Another contributing factor in the rise of the gambling industry is a strong economy. A strong economy is always advantageous. It means that people have jobs and can generally afford to live in relative comfort. It also means that folks have more disposable income to spend on things like entertainment. And what is one of the most popular forms of entertainment these days? Well, a lot of people like to gamble either online or at land-based casinos.

According to Forbes, the five largest economies in the world belong to the United States, China, Germany, Japan, and India. The top 20 also includes countries like Australia, Canada, Russia, and the United Kingdom. It should come as no surprise that many of these countries also happen to rank highly in terms of money spent on gambling. After all, people who live in these places tend to have much more disposable income than those who live in poorer regions with weak economies. Let’s have a gander at a few relevant figures:

As we can see, eight of the top 10 economies are also among the top 10 in annual gambling losses with the U.S., China, and Japan leading the way in both categories. Let’s also clarify that these numbers encompass all major forms of legal gambling including online casino gaming, sports betting, poker, Bingo, and lotteries.

It is patently obvious that there is a significant correlation between a strong economy and a thriving gambling industry. But, does this mean that the gambling industry can’t prosper in a weak economy? Of the 177 ranked economies in the world, Ethiopia sits in 60th place. The average annual income per capita is a paltry $950. Amazingly, the online gambling market alone generated around $20 million in 2023. What makes this figure even more interesting is that only about 25% of the population is connected to the Internet.

This would indicate that gambling can thrive even in a poorer nation. The Philippines is another example of a poorer country in which gambling thrives. However, it uses a different model. Most Philippine-based online casinos do not accept Filipino players. Instead, Filipino operators mostly rely on serving foreign players.

It only makes sense that gambling flourishes and thrives in economically advantaged countries. However, we must also consider that gambling has been proven to thrive in some of the world’s weakest economies. It’s just that the gambling companies that operate in regions with strong economies do exponentially better financially than those who operate in weaker economies. Gambling can thrive in both scenarios, but it is far more profitable when economic conditions are healthier and more stable.