Features
Size of the table: Just how big is world’s gambling business? Part I
by Prof. C. A. Saliya
The first of a five-part series on the business of gambling: legal, illegal, and everything murky in between.
It is a Friday evening in Colombo. On the waterfront, a queue of well-dressed tourists files past a doorman and into the blinking lights of a casino floor, where a croupier is dealing baccarat to a table of high rollers. A few kilometres away, under an awning strung with festival lights, reading a racing paper from dawn to dusk, a group of neighbours sit cross-legged around a well-worn deck of cards, playing a fast, noisy game called Buruwa, small notes changing hands with every round. And in a bedroom somewhere between the two, a 19-year-old is staring at his phone, watching a candlestick chart jump up and down, one thumb hovering over a “Buy” button on a trading app he downloaded because a friend said it was “basically like the stock market, but faster.”
Four completely different scenes. Three completely different legal statuses, one fully licensed, one technically a legal offence, one not even classified as gambling at all. And yet, underneath the silk shirts, looking at the odds and potential winner of a sports event such as horse racing, the card mat/table, and the trading screen, all four people are doing exactly the same thing: putting money at risk on an outcome they don’t control, against a system built to take more from them than it gives back.
That is what this five-part series is about. Not whether gambling is right or wrong, readers can decide that for themselves, but what it actually is, as a business. How big is it? Who really profits from it? Why do some countries embrace it while others jail you for it? And why does something as old as dice and as new as a forex app keep reinventing itself, generation after generation, under different names?
A business bigger than most countries
Start with the numbers, because they are almost too large to take in.
The part of the gambling industry that operates in the open, licensed casinos, regulated sportsbooks, state lotteries, officially approved betting apps, is itself enormous. The global casino industry alone was worth an estimated $328 billion last year, and is expected to grow to nearly $580 billion within the decade. Just one city, Macau, generates more casino revenue in a year than most countries collect in total tax. Online betting and gaming, taken together, is projected to be worth well over $200 billion by the early 2030s.
But that is only the legal half of the picture, and it may not even be the bigger half.
According to a recent industry study, the world’s unregulated online gambling market, offshore casinos, unlicensed sportsbooks, betting apps operating without a licence anywhere near their customers, was worth an estimated $5.9 trillion in 2025. Trillion, not billion. The same report described this shadow industry as effectively the third-largest economy on Earth, behind only the United States and China, with unlicensed operators now taking in roughly three-quarters of all the money wagered online worldwide. In the United States alone, a country with plenty of legal, regulated betting options, illegal gambling operators reportedly pulled in nearly $100 billion last year, and that figure has been growing even as more American states legalise betting, not shrinking.
That last point is worth sitting with for a moment, because it cuts against the assumption most people make: that legalising something automatically starves the black market that grew up around it. Sometimes it does. But sometimes, and gambling seems to be one of those times, legalising a small, taxed, tightly-regulated slice of the market just makes the whole pie bigger, and the illegal operators simply grow alongside the legal ones, competing for the customers the legal market doesn’t reach or doesn’t satisfy.
Why is gambling illegal here, but legal there?
Roughly 40 countries ban gambling outright, no casinos, no betting shops, no lottery tickets, nothing. Most of them are in the Middle East and North Africa, where the ban traces back to Islamic teaching that treats games of pure chance as a kind of theft dressed up as entertainment, taking someone’s money without giving them anything of real value in return. Saudi Arabia can jail you for years for running an illegal gambling operation. Places like Qatar and Kuwait actively block gambling websites at the national internet level.
Then there is a much larger, blurrier middle ground, countries where gambling is technically restricted but everybody does it anyway, more or less in plain sight, because enforcement is patchy or simply not a government priority. Sri Lanka, as we’ll see across this series, sits partly in this middle ground itself: horse racing and licensed casinos are legal, a village card game played at every second festival is technically not, and online betting occupies a grey zone the government is only now trying to define properly.
