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"Exceptional" - USA Is Number 1 In... Gambling Losses

Tyler Durden's picture




 

Last week we highlighted just how "rigged" the casino really is (real casinos - as opposed to the equity markets) and while that was shocking, the USA can be proud of another exceptionalism... As The Economist notes, at $119 billion in 2013, the United States was the biggest gambling loser in the world. However, on a per capita basis, Australia and Singapore top the list.

 

 

Source: The Economist

 

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Mon, 05/19/2014 - 16:38 | 4774957 outamyeffinway
outamyeffinway's picture

Money lost in the US or by the US? Japan???

Mon, 05/19/2014 - 16:53 | 4774999 wakablahh
wakablahh's picture

It refers to the location of where the money was lost.  It's illegal to gamble in Japan through a casino (criminal code).

 

Mon, 05/19/2014 - 17:33 | 4775084 knukles
knukles's picture

Does this include gross and or net (post commission) on Wall Street?

Mon, 05/19/2014 - 16:39 | 4774960 ShorTed
ShorTed's picture

*winning*

Mon, 05/19/2014 - 16:48 | 4774986 Rainman
Rainman's picture

Greece had to be a #1 winner at something .

Mon, 05/19/2014 - 16:54 | 4775007 Bangin7GramRocks
Bangin7GramRocks's picture

Only way for the 99% to ever get to the 1%. For most, the American Dream is as dead as fried chicken.

Mon, 05/19/2014 - 17:07 | 4775033 Karl von Bahnhof
Karl von Bahnhof's picture

I can sell you a beutiful castle! Or a bridge!

Just reply!

P.s. God bless the USA!

Mon, 05/19/2014 - 17:21 | 4775058 813kml
813kml's picture

Yes!  I was betting that America would win in a blowout.

Mon, 05/19/2014 - 16:43 | 4774970 zerozulu
zerozulu's picture

Well, may be #1 in casino profits.

Mon, 05/19/2014 - 16:45 | 4774974 FieldingMellish
FieldingMellish's picture

Where is the category for "stock markets"?

Mon, 05/19/2014 - 17:23 | 4775062 813kml
813kml's picture

They are lumped in with slots under "rigged games".

Mon, 05/19/2014 - 17:17 | 4774982 Squid Viscous
Squid Viscous's picture

Just put 3k on Rangers series win, baby! no brainer... toughest guy on the Habs is that little 185 lb sissy Prust... ??

Mon, 05/19/2014 - 16:47 | 4774987 scottch
scottch's picture

Last time I visited Vegas it was teeming with foreign nats.  I would say that the US is winning on that front.

Mon, 05/19/2014 - 16:47 | 4774988 ShrNfr
ShrNfr's picture

When you have a lot of people, you have a lot of chumps. Australia is still head and shoulders above the US in chumps per capita. Of course, that is not saying much.

Mon, 05/19/2014 - 16:48 | 4774991 1stepcloser
1stepcloser's picture

So that's what they are calling fed purchases of MBS these days.   

Mon, 05/19/2014 - 16:49 | 4774993 Bill of Rights
Bill of Rights's picture

Do we have a chart for bullshit? Garunteed we are number one in that category as well.

Mon, 05/19/2014 - 16:49 | 4774994 Crash N. Burn
Crash N. Burn's picture

Not only exceptional in gambling losses:

Is the US the only country where more men are raped than women?

Change you can believe in?

 

Mon, 05/19/2014 - 16:59 | 4775019 Dull Care
Dull Care's picture

I'm surprised some nebulous leftist hasn't shown this as evidence of progress or that Obama made that happen.

Mon, 05/19/2014 - 16:49 | 4774996 kchrisc
kchrisc's picture

The DC US criminals bet cookies in the Ukraine and lost. Well, actually the Ukrainians lost.

