Gamblers in the United States lost approximately $116.9 billion in 2016 and this figure is reportedly expected to continue growing as adults enjoy an ever-expanding market alongside higher wages engendered by an increasingly robust economy.
Nation ranks fifth per capita:
According to a Friday report from The Wizard of Odds gambling and online casino news website, adults in the United States lost an average of $400 on gambling two years ago with the state of Nevada serving as their leading destination after it collected approximately $11.1 billion from both foreign and domestic punters. This purportedly placed the nation of some 325 million people in fifth place per person behind Australia, Singapore, Ireland and Finland but well in advance of the remaining top-ten of the United Kingdom, Italy, Norway, New Zealand and Canada.
Rising wages and employment:
The Wizard of Odds reported that this figure was partly down to an improvement in the global economy since the Great Recession of 2007 that subsequently gave people a rising amount of disposable income to spend on gambling. In the United States, the average hourly wage now stands at $22.89, which represents an over 3% increase year-on-year and some 27% higher than where it was a decade ago.
The website stated that this swell in pay has been mirrored by an increase in the number of those in work with the percentage for the United States currently standing at around 60.6%, which represents a month-on-month boost of about 0.2%.
The Wizard of Odds reported that these factors have combined to produce people with ‘more disposable gambling income’ and will consequently lead to a continuing uptick in gaming revenues across the United States.
Increased gambling choice:
To go along with this cash, the domain reported that people in the United States are now being exposed to an ever-increasing plethora of gambling options. At one time, punters were required to travel to Nevada or, later, Atlantic City in order to have a flutter but they can now visit commercial and tribal casinos in every state except Tennessee, Utah, Kentucky, Hawaii, South Carolina, Virginia and New Hampshire.
To go along with this, The Wizard of Odds reported that American punters are being introduced to a greater range of gambling options including ‘flashy’ slots themed on popular films and television programs alongside skill-based titles such as the head-to-head Gamblit Poker innovation. Unlike the recent past, this choice now purportedly moreover runs to online gambling while May’s decision by the United States Supreme Court to invalidate the Professional and Amateur Sports Protection Act (PASPA) prohibition has already seen New Mexico, Delaware, Mississippi, New Jersey and West Virginia join Nevada in offering legal sportsbetting.
With the exception of roulette in Las Vegas casinos, The Wizard of Odds reported that those making up the ‘millennial’ generation, which roughly equates to adults aged between 22 and 38, seem to be increasingly disinterested in gambling. However, this has led casinos to invest in eSports as a way to attract these younger customers in order to reap the rewards of non-gaming things such as accommodation, food and drink.
The website reported that the industry is one day hoping to convince these eSports aficionados to wager on their favorite contests online much as more traditional punters currently place bets on a baseball game or boxing match.
Finally, The Wizard of Odds detailed that there is the widespread belief that this age group will ‘grow out of that organically’ as they become older and join their parents in embracing the more traditional forms of gambling.