About gambling in a few interesting markets

Gambling is a popular and diverse activity that varies in different parts of the world. Here are some of the differences and similarities of gambling in the UK, Finland, and the USA, as well as some statistics and future trends for these countries.

• In the UK, gambling is legal and regulated by the Gambling Commission, which represents the government's Department for Digital, Culture, Media and Sport (DCMS). There are various forms of legal gambling in the UK, such as casinos, betting, lotteries, bingo, scratchcards, and online gambling. The gross gambling yield (GGY) of the gambling industry in Great Britain amounted to a little over 14 billion British pounds in 2022, up from the previous year's GGY of 12.7 billion pounds. This increase can be understood in the context of the coronavirus (COVID-19) pandemic, which drastically impacted the gambling industry due to the closure of brick-and-mortar establishments and the pausing of major sports leagues in 2020 and 2021. Online gambling is the largest and fastest-growing segment of the UK gambling market, with a GGY of 5.7 billion pounds in 2022, accounting for 40% of the total market.The UK government is currently reviewing the Gambling Act of 2005, which regulates the industry, and is expected to publish a white paper with proposals for reform in 2022. Some of the possible changes include stricter affordability checks, limits on online stakes and prizes, and bans on gambling advertising and sponsorship.

• In Finland, gambling is also legal, but it is organized through a monopoly system, which means only one company can offer gambling services in the country. It was founded in 2017 when three betting and gambling agencies merged: Finland's Slot Machine Association, Veikkaus, and Fintoto. It operates casinos, slot machines, lotteries, bingo, sports betting, and online gambling. The gambling industry in Finland generated an estimated 1.6 billion euros of gross gaming revenue (GGR) in 2020, down from 2.0 billion euros in 2016, and is forecast to return to 2.0 billion euros by 2022. However, the monopoly model is facing increasing challenges, as many Finnish players prefer to gamble on foreign online casinos, which offer better bonuses and game selection. According to H2 Gambling Capital, offshore operators generated 400 million euros in GGR in 2020 and are expected to reach 500 million euros in 2021. The monopoly has also faced criticism for its social responsibility and gambling harm prevention measures. As a result, Finland is considering shifting to a licensing model, which would allow other operators to enter the market under certain conditions. The country has expressed its support for the reform, as this would make all operators comply with the same rules. However, the process is likely to take several years, and the earliest possible date for a licensing regime is 2026. If you need more about the best available casinos in the country, Nettikasinot Suomi has a wide list of them.

• In the USA, gambling is legal under federal law, but each state can regulate or prohibit it as it sees fit. The gambling industry in the USA is diverse and dynamic, with different types of gambling available in different states, such as casinos, lotteries, bingo, poker, sports betting, and online gambling. The gross gaming revenue of the gambling industry in the USA reached almost 53 billion U.S. dollars in 2021, growing significantly over the 2020 figure which was impacted by the coronavirus pandemic. The most popular type of gambling in the USA is casino gambling, which includes slot machines and table games. The casino industry generated 43.6 billion U.S. dollars in GGR in 2021, with Nevada, the home of Las Vegas, being the largest casino market. However, the fastest-growing segment of the U.S. gambling market is sports betting, which has seen significant expansion since the Supreme Court struck down a law that banned sports gambling outside Nevada in 2018. Since then, 33 states as well as Washington, DC have legalized sports betting, and seven more states have legislation in the works.The sports betting market is expected to be worth 140 billion U.S. dollars by 2028. Online gambling is also becoming more widespread, as more states allow online casinos and sports betting platforms to operate. Online gambling generated 4.4 billion U.S. dollars in GGR in 2021, with New Jersey being the largest online gambling market. The future of the U.S. gambling industry looks bright, as more states embrace legalization and innovation, and more partnerships are formed among gambling companies, sports leagues, and media outlets.