And then there are the countries, an increasingly long list, that have gone the other way entirely: from banning gambling to actively licensing and taxing it, because they decided a controlled, visible industry was easier to manage than an invisible one they couldn’t tax or police at all. The United Arab Emirates, historically one of the strictest prohibition states in the Gulf, is in the middle of exactly this pivot right now, setting up its first licensed casinos and a national regulator from scratch.
Older than money itself
Gambling did not arrive with casinos, and it certainly did not arrive with smartphones. Archaeologists have found dice carved from animal bone in Mesopotamian ruins thousands of years old. One of the oldest stories in Indian literature, the Mahabharata, turns on a disastrous game of dice that costs a king his kingdom, his brothers’ freedom, and very nearly his wife’s dignity, a three-thousand-year-old cautionary tale about exactly the kind of “one more hand” thinking that still ruins people today. Renaissance Venice opened what many historians consider the first true public casino, the Ridotto, in 1638, a government-sanctioned gambling house, tellingly, set up specifically so the state could control and tax an activity it had already failed to stamp out through banning it.
Sri Lanka’s own relationship with gambling follows a similar, very human pattern: the activities favoured by the wealthy and the colonially connected, racecourses, private clubs, card games played for high stakes behind closed doors (in five-star hotel rooms), tended to be tolerated or quietly legalised, while the games played by ordinary people in villages and back streets were the ones written into law as crimes. That gap opened under British rule with horse racing on one side and an 1889 law criminalising “unlawful gaming” on the other, and in many ways it has never fully closed. Sri Lanka is now in the middle of its biggest gambling law shake-up in decades, with a new Bill working through Parliament that would scrap three separate old ordinances, on horse racing, general gambling, and casinos, and replace them with a single modern regulator responsible for everything, from a Colombo casino floor to an online betting app. Whether that new regulator actually closes the old gap between “gambling the wealthy do” and “gambling everyone else does” is a question we’ll come back to throughout this series, and especially in our final instalment.
What’s coming next
Over the next four weeks, this column will go deep into each corner of the gambling world:
Part 2
takes us inside the casino business itself, from the glittering, foreign-passport-only casinos of the Colombo waterfront, down to the humble village card game Buruwa (sometimes called “Baby Cutting”), which has been technically illegal since 1889 and is played completely openly at almost every festival (and in funeral houses) in the country anyway.
Part 3
looks at a form of gambling that doesn’t call itself gambling at all: online trading apps that let ordinary people bet on currencies, gold, and oil prices, often marketed as “investing,” even though the industry’s own disclosures show the overwhelming majority of users lose money. However, there are restrictions imposed by the Central Bank of Sri Lanka under the foreign exchange control.
Part 4
turns to sport, and specifically the oldest continuously legal form of betting almost everywhere in the world, horse racing, to explain, in plain terms, exactly how a bookmaker guarantees itself a profit no matter which horse wins.
Part 5
brings it all together, asking what fair, honest regulation of all these forms of gambling would actually look like, and whether Sri Lanka’s new law is close to getting there, or still years away.
Every one of these industries, the casino, the card circle, the trading app, the racecourse, shares the exact same mathematical backbone: a built-in edge that belongs to the house, dressed up in whatever costume makes it feel like something else, sport, investment, tradition, entertainment. The rest, as we’ll spend the next four weeks proving, is just packaging.
Next week: Part 2, From Bally’s to the Backstreet, inside the business of casinos and cards.
(Prof. C. A. Saliya, is a charted accountant, academic, researcher and former banker. He is the author of SAMAJA GAVESHAKAYA and Springer Publication DOING SOCIAL RESEARCH. He can be contacted at . The views expressed in this article are his own and do not necessarily represent those of the organisations with which he is affiliated.)
Features
Why ‘Southasianness’ should continue to matter for the ‘SAARC Eight’
At a time when Sri Lanka’s foreign policy is coming under intense scrutiny by some local sections it is only right that impartial and independent commentators shed some clarity on what fundamental foreign policy directions Sri Lanka ought to take. The extremely fluid and complex nature of current international politics renders such an understanding crucially important.
