$120 billion in 2024 and rising: Jamaicans love gambling

 

At the half year mark in 2024, total sales for the gambling industry in Jamaica were J$123 billion and rising as the islanders indulged their love of games of chance.

Jamaicans, on average spend in the region of $240 billion annually on gambling, based on data from the Betting Gaming and Lotteries Commission (BGLC). Gaming lounges in St. James and St. Andrew account for more than 60 per cent of sales, meanwhile.

The rising trend in spending on gambling is similar Caribbean wide. According to Thecaribbeancamera.com, by the end of 2022 the industry was worth around US $1.22 million in the region, with the annual growth rate to 2027 projected at11.12 per cent per annum

BGLC reported total industry sales in Jamaica between January 2024 to March 2024 amounted to J$63.949 billion. This represented an increase of 3.86 per cent when compared to the same quarter of the previous year. (January 2023 to March 2023), which generated sales of $61.574 billion.

The total sales for the industry in the first quarter of April 2024 to June 2024 amounted to J$60.969 billion. This represented an increase of 2.39 per cent when compared to the same quarter of the previous year. (April 2023 to June 2023), which generated sales of $59.546 billion.

For the similar six month period in 2023, revenues were $120 billion in total.

The total sales for the industry in the second quarter of July 2023 to September 2023 amounted to J$63.159 billion. This represented an increase of 3.34 per cent when compared to the previous quarter (April 2023 to June 2023), which generated sales of $61.116 billion.

The total sales for the industry from October 2023 to December 2023 amounted to J$61.191 billion. This represented a decrease of -3.72 per cent when compared to the previous quarter (July 2023 to September 2023), which generated sales of $63.557 billion.

Casino apps are said to be valuable in the Caribbean, with in-app purchases in such apps worth almost US$775,000 annually. At the end of 2021, Puerto Rico, Aruba and the Dominican Republic had a total 11,000 slot machines.

Antigua and Barbuda are also significant industry players. However, Curaçao is bigger with gambling licenses account for around half of the island’s GDP.

Jamaica in 2024

The total sales for the industry in the fourth quarter of January 2024 to March 2024 amounted to J$63.949 billion. This represents an increase of 3.86 per cent when compared to the same quarter of the previous year. (January 2023 to March 2023), which generated sales of $61.574 billion.

The gaming sector experienced an increase of 10.27 per cent in sales, while the betting and lottery sectors recorded decreases of 5.18 per cent and 5.39 per cent respectively.


Bookmakers’ sales in the sports betting segment declined by 5.32 per cent and simulcast horseracing sales increased by 17.33 per cent.

Local horseracing recorded a decrease of 17.31 per cent. In contrast, the racing promoter experienced an increase of 19.05 per cent for simulcast racing and a decrease of 17.79 per cent in local racing sales.

In the non-gaming sector, Supreme Route, operating seven locations with a total of sixty-two (62) gaming machines, generated 67.80 per cent of the total sales and contributed 44.38 per cent of the revenue. Gaming lounges in St. Andrew and St. James accounted for 68.42 per cent and 27.08 per cent of total sales, respectively, in the fourth quarter. Overall sales increased by 10.3 per cent compared to the previous quarter.

The total sales for the industry in April 2024 to June 2024 amounted to J$60.969 billion. This represents an increase of 2.39 per cent when compared to the same quarter of the previous year. (April 2023 to June 2023), which generated sales of $59.546 billion.

The gaming and lottery sectors experienced an increase of 3.68 per cent and 1.29 per cent in sales respectively, while the betting sector recorded a decrease of -2.23 per cent. Bookmakers’ sales in the sports betting segment declined by -0.06 per cent and simulcast horseracing sales increased by 75.98 per cent. Local horseracing recorded a decrease of -15.88 per cent.

In contrast, the racing promoter experienced an increase of 1.08 per cent for simulcast racing and a decrease of -10.25 per cent in local racing sales. In the non-gaming sector, Supreme Route, operating seven locations with a total of sixty-three gaming machines, generated 66.50 per cent of the total sales and contributed 44.84 per cent of the revenue.

Gaming lounges in St. Andrew and St. James accounted for 67.10 per cent 28.23 percent of total sales, respectively, in the first quarter. Overall sales increased by 3.70 per cent compared to the previous quarter.

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