With the many technological developments around the globe, online gaming activities have become prevalent for many internet users. The major areas of online gaming are online casinos and online gambling.
As of now, Asia is the largest gambling market, especially because its population makes over 60 percent of the global population. The industry has also gained popularity in many countries around the world like the USA, Kenya, Europe among other nations.
With online gambling, local and international boundaries are a thing of the past. This is because people are able to access gambling sites on their mobile devices regardless of their physical location. The online gambling sites provide users with various games with an enriched casino experience, saving them the costs of visiting a real casino.
The Grey Market
The grey market involves a situation whereby iGaming is not illegal, but not regulated either.
The idea surrounding grey markets is not new. Operators in the past have eyed the less regulated markets so that they can have more profit margins. Many companies were trooping to Southern Asia thinking that they will make easy money. However, this isn’t the case.
In recent years, many companies that have come to Asia with that mentality have gone back to their local market disappointed. Today, the only way to penetrate the Asian market is to have a solid plan and understand the market structure.
This means understanding the product requirements and whether it aligns with your current infrastructure.
As the online gaming market continues to experience rapid growth due to advancements in new technology and internet availability, it may be time to explore the fastest growing online gaming market – Asia.
India
The online gambling market is experiencing rapid growth in India. Although gambling is not fully legalized in India, with horse racing and lotteries being the only gambling activities fully legalized, it is still very popular in the country.
In 2018, India was among the top five nations in the iGaming industry, with its market worth amounting to $1 billion, and obviously, it has grown from there. The increased popularity of online gaming and Indiaslots can be attributed to the country’s demographics.
China
China boasts of various forms of betting activities such as lottery, sports and slot machines. However, some of them like poker, casino games, mahjong, and non-approved betting sites are forbidden. The Chinese Sports Lottery enjoys a monopoly on all games betting in China, but the authorities track down agents, promoters, operators, and junkets.
While online gaming and gambling are very popular in China, it is highly illegal and betting lovers prefer international licensed websites because they offer a large variety of sports games, live casino games, and in-play betting options.
When it comes to land-based casino games, most Chinese players prefer traveling for 1 or 2 days to Macau, where most gambling activities are allowed.
Philippines
Philippines’ gaming market is considered mature because it has many forms of gambling. The country has a unique approach to online gaming and gambling, having two areas for gambling purposes. They are the Philippine Amusement and Gaming Corporation (state-owned) which operate online casinos, sports betting, bingo and all land-based casinos, and the Cagayan Freeport which is the only region free from PAGCOR monopoly.
Because PAGCOR owns and operates some online casinos, the online gaming industry in the Philippines is considered safe for players. Online casinos bearing either PAGCOR or Cagayan license are safe for players because they have been verified.
Japan
Online gaming in Japan is an intriguing topic. There are no land-based casinos in Japan, but before the end of the year, the result of public consultation about the country’s first casinos might be released.
The only gambling activities permitted in Japan are scratch cards, bicycle and motorcycle racing, lottery, pari-mutuel betting, soccer toto wagers, and powerboat racing.
Currently, there is no centralized authority mandated to oversee the gambling activities in Japan. Instead, various government sectors regulate the various parts of the industry, which makes people confused about what is allowed and what is not.
However, despite the many restrictions put by the government, online game lovers can still access foreign gambling websites, meaning iGaming is still very popular in Japan.
Japan and India remain among the biggest markets globally. As casino operators are slowly moving away from the UK, Sweden, and other widely regulated regions, India and Japan appear to be some of the preferred destinations.