Given its vulnerabilities in a number of spheres Sri Lanka has no choice but to persist in broadly following the path of Non-alignment. That is, it should be ‘a friend of all and an enemy of none’, to the extent possible. However, it does not follow that in the process it could compromise what is seen as its national interest.
The latter point needs stressing against the backdrop of the criticisms the Sri Lankan government has been attracting from some quarters over what is made out to be some opaqueness in security and defence cooperation agreements it has entered into with India. It remains advisable for the Sri Lankan government to enter into pacts of this nature with India, but the government is obliged to disclose the contents of these agreements to the Sri Lankan people without undue delay in consideration of the uncompromisable sovereign rights of a people in a democracy.
However, there is no denying that the government should make it a central foreign policy premise to always work in cooperation with India. A consideration of what it cost Sri Lanka in the past to be in a disharmonious relationship with India and how such policy missteps worked against Sri Lanka’s best interests ought to dictate to Sri Lanka the advisability of maintaining uninterrupted cordial ties with India. Moreover, common sense ought to drive home to a country the costs of being at loggerheads with one’s closest neighbour who has also proved a ‘ready friend in deed.’
That said, it is the bounden duty of Sri Lanka’s diplomatic community or establishment to ensure that such cooperation does not degenerate into a policy of subservience towards India. That is, finesse and farsightedness in local diplomacy become prime requirements.
While India’s geographical location and physical size, besides her other strengths, contribute towards her centrality in regional and world affairs, her neighbours would be thinking and acting far-sightedly if they not only focus on India and her legitimate interests but also ensure continuous friction-free intra-South Asian relations. That is, for them collective South Asian well being should be of fundamental importance.
Much more than for India perhaps, such harmonious ties are of inestimable importance to India’s neigbours who are up against multiple vulnerabilities which are to a great extent regionally rooted. The latter could never, that is, afford to take their minds off the region’s collective development prospects.
The above are some of the reasons why it could prove highly counter-productive and self-defeating for the ‘South Asian Eight’ to render dormant and ineffective the historic SAARC organization. Rather than ‘dead’ SAARC has been allowed to drift into the ‘Limbo of Forgotten Things.’
The growing inter-dependence of the ‘SAARC Eight’ ought to impress on the collectivity the need to step-up regional cooperation in multiple areas which impinge on its members’ legitimate interests. For instance, the youth-led ‘Cockroach’ revolts, first in India and subsequently outside, should convince South Asia that it is continuing to be plagued in a major way by poverty and equity-linked issues. That is, West-inspired, largely market economics-dictated ways to see an end to poverty are simply not working completely.
Likewise climate-related questions are ravaging South Asia in unimaginable ways; Nepal being just one case in point. The rationale for regional cooperation remains valid and undefeated. It is time for revived and stepped-up SAARC cooperation. That is, the solutions to the region’s development dilemmas need to be found in mainly the region.
This amounts to making a case for a continued sense of ‘Southasianness’ among the SAARC countries. That is the conviction should be firm that they know their developmental challenges best and that answers to these issues must be primarily evolved by the grouping itself in cooperation with concerned sections.
From the above viewpoints the Regional Centre for Strategic Studies (RCSS), Colombo did very well to tie-up with the South Asian University (SAU), India, to increase public awareness on the developmental problems affecting South Asia and for initiating a number collaborative measures that aim at ameliorating them. The relevant agreement was formalized in early September at the RCSS. The sealing of the pact took place under the aegis of SAU President Prof. K.K. Aggarwal and RCSS Executive Director Ambassador Ravinatha Aryasinha.
A press release issued by the organizations said the collaboration aims ‘to foster research networks, partnerships and collaborations for transformative change across South Asia.’ It also mentioned that the partnership marked the first agreement to be signed by SAU with an independent think tank in Sri Lanka.
Among other things, pacts such as the above are bold moves in the direction of fostering a spirit of intellectual independence in those areas of the South facing some of the stiffest developmental challenges. Rather than ‘import’ solutions to these challenges from outside the region, the SAU-RCSS initiative aims at fostering fresh approaches to evolving solutions to problems that are uniquely South Asian.
