What is the Gambling Industry?
The gambling industry is a catch-all term for businesses, services and organizations which promote or offer gambling as a commercial activity. As well as including casinos, gambling websites and bookmakers, the industry also includes associated hospitality and tourism services, advertising and marketing companies, regulators and lawmakers who have an active part in providing gaming to the public.
The gambling industry can be broken down by national and international lines, and into the various smaller industries which make it up.
Gambling Industry Explained
The term ‘gambling industry’ applies to any commercial entity actively engaged in the promotion or sale of gambling services, and to all associated entities as a collective body. The global gambling industry covers all companies and organizations which operate in the gaming sector, while each nation or jurisdiction with legalized gambling has its own national gambling industry.
The term could also be stretched to cover illegal gaming. The illegal gambling industry is active in almost every nation of the world, offering unregulated and unlicensed gaming that bypasses laws. Some estimates suggest that the illegal gambling industry could be worth more globally than the legal market itself. There are thought to be millions of players worldwide making illegal bets every day – and millions more placing legal ones through the commercial gambling industry.
As well as directly covering casinos and gambling outlets, the gambling industry covers a far wider range of associated business types which also make all or most of their money from gambling. For example, some hotel chains are engaged in the gambling industry by setting up at casino resorts, as are many restaurant and bar franchises. Marketing companies who work on gambling promotion, financiers who provide credit lines and account management for gamblers, and commercially-funded activists who campaign for or against gambling activities all form part of the wider gambling industry.