Mon, 05/19/2014 - 16:49 | 4774997 the not so migh...
the not so mighty maximiza's picture

funny, i bought a 20 dollar scratch off today at lunch and won nothing

Mon, 05/19/2014 - 16:51 | 4775001 1stepcloser
1stepcloser's picture

Your local school system will thank you....yes I can't keep a straight face while typing this response...lolol yes go buy another if you believe that..

Mon, 05/19/2014 - 16:50 | 4775000 Cacete de Ouro
Cacete de Ouro's picture

How does Tyler fair in the gambling stakes?

Up, down, or just about breaking even? Enquiring minds want to know...

Mon, 05/19/2014 - 16:54 | 4775009 crazybob369
crazybob369's picture

I was up in Washington last week to look at some property.  On the way back to Seattle, needing to answer nature's call, and because of the lack of rest stops on I90, I decided to stop at an Indian casino just off the highway.  I was awed/dismayed/dumbstruck (pick one) by what I saw.  The place was wall to wall, row after row of slot machines, with just enough room to walk between the rows.  Just about every machine was occupied.  This was on a Thursday, middle of the afternoon.  I'm thinking to myself, WTF.  Doesn't anyone work anymore?  And where the hell are they getting the money to feed into these beasts.  I used the can and walked out shaking my head.  This country is so fucked.

Mon, 05/19/2014 - 17:17 | 4775052 FuzzyDunlop21
FuzzyDunlop21's picture

Coworker of mine went to one in Columbus here. She said it was mostly old folks, many on oxygen, who you know just got their social security check. Look at the bright lights, pull the lever, see some pretty colors. Its look those experiments where the mouse is hooked up to receive dopamine everytime it hits a button. This is no different.

Mon, 05/19/2014 - 16:55 | 4775011 savagegoose
savagegoose's picture

aussie aussie aussie

Mon, 05/19/2014 - 16:57 | 4775015 dojufitz
dojufitz's picture

Yep....look at that....Australia would have the smallest population of all those countries......

and yet the revenuse from all the gambling the Govt gets is still NOT enough......

they are still in the RED......

when I was a kid you could only gamble in Tasmania or NSW.....now it is everywhere.....

Pokies are just walking distance to most homes.....in every pub......

I read the Casino in Melbourne has been down in revenue.....most likely due to most of its citizens being broke.

Mon, 05/19/2014 - 16:58 | 4775017 Frostfan1
Frostfan1's picture

Doesn't add up.   How do you differentiate in US how much was lost by US citizens as compared to non-citizens?

Mon, 05/19/2014 - 17:11 | 4775031 Hongcha
Hongcha's picture

Too many worlds in collision - do you mean housing, stocks or poker?

Casinos and "gambling addiction" make for an excellent explanation for bank cash withdrawals if you need it - which God knows you should not but such is our world - and an excellent tax-free ride if you can make money doing it.  Much like trading, a plodding and plugging, sober style can bring home the bacon, if you must go hunting on that ground.  It is a distinctly unhealthy life.  Don't smoke, drink or eat too much casino food; and exercise regularly.

And I speak of poker; I do not consider any of the other offerings to be speculative.  They are there to shear the sheep.

Mon, 05/19/2014 - 17:16 | 4775049 shankster
shankster's picture

Roll them bones serfs!

Mon, 05/19/2014 - 17:34 | 4775088 f16hoser
f16hoser's picture

Gambling losses you say? Well, that's something....

Mon, 05/19/2014 - 17:57 | 4775151 withglee
withglee's picture

at $119 billion in 2013, the United States was the biggest gambling loser in the world.

Does this include government run lotteries where the government (house) takes 50% right off the top, then taxes the winnings at 50%?

Mon, 05/19/2014 - 18:03 | 4775168 freddymercury
Mon, 05/19/2014 - 19:42 | 4775472 NoWayJose
NoWayJose's picture

Chinese casinos are way busier than Las Vegas so I bet their take is much higher - even if not as well reported.

Mon, 05/19/2014 - 22:03 | 4775916 Aussiekiwi
Aussiekiwi's picture

I bet you Australia will be lower than NZ next year.

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