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The Business-Economic Impact of the Gambling Industry on Countries Around the World

With the ever-growing Internet technology, different industries are adapting their business models so they can follow the latest trends and expand their reach via social media like Facebook, TikTok, Instagram, and others. Moreover, they are exploring all the possibilities that the online world has to offer so they could increase their revenue.

Perhaps the greatest change happened in the gambling industry after the first online casinos emerged. Nowadays, online casinos are growing to be more and more popular with each passing day. And their popularity has had a tremendous impact on many countries to legalize gambling.

Below, you can discover the different ways in which the gambling industry impacted the business-economic situation in countries across the globe.

The Netherlands

It’s nothing new that the people living in the Netherlands like to visit online casinos. Most players prefer best no account casinos as well as operators who offer amazing welcome offers. As of 1st January 2021, the Remote Gambling Act has been put into force, and this means that the operators are now free to apply for the Dutch market and wait for their licence for six months.

So, what does this new act mean for the economy of the Netherlands? Over the course of only one year, the Dutch gambling market has doubled its revenue, from 64 to 127 million euros. According to TOTO, the Dutch sports betting provider, the Dutch GDP had a boost of 1,4 billion euros from the gambling market alone. However, many online channels that have up until recently been illegal, are soon to be made legal, and the GDP boost is expected to increase even more.

Canada

Canada has been known as one of the countries where gambling has always been welcome. Most locals find the best online gambling venues by reading any review of the best real money casinos in Canada. Additionally, there are thousands of tourists that visit Canada each year so they could visit any of its breathtaking land-based gambling venues. Canada’s casinos are famous for their scenic views since most of them are placed in amazing locations. From numerous casino games to various sports betting options, Canada is every gambler’s fan dream come true.

As far as the business-economic impact of the casino industry on Canada goes, it has been manifold. Firstly, the gambling industry has created many job opportunities for Canadian citizens. To start with, every casino resort needs a different type of personnel, from people working at the hotel to casino employees. Secondly, it had a major impact on the number of tourists that are pouring into the country every year. Canada is already a beautiful country that many tourists want to visit. But the casino industry added a new type of tourist to the list that is only contributing to the country’s GDP. And lastly, through sports betting, many sports are getting promoted which helps the sports industry to expand. What is more, even some sports, like soccer, are gaining popularity, and simply because they are included in the sports betting offer.

The USA

The USA has only recently struck down the PASPA act, which prohibited any kind of gambling on the federal level. This meant that now every state is able to determine the legal status of online gambling and sports betting. So as of recently, states like New Jersey, Iowa and Pennsylvania can enjoy their favourite casino games and sports betting opportunities in-person or via a mobile app.

To begin with, legalized gambling means a better GDP for the state that allows it. It is highly unlikely that people will visit any illegal gambling website if the state approves of those that are licenced. Moreover, there are already cases of great sponsorships between gambling industry giants and different sports leagues like the NBA and NHL. This means that the gambling industry will use famous athletes to promote their gambling venues, and at the same time promote those sports and clubs. Ultimately this will mean greater revenue for those leagues as well as for individual players.

Conclusion

The gambling industry has been greatly contributing to the annual revenue of every country where it has been legalized. With taxes, more job opportunities, and amazing sponsorships, the casino and sports betting industry is a great addition to the list of successful new-age businesses that every country should have.

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