It is hoped that the SAU and RCSS initiative while leading a to a greater degree of Southern intellectual independence in the area of development thinking would also help in kick-starting the SAARC process all over again in a major way.
What ought to lend fresh urgency to the latter undertakings are fast-breaking current developments in international politics. It ought to be perceived by the most underdeveloped regions of the South that going forward their well being would matter least or not at all to the major powers of both East and West.
For example at the time of writing the foremost among US and Chinese political leaders are meeting in the US in what is made out to be a historic coming together of sorts to address issues of common concern. It is highly unlikely that the parties would be addressing the economic preoccupations of the least developed countries. The same goes for other states that matter from the East and West.
Essentially, the US and China would be looking at ways of strengthening business ties that matter majorly for them. The South and its issues would prove to be of peripheral interest, if at all they happen to matter to the protagonists. Such developments ought to be fresh reminders to the South and their collaborative organizations that there is no escaping self-help and joint solidarity.
Features
Is Sri Lanka prepared for global literacy crisis?
by Prof. M.W. Amarasiri de Silva
Adult literacy has for a long time been one of Sri Lanka’s greatest sources of pride, serving as a social indicator that has set the country apart from several of its neighbours in the region. For many years Sri Lanka has been recognised for keeping its literacy rates at a level like those of middle-income countries and even some high-income ones, even though it has faced economic difficulties and political instability. However, since new global research has now shown an unexpected and concerning decline in adult literacy in several high-income countries, it is important to consider what this means for Sri Lanka.
The phenomenon described by Jishnu Das, Yash Dhuldhoya and Ethan Sager, the unexplained fall in functional literacy among adults in wealthy nations. calls for a more thorough examination of the nature of literacy, the pressures exerted by the modern information environment, and the vulnerabilities that Sri Lanka might encounter as it moves towards a more digital, ageing and complex society. Even though Sri Lanka’s basic literacy rates remain high and steady, the global trend acts as a warning that literacy is not a fixed accomplishment but a dynamic capability which must be continually fostered, safeguarded and adapted to changing circumstances.
Decline in functional literacy
The drop in literacy rate in high-income countries is not due to people losing the ability to read or write in the ordinary way. On the contrary, it reflects a decline in functional literacy, which is the capacity to deal with, understand, and apply information in real-life situations. This kind of literacy involves following instructions, comprehending official documents, using digital interfaces, interpreting medical information, and making sense of complicated texts that demand continuous attention.
Researchers stress that the decline cannot be attributed merely to disruptions caused by COVID-19 or the increasing use of smartphones; instead, there is going on something more fundamental: a weakening of the cognitive and informational bases that adults need to function properly in modern society. In countries such as the United States, the percentage of adults regarded as functionally illiterate has increased significantly, indicating that even highly educated societies are having difficulty in keeping up the skills required to handle ever more complex streams of information.
Sri Lanka immune?
At first sight, Sri Lanka seems to be immune from this trend. The country’s adult literacy rate is still above 92 per cent and youth literacy is even higher. According to the 2024 Census, literacy rates exceed 97 per cent among people aged ten and over, with nearly equal levels between the sexes. These figures show the continued strength of Sri Lanka’s system of free education, a system which in the past has guaranteed widespread access to school and has produced generation after generation of citizens who could read and write at a basic level.
There has also been a steady improvement in educational attainment, with an increasing number of adults finishing secondary education and a larger proportion going on to tertiary institutions. Unlike the mysterious drops observed in rich countries, Sri Lanka’s literacy figures demonstrate stability and even a slight improvement.
However, although the surface appearance is reassuring, an even more complicated reality exists. The literacy figures for Sri Lanka only record basic literacy, that is, the ability to read and write simple sentences, and they do not include measures of functional literacy. It is impossible to tell from these statistics whether adults can interpret a bank statement, understand a medical prescription, use an online government portal, or critically assess information that is spreading on social media. As is shown by the global trend, having a high level of basic literacy does not ensure a strong degree of functional literacy. On the contrary, functional literacy can fall even if basic literacy stays the same. This difference is important for Sri Lanka, particularly since the country is currently experiencing rapid digitalization, demographic ageing, and social change.
