Online gambling – bet you didn’t know this!
Technology has made the internet more accessible than ever before. We can connect almost anywhere, any time. Which has made it easier to do those things we do to amuse and entertain ourselves, including gambling. But how well do you know the subject?
Here are some interesting statistics about gambling that you probably didn’t know…
The first online casinos appeared way back in 1994, but two years later there were still just 15 online gambling sites worldwide. By the very next year, however, that increased to two-hundred. Popularity continued to grow, with the global market raking in $830,000,000 in 1998. There are now thousands of sites – so many, in fact, that it is almost impossible to know exactly how many.
If you thought $8 million was a lot of money, a decade later the online gambling market was worth an estimated $21 billion. As technology advances and more people join in, eager for some of the huge prizes on offer, it is projected that the figure will expand to somewhere around $87-$94 billion by 2024.
If you enjoy a flutter, as they say, spare a thought for the citizens of the following countries: North Korea, Kuwait, Lebanon, UAE, Singapore, Qatar and Brunei, where gambling, including online, is illegal! And if someone is caught they risk a range of harsh penalties, such as a $10,000 fine as well as a six month jail sentence. In Singapore, should you encourage another to take part, you’ll risk a $20,000 fine and five years inside.
Hitting the jackpot
As we have seen, the vast amounts of money spent on gambling online mean that companies can offer huge jackpots. This year, in March, one online gambling syndicate paid out $3.5 million, closely followed by the mouth-watering sum of $4,333,667.97.
Though these pale into insignificance when you compare them to the amount won by a man in Finland back in 2013. A 25 cent stake netted him a payout of $24 million.
While payouts of this value are few, it raises interest in online gambling and keeps the industry growing at record rates.
A man’s world?
Not a popular expression these days, but wait – it’s based on statistics! Around 84% of all online gamblers are male. Having said that, the USA seems to buck this trend, with 57% of online gamblers being female. This does include ‘social’ gaming, though, which may not involve playing for real money. It seems, then, that men are more willing overall to risk their hard-earned cash. And is probably why they are 7.5 times more likely to be diagnosed with a gambling problem! It’s best to seek help well before this happens, though.
Gambling is all about probability. The chances of getting a Royal Flush in a game of Poker are 1 in 649,740.
Facts like these add to the risk and the excitement. So, keep it fun, keep in control and above all, good luck!