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Israel is a Gambling Nation

A survey by a leading Israeli newspaper has shown that Israelis love gambling and they spend more than double on gambling a year than Americans, per capita. A top Israeli business newspaper, Globes, has reported that Israelis spend 10 billion New Israeli Shekels (NIS) a year on gambling. The survey about gambling trends in the country, conducted by Credit Information Association, shows that the Israelis have overtaken both Americans and Europeans in their gambling habits, spending more on legal gambling activities per capita.

The survey compared Israelis to Europeans who spend an average of $135 a year on gambling and Americans who spend an average of $250. The astounding results were that Israelis spend an average $440 a year on gambling activities. Out of the NIS 10 billion spent on gambling, NIS 3.5 billion is spent on the lotto regular lottery draw and Toto sports betting tickets. Another NIS 1.5 billion is spent on legal bets placed through the Internet and cellular networks.

In addition, Israelis spend NIS 5 billion a year on illegal gambling activities in Israel and overseas. The profile of the gambling Israeli is a 40-60 year old, lives in the city has an average income and regularly buys lotto regular lottery draw tickets, Toto sports betting tickets and lottery cards and Chance lottery draw tickets. Gambling is also popular with the 16-35 year old population which makes up 30% of the lottery card purchase group.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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