Gambling has been played around the world for thousands of years. People just seem to love participating in games of chance and trying their luck. In modern history, the world of gambling has developed into an industry that's worth more than half a trillion dollars!
Gambling is a fun and thrilling activity where fortunes can be won and lost almost instantly. And almost just as interesting as gambling itself are gambling statistics. So continue reading and we'll walk you through some of the most fascinating and interesting gambling facts and stats you should know about.
1. Gamblers Have a 30% Chance of Winning on Any Given Day
This statistic is according to the Wall Street Journal. While some amateur gamblers may be breathing a sigh of relief after reading that, you should know that that number doesn't give the whole story.
That data point is from a two-year survey that studied people who played at online casinos. Over the two years, 11% of those players ended up in the black. And most of them had profited less than $150.
Perhaps more interesting is when you see how the numbers change when you look at frequent gamblers. The top bettors are the players who put up the most wagers over the two years. And only 5% of those players walked away with more money than what they started with.
Looking for some more fascinating details from the study? 50% of the casinos' revenue came from just 2% of the players. And 80% of the revenue came from only 10.7% of the gamblers.
But what about the players who didn't gamble as often? How well did they do?
According to the study, 10% of the players who bet the fewest wagers had the highest winning percentage. And 17% of them walked away profitably.
A total of 4,222 gamblers were involved in the study. And only seven of those players won more than $5,000. Sadly, 217 players lost more than $5,000.
This doesn’t mean that you shouldn’t gamble or play casino games. It just means you should take a reasonable approach.
Casino gambling is a lot like eating candy. It’s best done in moderation, but who’d want to live their entire life without candy?
2. 2 to 3% of Americans Have a Gambling Problem
While 1% - or 2 million - Americans have a severe gambling problem, around 4 million more have a mild or moderate gambling problem. Those four million Americans meet at least one of the criteria for gambling addiction but they don't meet the full diagnostic criteria.
According to the National Council on Problem Gambling (NCPG), gambling addiction includes all gambling behavior patterns that damage, disrupt, or compromise someone's vocational, familial, or personal pursuits. The symptoms of gambling addiction include:
increasing preoccupation with gambling
irritability or restlessness when attempting to stop
loss of control despite mounting negative consequences
desire to bet more money more often
In extreme cases, gambling addiction can lead to depression as well as legal and financial problems.
On the bright side, these odds probably mean that you're not a compulsive gambler.
3. 49% of Americans Have a Favorable View of the Casino Gaming Industry
A record number of American adults (49%) have a favorable view of the casino gaming industry. That's up from the 2018 numbers of 45%, according to a national survey conducted by the American Gaming Association.
Perhaps sparked by the Great Recession, Americans have, in recent years, started seeing the casino industry as being helpful to local economies and acting as a job creator. And they also feel that the casino gaming industry benefits the communities where the casinos operate.
A whopping 71% of Americans believe that casinos create jobs. And while 49% of American adults say that communities are helped by their local casinos, 57% of people think that the casinos are beneficial to the local economies.
This increase in favorability is occurring alongside a major boost in casino visitation. Many people today feel that the casino gaming industry offers high-quality and innovative types of entertainment.
In fact, 44% of American adults visited a casino in 2019. That's equal to around 124 million people. Those numbers are also significantly higher than the 35% of American adults who visited casinos in 2018.
49% of American adults surveyed also said that they intend to visit a casino to gamble within the next twelve months, which is 20 million more people compared to those surveyed the year before.
And lastly, two out of three Americans believe that the casino gaming industry provides high-quality entertainment and 63% of people feel that the entertainment options offered by casinos are innovative.
4. Over $18,226,355,000.00 USD Is Spent on Gambling in Great Britain
In Great Britain, gamblers spent around £14.5bn between October 2017 and September 2018. That's equal to around $18,226,355,000.00 USD. That includes betting on sports, horse races, bingo games, and National Lottery tickets.
Online gambling receives the most revenue at £5.6bn, which is nearly 40% of all of the money waged. That includes online casino betting, games, and bingo apps. Betting shops came in second, generating revenue of £3.2bn.
In the same period, a little less than £3bn was spent on tickets for the National Lottery.
5. The House Edge for the Lottery is 50%
According to Michael Shackleford, famously known as the Wizard of Odds, the lottery is the worst gambling game that you can play. The house has a staggering 50% edge.
Compare that to blackjack, where the house edge is only 0.5% when players know how to play basic strategy. Roulette even has better odds than the lottery. In that game, the house has an edge of just over 5%.
So why does this stat matter? Once you realize how terrible the odds are for the lottery, you're probably going to think twice before marking off that Powerball ticket.
It's interesting to note that the one gambling game that the government is in charge of is also the most corrupt and house-heavy game around. So next time you think about buying some lottery tickets, consider spending your money more wisely and go have fun at a blackjack table.
