However, not all countries in Asia welcome gambling in any form, let alone online gambling. Islamic law and strict gambling policies are impeding the development of gambling outlets and hurting the economic potential that gambling has.
In recent months, the coronavirus forced countries across Asia to tap into the potential of online gambling, which is made for a perfect opportunity for online casino operators to expand their reach in one of the fastest-growing markets in the world.
Below, we will further discuss the gambling markets in Asia, the role of online gambling, and the opportunities for online casinos.
General Overview of the Asian Gambling Market
Macau is the world’s largest casino hub, with more than 40 million tourists visiting its glitzy and lavish casino resorts looking for top poker, baccarat, pai gow, roulette, and blackjack games. Even though China bans all forms of gambling, Macau is a special administrative territory, which allows it to run casinos freely. Gambling accounts for more than 50% of all revenue in Macau, which is estimated to be worth over $50 billion per year.
Japan seems to have followed suit and made changes to its gambling laws in 2016 to allow the establishment of land-based casinos.
A similar situation is seen in countries like Thailand, Cambodia, and Vietnam, which are looking to target the wealthy Chinese tourists looking for premium gaming and service.
In recent years, the Asian market has shifted towards the online gambling sphere and now accounts for more than 11% of the world’s online gambling market, second only to Europe.
The online gambling industry in Asia generated over $70 billion in 2019, and the number keeps growing year after year. Still, the biggest issue with online casinos in Asia remains their legality.
Online Casino and Gambling in Asia — Is It Legal?
The biggest strides in legalizing online casinos and gambling have been made by the Philippines. The Philippine authorities have established The Philippine Amusement and Gaming Corporation (PAGCOR), which is in charge of licensing online casinos and betting sites. Online casinos with PAGCOR’s license can operate freely in the country, which has diminished the presence of illegal gambling and brought over $3 billion in revenue.
Can Online Casinos Be Successful Businesses in Asia?
By looking at the official statistics that say online gambling is seeing an annual increase of around 50% in both the number of players and revenue, it seems only natural to want to get a piece of that action.
All Asian online casinos need to include carefully selected games, such as Asian-themed slots, baccarat, pai gow, and other popular games. Also, there must be a good choice of diverse payment methods, such as cryptocurrencies, e-wallets like Union Pay, credit/debit cards, and mobile banking systems that are vastly popular in Asia. Last but not least is the mobile casino gaming option that all casino operators should offer. The majority of Asian players indulge in mobile casino gaming on the go, so having a stable mobile casino site is a must.
