Online Casino Industry Business In Asian Markets

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2 years ago

Covid 19 has accelerated the growth of the Asian gambling market. But to date, that growth has not led to massive increases in national casino service offerings. Due to the sanctions adopted by the government, the players of Asia are still struggling to find casinos where they can make a profit or have fun without monetary aspirations.

The lack of Asian gambling platforms has led offshore operators to stand out and take the opportunity to attract players. One of the operators which break through and gain more and more attention from players in the Asian gambling market is GGbet. In the following text, we explained the current legal regulations related to gambling on this continent. We also highlighted several countries:

· Philippines

· Japan

· Singapore

· Thailand

· Malaysia

How does gambling legislation in Asian Countries affect the casino industry business?

On Facebook or another social network, you may have come across information about the legal regulation of Asian gambling. However, the given data may be incorrect and unverified. That is why we have prepared a brief overview of the legal norms of several Asian countries and highlighted all the proven facts.

1. The Philippines

Gambling laws in the Philippines are flexible. The state allows online sports, lottery, and horse racing betting. There are at least four gambling resorts in Manila. Aside from national operators, the Philippine government allows Filipinos to gamble online with regulated offshore companies. The success achieved by offshore operators indicates that the Philippine government may consider re-legislating gambling in the country.

Gambling industry in the Philippines is regulated by two institutions. The first is the Philippines Amusement and Gaming Corporation (PAGCOR), which is responsible for regulating national gambling operators and bingo service providers. There is also the Cagayan Economic Zone (CEZA) which licenses offshore online casino sites. According to research by Inside Asian Gambling (iAG), Philippine licensed casinos generated 557 million in the first quarter of 2022. By the end of the second quarter, this sum will surely increase.

2. Japan

Gamblers in Japan can legally bet on Pachinko, horses, online lotteries, and motorcycle racing. But, national online casinos are still banned in this country. Given that Japan is considered a trendsetter not only on the Asian continent but in the world, the legal acceptance of online casinos in this country would most likely lead to a drastic increase in gambling activities.

As in other Asian countries, offshore operators make money from Japanese players as well. The most common games chosen by Japanese residents are slots, table games with live dealers, Dragon Tiger, and others. We will highlight one more significant fact related to the government’s decision regarding gambling within the Japanese territory. Namely, in 2018, the government allowed the opening of the Integrated Resort.

This resort aims to provide tourists with sports betting and gambling at precisely foreseen and regulated places. However, during the coronavirus pandemic, there was a reduction in work among these operators. Finally, we would like to point out that it is estimated that the value of the Japanese gambling market will be 9 billion dollars in 2022.

3. Singapore

In 2005, the Singapore government approved the operation of an Integrated Resort (IR). Here, tourists, as well as residents of Singapore, can access casino games without any legal consequences. Online slots can be found at Marina Bay Sands and Resort World Sentosa. Approving casino slots in resorts was a smart move by the Singapore government. In just the first year of operation, gambling resorts increased the state budget by 14.5%.

Singaporeans can bet on sports, horses, and lottery in two physical sportsbooks. Since gambling, except in resorts, is prohibited in Singapore, offshore operators take a big profit. Players in the country who choose foreign gambling sites most often participate in card games or online slots. We expect that the legalization of national casinos will soon come to Singapore. Still, this is a country that is always open to innovation.

4. Thailand

Thailand has strict laws and traditional political beliefs that prevent the development and expansion of the gambling industry. Both physical and online casinos are prohibited on the territory of this country. However, this has not stopped Thai players from engaging in gambling activities both on land and on online platforms. The number of offshore companies in the country is increasing. There is also the development of the black market due to “underground” gambling.

According to research by the Center for Gambling Studies, despite legal prohibitions, half of the population in Thailand is involved in casino activities. The government of Thailand noticed this problem and approved the opening of 2 to 3 integrated resorts as a solution. The goal of these resorts is to provide a safe environment for Thai players, but also to increase the state budget. Data from 2019 shows that $5 billion was spent on sports betting in Thailand.

5. Malaysia

Malaysia is a country dominated by Muslims. Muslims observe special Sharia laws. This law prohibits members of the Muslim faith from any form of gambling. So, neither online nor physical gambling is allowed. But there are also those players who do not respect the law and participate in online casino activities. In addition to gambling, Malaysians mostly bet on football and badminton.

In Malaysia, the government has adopted the Betting Law. Betting law has been amended to allow non-Muslims and tourists to bet on lotteries and horse races. But this same law prohibits any form of online gambling in the territory of Malaysia. For those who do not comply with the legal norms, strict fines are foreseen. However, Malaysians do not seem to be bothered by the sanctions, as they continue to play slots and other casino games.

A summary of everything we previously presented

Laws are still strict in Asia. This prevents the development of casino businesses and the development of gambling markets in many countries. But, there are indications that the regulation of the provision of casino services will soon be more flexible. Numerous operators are waiting for this moment when they will be able to enter the gambling market legally and without any sanctions. The legalization of casinos will also bring benefits to the state by increasing the budget. Until then, Asian players can use offshore operators and gamble via Apple, Android devices, or PC without any restrictions.

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