Major risk factor
A major risk factor is the move towards digital information environments. In high-income countries, researchers believe that the prevalence of smartphones and short-form digital content may be diminishing people’s ability to engage in deep reading. Nowadays, individuals take in information in short, rapid segments by scrolling through social media feeds, quickly reading headlines, and viewing short videos. Such behaviour decreases the opportunity for sustained reading, which is necessary for keeping comprehension, critical thinking, and the capacity to deal with complex information intact.
Sri Lanka is going through a comparable change. There has been a sharp increase in the number of people using smartphones, and social media sites have become the main sources of news, leisure, and communication. Although there are many advantages to having digital access, it also results in a situation where superficial reading becomes the standard approach and could therefore lead to a decline in functional literacy over time.
Demographic ageing as challenge
A further challenge that is coming up is demographic ageing. Sri Lanka is rapidly moving towards becoming an ageing society, with an increasing number of older people who might experience cognitive decline, have less exposure to new information, and enjoy few opportunities for further learning. In high-income countries, ageing populations have led to a fall in functional literacy since older individuals have had difficulty adapting to digital systems and complicated bureaucratic procedures.
The older generation in Sri Lanka, many whom were educated many decades ago under different curriculum standards, could end up becoming increasingly vulnerable in a world in which essential services, such as banking and healthcare, are being moved online. If appropriate support is not provided, the country may witness a growing gap between basic literacy and functional literacy among older adults.
In Sri Lanka, the way in which administration and the workplace are organised has in the past placed greater trust in personal communication and on basic forms of documentation. What in high-income countries would require complex reading is instead carried out through face-to-face contact in Sri Lanka. Nevertheless, this situation is now changing. Government services are becoming available online, banks are introducing digital systems, and in workplaces there is an increasing need for employees to use electronic systems. Since these changes are happening at a faster rate, the demand for functional literacy will increase. Should adults not be able to meet these new demands, Sri Lanka might start to see the kind of decline in literacy that has been seen in other places.
Misinformation and disinformation
Another worry is the spread of misinformation and disinformation. In Sri Lanka, there has already been the quick dissemination of false information via social media, with this having an impact on public health, politics, and social cohesion. Since functional literacy is essential for allowing people to assess sources, doubt the claims made, and tell the difference between reliable information and falsehoods, a lack of functional literacy causes societies to be more open to manipulation, polarisation, and confusion.
The fact that there has been a global drop in functional literacy at the same time as misinformation has increased points to a dangerous feedback cycle: when literacy is low people become more prone to misinformation, and the misinformation in turn damages their ability to think critically about information. Given that the country has a high level of social media use and a lack of digital literacy training, Sri Lanka should take this risk seriously.
Even though there are these risks, Sri Lanka has several advantages which can assist in avoiding a drop in functional literacy. The country’s system of basic education is still strong, showing high enrolment figures and good results in basic literacy.
Families in Sri Lanka still place a great deal of importance on education and reading is still a respected cultural activity. Furthermore, because of its relatively small size and the fact that it has a centralized form of government, it is more efficient than in bigger countries to carry out nationwide literacy campaigns. These strengths offer a firm basis for developing new strategies for protecting and improving functional literacy.
Literacy a process
It should be realised by Sri Lanka that attaining literacy is not a single accomplishment achieved in childhood. In the modern world, literacy must be a skill that is constantly put into practice, kept up to date and adapted to changing circumstances. The fact that adult literacy is declining worldwide shows that even in wealthy countries with well-developed education systems deterioration can occur if adults are not supported in keeping their cognitive and informational abilities. Sri Lanka cannot afford to be careless.
It is necessary for the country to invest in adult education, in programmes concerning digital literacy and in the development of cognitive skills for all age groups. It also needs to establish ways of measuring functional literacy rather than just basic literacy so that policymakers can detect emerging weaknesses and act in advance.
