Gambling has always been in high demand in Asia. Their history on the continent goes back thousands of years: the first games were invented in China in ancient times. From mahjong to keno, which, by the way, built the Great Wall of China, gambling in this part of the world has long attracted a huge number of people.
Now, with the latest technological advances and the growing popularity of online casinos and gambling sites, the gambling scene in Asia is slowly re-emerging. The market is no longer limited to land-based establishments: Internet sites are also beginning to play a significant role.
Not all Asian countries, however, welcome gambling in any form, let alone online gambling. Islamic laws and strict casino policies hinder the development of the gambling market and have an extremely negative impact on the economic potential of this area.
In recent months, the coronavirus has forced many countries in Asia to turn their attention to online gambling, and this has provided operators with an ideal opportunity to enter one of the fastest growing markets in the world. Below we will talk more about gambling in Asia, the role of online gambling and the opportunities for online casinos. The popular Portuguese casino expert Antonio Matias and his project CasinoReal will help you learn more about casinos.
General overview of the Asian gambling market
Each state in Asia has its own view on gambling. In predominantly Muslim countries, gambling in any form is completely prohibited. Others operate various types of gambling sites, from state lotteries and bookmakers to large casinos. The main gambling centers in Asia are the so-called gambling and entertainment resorts in Macau and the Philippines.
Macau is the largest gambling hub in the world, with over 40 million tourists visiting its luxurious casinos to enjoy quality poker, baccarat, roulette, blackjack and more. Although China prohibits all types of gambling, Macau is a special administrative region, which allows casinos to operate freely in this territory. Gambling accounts for more than half of Macau’s total revenue, more than $50 billion a year.
As for Japan, there is a positive development. In 2016, changes were made to gambling laws, according to which the opening of land-based casinos was allowed.
In Thailand, Cambodia and Vietnam the situation is similar. States seek to attract wealthy Chinese tourists with an abundance of affordable games and first-class service.
In recent years, the Asian market has shifted towards the online realm and currently accounts for over 11% of the global Internet gambling market, second only to Europe.
So, in 2019, the income from online casinos in Asia exceeded $70 billion, and this number continues to increase every year. And yet, the main problem with online gambling remains its legality.
Is Online Gambling in Asia Legal or Not?
The legal status of online gambling in Asia varies from country to country. It is technically banned in most Asian states. However, the laws do not apply to players who play on foreign sites, and although some countries, such as China, try to block access to these sites, gamblers still visit them using virtual private networks (VPNs).
The biggest steps in legalizing online casinos have been taken by the Philippine government. Thus, the Philippine Entertainment and Games Corporation was established, the body responsible for licensing online casinos and betting platforms. Companies licensed by the regulator are now free to operate in the country, which has significantly reduced the percentage of illegal operators and brought more than $3 billion to the treasury.
Can a business in this area be profitable in Asia?
Despite legal hurdles, the online casino industry in Asia is thriving. Gamblers play on leading foreign sites, thus avoiding any problems with the law. Moreover, more and more countries are starting to look at online gambling as an additional source of funds, especially now that the global economy has suffered a devastating blow as a result of the coronavirus pandemic.
According to official statistics, the industry is growing by 50% annually in terms of both the number of players and the profits of operators, and, of course, joining it will be a potentially profitable decision.
When working in Asian markets, you need to carefully select games for your platform: these should be slots with an oriental theme, as well as baccarat, pai gow and other table games of Asian origin. A good move would be to add a wide range of payment methods, including cryptocurrencies, e-wallets, credit / debit cards and mobile banking systems, which are widely popular in Asia. For example, for Portuguese players there is a good opportunity to see the best casinos with payment system mbway casinos. Finally, each operator must offer the option to play from mobile devices. Most Asian gamblers use smartphones and tablets to play, and a stable mobile casino is a must.
Conclusion
Now is a great time for gambling operators to get started in Asian countries and take advantage of all the opportunities that this growing market offers. Online casinos in Asia can be a very lucrative business and the sooner you select the right white label or turnkey gambling products for you, the better your market position will be.
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