International gambling business is worth $423 billion, says Morgan Stanley
The publication Forbes magazine reported on the latest gambling stats from respected analyst group Morgan Stanley this week, which estimated current revenues of the global land and online gambling market at $423 billion.
Lotteries accounted for 29 percent of overall revenues at $121 billion, with what the report terms "other gambling" such as sports betting and pari-mutuel racing as the next biggest contributor at $118 billion or 28 percent, and online gambling at $37 billion or 9 percent.
Of the $146 billion from land-based casinos, US commercial and tribal operations took in $67 billion (46 percent), Asia and Australia casinos $61 billion or 42 percent. The rest of the world's brick-and-mortars had $18 billion or 12 percent.
Last month Morgan Stanley revised its estimates for the size of the U.S. online gambling industry by 2020, reducing its predicted value from $5 billion to $2.7 billion (see previous InfoPowa report).
See the Forbes report on Morgan Stanley's conclusions here:
Online Casino News Courtesy of Infopowa