6. The Best and Worst Slot Machines In Las Vegas Can Be Found on the Boulder Strip
When we say best and worst, we mean in terms of payback percentage. And that term represents the amount of money that the casino is expecting you to win per spin over the long run.
Let's look at an example. The best slot machine in Las Vegas has a payback percentage of 96.71%. When you play that machine, you'll be betting 25 cents for each spin.
Let's imagine that you make 600 spins per hour. For every 25 cents that you bet, you're expected to win 24.18 cents, according to the casino. This means that you'll have a net loss of 0.82 cents for every spin.
So after 600 spins, you can expect to lose a total of $4.92. Paying less than $5 for an hour of entertainment certainly isn't a bad deal. And that's the rate of return that you can expect on the Boulder Strip for the quarter machines, according to American Casino Guide.
However, when you're on the Boulder Strip, you should do your best to avoid the MegaBucks machines. These slot machines have the worst payback percentage. While you have the possibility of winning a life-changing amount of money, you're more than likely going to be keeping only 87.15% of the money you wager.
It also costs you $1 per spin. So if you spin 600 times in one hour, and spend $600, the casino is expecting you to only keep 87.15 cents for each spin. That means that they're going to be winning 13.85 cents each time you pull that lever.
After an hour of playing, the casino would've made $83.10 off of you. Just think about how big the difference is between losing $83 in an hour and losing under $5 in one hour.
Whenever you can, avoid playing the MegaBucks slot machine games. Although they have better odds than the lottery, they're not a whole lot better. If you want to be a savvy gambler, you should always be comparing the odds of different games like this.
7. Macau Leads the World in Gambling Revenue
In 2002, Macau made as much in gambling revenue as the state of Mississippi - a state not particularly known for its gambling culture. Three years later, Macau was taking in more than Atlantic City. The next year, they beat out Las Vegas.
By 2008, Macau had surpassed the gambling revenue of the entire state of Nevada. As the fastest growing gambling destination in the world, nowhere else comes close to Macau's number.
This small Chinese region is just 44 square miles in size while Las Vegas is 140 square miles. Despite that, Macau made an incredible $37 billion in 2018 while Las Vegas made only $6.5 billion.
And if you're interested in visiting Macau at all, then you should make sure to brush up on your Baccarat. Baccarat is the most popular game in the region, bringing in 85% of the city's gambling revenue. In the United States, it's the slot machines that generate the most revenue for casinos.
8. The Odds of Rolling a Pair of Dice 154 Times Continuously at a Craps Table Without Rolling a 7 is 1 in 1.56 Trillion
Why would we share this statistic? It seems so random and so improbable. Yet despite those absolutely insane odds, they're not actually impossible to beat.
And that's exactly what Patricia Demauro, a grandmother from New Jersey, did in Atlantic City in 2009. In what is likely one of the most historic lucky streaks in gambling history, Mrs. Demauro rolled 154 times without ever "sevening out."
Remember those crazy odds for winning the lottery? You're still several hundred times more likely to win the lottery than have a lucky streak like that.
All in all, the woman played for a total of four hours and 18 minutes and broke multiple world records. The average number of dice rolls in a game of craps is eight.
Nobody knows how much she won that day. But if she made good bets, she probably would've won in the hundreds of thousands. And if she made expert bets, she would have walked out of that casino a millionaire.
9. Blackjack Is Becoming Less Popular
Blackjack is one of the most iconic and quintessential casino games in the world. However, it's fallen out of favor in recent years. Slot machines have now become the dominant game, according to the Centre for Gaming Research at UNLV.
How far has blackjack fallen? In 1987, blackjack took a unit share of 75.88% of all games played in Las Vegas. The next most popular game was Craps with only 10.5%
Today, blackjack only takes up 50.86%. This staggering drop represents a decrease in the game's popularity at land-based casinos in Las Vegas. With that said, blackjack is one of the most popular online table games, alongside Roulette and Texas Hold'em.
While the decrease in blackjack's popularity started before online gambling existed, it's demise was certainly accelerated by the new technology. Now that people can play blackjack for free from their homes, many would-be players are choosing to stay inside instead of going out to the casinos.
The Importance of Learning Gambling Statistics
Gambling is an age-old pastime and one that can give a person a sense of community and belonging. Casino games can be thrilling and exciting and loads of fun. But it's important to understand that they should be viewed as entertainment first.
And although there's no casino game that's going to give the edge to the player, you can certainly minimize your losses by understanding gambling statistics and how the casino gaming industry works as a whole.
Are you interested in playing some fun online gambling games? If so, check out the rest of our site and pick that game that suits your fancy.
Related Blog Posts
- Unexpected Video Games Where Gambling Meets Fun
- How did Ancient Civilisations Play Games of Chance?
- How to Enjoy Gambling Without Setting Foot in a Casino
- 1-Star NFL Stadium Reviews
- Popular Lucky Charms Used by Gamblers Around the World