A vital measure is to increase the opportunities for adult learning. Although Sri Lanka has effective literacy programmes based in schools, the country’s infrastructure for adult education is limited. Community centres, libraries, universities, and vocational institutes should take on a more significant role by providing courses, workshops, and reading programmes which are tailored for adults. The programmes should place an emphasis not just on reading and writing but also on digital navigation, critical thinking, and information processing. Adults should be given the chance to practise the skills that are necessary for them to function effectively in a rapidly changing world.
Importance of digital literacy programmes
It is just as important to have digital literacy programmes. Since an increasing number of services are being offered online, adults need to learn how to use digital tools with confidence and in a safe manner. This involves knowing how to fill out online forms, moving around on government websites, using banking apps, and being able to spot misinformation. The digital literacy courses available should be accessible, affordable, and adapted to different age groups, especially older adults who might feel put off by technology. Schools can also contribute by incorporating digital literacy into their curriculum so that future generations acquire good functional literacy skills from an early age.
Sri Lanka should also investigate introducing policies which promote cognitive health among older people. Since cognitive decline can lead to a deterioration of functional literacy, it becomes more difficult for older individuals to deal with information. It is possible to help keep cognitive function by setting up programmes that promote reading, social interaction, physical activity, and continued learning. During regular medical visits, healthcare professionals should include cognitive assessments so that any problems affecting literacy-related skills can be picked up early.
Sri Lanka needs to create tools for measuring functional literacy, since the figures available on basic literacy give an incomplete account of the country’s capabilities. By using assessments of functional literacy like those employed in high-income countries, Sri Lanka would be able to monitor how well its adults can apply their literacy skills in real-life situations.
Features
From Colombo to Vegas: Sri Lankan talent shines at WCOPA
The World Championships of Performing Arts (WCOPA) is known globally as the Olympics of performing arts, but Sri Lankans came to know of it more closely when Natharie Wickramasinghe, representing Team Sri Lanka at WCOPA 2026, in Las Vegas, earned a Bronze Medal in the Ethnic/Folklore Dance category.
Behind Sri Lanka’s WCOPA journey is Sri Lanka-born Chris Rajendra, who migrated to the United States in 2007, and deserves special congratulations.
Passionate about discovering and promoting talent, Chris has been actively involved in the pageant and performing arts, industry since 2002.
A major milestone came in 2015, when he introduced WCOPA, to Sri Lanka, for the first time, creating an international platform for Sri Lankan performers.
Sachini Ayendra became the very first candidate to represent Sri Lanka at WCOPA, in 2015, marking the beginning of Team Sri Lanka’s journey.
Chris served as National Director for Team Sri Lanka from 2015 to 2018, and has returned to the role for the 2026–2027 term, continuing his commitment to identifying, developing and promoting Sri Lankan talent internationally.
His involvement in pageantry and performing arts includes:
Recruiter, Miss Nevada United States – 2014

Chris Rajendra: National Director – WCOPA Team Sri Lanka
Manager, Miss Colombia Las Vegas – 2013 to 2017
Director for the West Coast and International Divisions of Ms. Latina International and Ms. International World – 2017
National Director for Team Sri Lanka – WCOPA, 2015–2018 and 2026–2027
Co-National Director for Team USA – WCOPA 2026
In the USA, Chris began his career in retail before transitioning into insurance and financial services, where he built extensive experience in sales, marketing, leadership and business development.
He owned and operated a brokerage, affiliated with multiple insurance companies, and later served as Marketing Director with Transamerica and World Financial Group.
As his business expanded across Las Vegas and California, he continued to hone his expertise in sales, marketing and client relations. He now works as a Sales Executive at Hilton Grand Vacations.
Looking ahead, Chris will shortly launch the application process for Team Sri Lanka 2027, giving talented Sri Lankan performers another opportunity to represent the country on the world stage.
The 2027 World Championships of Performing Arts will take place in Las Vegas, USA, in July or August 2027.
Through his work in both the corporate and performing arts worlds, Chris Rajendra continues to combine leadership, networking and talent development — creating opportunities for Sri Lankan performers to showcase their abilities on a global platform.
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