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Reports

Global Economic Impact of Gambling Tax Soars, according to Statista research

Friday 09 de August 2024 / 12:00

2 minutos de lectura

(Waterford).- The economic impact of gambling on national economies has been astronomical from 2020 -2024, according to the latest Statista research. The online gambling market alone is expected to generate an impressive US$97.70 billion by the end of 2024, with an annual growth rate of 6.46% projected to push the market volume to US$133.60 billion by 2029.

Global Economic Impact of Gambling Tax Soars, according to Statista research

Minimum Deposit Casinos (MDC) – a division of the OneTwenty group – explored how governments were spending the gambling tax and the impact of it.

“We looked at the top 5 revenue generating countries in online gambling. It was evident that gambling tax is revolutionizing national economies, fueling vital public services, and spearheading major community and environmental projects. In fact, it has had a profound and life-changing impact globally, showcasing how crucial this revenue stream is for societal well-being and sustainable development,” said Miranda Raaff, MDC Head of iGaming Information.

Top 5 revenue-generating countries in online gambling 2024:

  • United States: US$14.4 billion contributed in direct gaming taxes to government in 2023. $750 million was earmarked for conservation work. The tax was also used for upland management, invasive species removal, flooding and sea-level rise resilience, and water maintenance needs.
     
  • UK: Betting/gaming tax was £3.4 billion in 2023/2024. A significant portion funds the National Health Service and improves healthcare facilities. Part of it used in community projects, roads infrastructure, public transport, and housing.
     
  • Australia: Gambling operators contributed AUS$5.8 billion to government in 2020. A big portion funded public hospitals, medical services, and mental health programs. It also supported public schools, universities, and training programs. Infrastructure like roads, public transport, and public housing also benefitted.
     
  • Germany – €5.2 billion was contributed in gambling tax for 2022. A huge portion funded public hospitals, medical research, and mental health services. Some used for unemployment benefits, housing assistance, and supporting low-income families. It was also utilized for infrastructure, arts/culture programs, and education.
     
  • Canada – Canada receives around CA$9 billion yearly in gambling tax. A huge portion goes to healthcare, social programs, public safety initiatives, environmental protection, infrastructure and more.

    About MDC

MDC, a division of the OneTwenty Group, is an iGaming resource portal that reviews and recommends the most trusted and reliable online casinos globally. MDC conducts thorough vetting of casinos, focusing on security, gaming licenses, responsible gambling tools, and fair gaming practices.

Contact:miranda@onetwentygroup.com

Categoría:Reports

Tags: Sin tags

País: Ireland

Región: EMEA

Event

SBC Summit Americas 2025

13 de May 2025

Redefining Innovation: Soft2Bet’s Market-Ready Tech and Experiential Advancements at SBC Summit Americas

(Fort Lauderdale, SoloAzar Exclusive).- In this Q&A, Slobodan Georgijevski, Soft2Bet Senior Sales Manager, highlighted innovation and presence of the firm at recent SBC Summit Americas, and shared a broader industry insight and evolution over the years.

Friday 06 Jun 2025 / 12:00

Belatra Games Unveils 'Cyber Gypsies' and AI-Driven Innovations at SBC Summit Americas 2025

(Fort Lauderdale, SoloAzar Exclusive).- At SBC Summit Americas 2025, Belatra Games took center stage with groundbreaking innovations, introducing its newest slot experience, Cyber Gypsies. Alongside this thrilling launch, it reinforced its commitment to AI, gamification, and player protection, setting a new standard for engaging and responsible gaming. But what makes these innovations stand out, and how is Belatra redefining industry trends? Let’s dive in.

Thursday 05 Jun 2025 / 12:00

Blokotech at SBC Summit Americas: Cutting-Edge Launches and New Features

(Fort Lauderdale, SoloAzar Exclusive).- In an exclusive interview with SoloAzar, Alberto Alfieri, Blokotech Co-Founder & Executive Chairman, discussed the innovations the company presented at SBC Summit Americas 2025 and how they address the industry's evolving needs, among other topics.

Monday 02 Jun 2025 / 12:00

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