Waterford, Ireland -- According to the latest research by Statista, the gambling industry has had a significant impact on the national economy from 2020 to 2024.
By the end of 2024, the revenue generated from the online gambling market alone is expected to reach an astonishing $97.7 billion. An expected annual growth rate of 6.46% is projected to drive the market size to $133.6 billion by 2029.
The Minimum Deposit Casinos (MDC) under the OneTwenty Group has explored how various governments utilize gambling taxes and their impacts.
"We have studied the top 5 countries with the highest revenue from online gambling. Clearly, gambling taxes are bringing revolutionary changes to the national economies, funding important public services, and driving significant community and environmental projects.
Indeed, gambling taxes have had a profound global impact, changing lives, and demonstrating the importance of this source of income for social welfare and sustainable development," said Miranda Raaff, Director of MDC iGaming Information.
The top 5 countries with the highest online gambling revenue in 2024 are:
USA: In 2023, $14.4 billion in gambling taxes were paid directly to the government. Of this, $750 million was specifically used for job protection. This tax revenue is also used for managing highlands, removing invasive species, flood control, and addressing sea level rise as well as water maintenance needs.
UK: The gambling tax for the fiscal year 2023/2024 reached £3.4 billion. A significant portion of this is used to fund the National Health Service and improve healthcare facilities. Some funds are used for community projects, road infrastructure, public transport, and housing.
Australia: In 2020, the gambling industry paid $5.8 billion AUD to the government. A large portion of this was used to fund public hospitals, medical services, and mental health projects. Additionally, it funded public schools, universities, and training programs. Roads, public transport, and public housing infrastructure also benefited.
Germany: In 2022, gambling tax was €5.2 billion. A large portion of this was used to fund public hospitals, medical research, and mental health services. Some were used for unemployment relief, housing assistance, and support for low-income families. It was also used for infrastructure, arts/culture projects, and education.
Canada: Canada's annual gambling tax is about $9 billion CAD. A large portion of this is used for healthcare, social programs, public safety plans, environmental protection, infrastructure, etc.
