The gamblers who live in the United States managed to spend about $116 billion during 2016, and that number will probably continue to grow as more people decide to try their luck and enjoy this rapidly expanding market. Furthermore, as the economy increases, players are expected to increase the wager height in the future which will help the gambling market grow more.
The Wizard of Odds issued a report that states that the average amount of money spent by the US citizens on gambling is $400. This figure applies to 2016, and Nevada was definitely the most active state in this aspect as the punters from both the US and other countries managed to spend $11.1 billion on wagers. The US now ranks in fifth place when it comes to the wager amounts and the number of people. The countries that rank higher at the moment are Australia, Singapore, Ireland, and Finland. However, we can notice a great gap between the US and the countries below it, which are the United Kingdom, Italy, Norway, New Zealand, and Canada.
According to the Wizard of Odds, the overall improvement in the gambling industry has to do with the overall improvement in the global economy, which has steadily gone up since the Great Recession that happened back in 2007. They claim that this gave people more disposable income which they are able to spend on leisure activities that include gambling. The average hourly wage in the US at the moment is $22.89, which is a slight increase in the year to year comparison. When we compare it to an hourly wage from ten years ago, we could see that there is a significant improvement and that the wagers are much better.
The site reports that another thing that affected the overall jump in the gambling industry is the number of people who have a job, which is slowly but steadily increasing every month.
Finally, the most important factor is definitely the number of gambling options which is rapidly increasing. A long time ago, the punters had to travel to the nearest casino in order to have a taste of this type of entertainment, but they can do that from the comfort of their home, just by registering on an online casino. Furthermore, they can play casino games on the go, as most of them are optimized for smartphones and tablets.
Millennials are people aged 22 to 38 who seem to be the target group that seems to be least interested in gambling. However, the casinos managed to get them interested in this type of entertainment by introducing betting on eSports. This way, the younger generation is able to combine their favourite past time and try their luck. However, the Wizard of Odds believes that there are details that the younger generations will grow older and seek more traditional forms of gambling, just like their parents.
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