos operated by the Yakuza.
2. China
Losses – $95.4 billion
If you thought the Japanese people lost a lot of money, then you’ve seen nothing yet. China’s gamblers managed to lose some $95.6 billion in 2014. Considering just how many people live in the country that’s not such a bad number, but it’s definitely an impressive one. On the other hand, gambling in China is illegal.
So how did they manage to bet so much and lose so much? Well, people can participate in lotteries run by the state or go visit Hong Kong and Macau where the government’s long hand doesn’t reach. Since these are special administrative regions, with separate legal systems, gambling is permitted in these areas, even if in a more restricted manner than in other areas of the world.
1. USA
Losses – $142.6 billion
The American dream involves living comfortably after becoming rich overnight. Or, at the very least, that’s how most of the world sees it. Considering just how much money is lost through gambling in the United States, we’d wager that things are quite like that in reality too.
Whether we’re talking about card games, lotteries, slot machines, roulette and so on, the United States has it all. Casinos are all over the place, looking to attract customers and, along with them, their money. Although there are several popular gambling hubs, Las Vegas is perhaps the best known of them all. Its name alone is immediately associated with casinos, regardless of who you ask around the globe.
The gambling market in the USA is huge and that’s obvious given how much money was lost across the country back in 2014 – a staggering $142.6 billion. This puts the United States at the top of the list among 11 countries with the highest gambling losses in the world.
