A cultural belief in luck and fate has historically prevailed in many areas of Asia. This could be why the citizens of many Asian countries have enjoyed wagering money on sports and games over the years, even when there has been an issue with legality.
In many countries, like Pakistan, there is no legal market for gambling while in countries like India legality is a grey area because there is no little current regulation in place. There are also areas of Asia, like Macau, which are built on the ethos of gambling. The fact is that overall the gambling market in Asia as a whole is healthy.
Fastest growing gambling market
Not only is gambling popular in Asia, the Asia-Pacific region is thought to have the fastest growing gambling market in the world. This is why companies like the brand Showlion are starting to provide content that is dedicated to players in countries like India.
This also means that in parts of Asia where gambling is legal, the state is securing large amounts of revenue from the sector. Even in areas where gambling is not regulated, offshore casinos are very popular.
The rise of online casinos in Asia
The fact is that even in countries and areas where there is no legal recognition of gambling, offshore online casinos are popular. This includes countries like China where gambling is legitimate in areas like Macau but not in other places. The fact is that the online casino boom in China is worth billions of dollars even though it’s not popular with the Chinese government.
The situation regarding gambling is different in various parts of Asia. In Pakistan it’s illegal, although sports betting does take place. In India there is no country-wide modern regulation when it comes to online gambling and land-based gambling is only recognised as legal in a few states. This has not prevented an appetite for offshore online casinos from developing. In Japan, gambling is regulated and the government is keen to raise potential revenues from the activity.
The future of gambling in Asia
It seems as though the gambling market in Asia will continue to grow, depending on any further regulatory measures which may be taken by governments or individual states. Certainly, in countries like Japan, there seems to be an appetite for raising government revenue from regulated gambling.
Even in areas where this regulation is not in place, it seems likely that individuals will still relish the opportunity to wager money on sporting events and games. Much of this wagering is likely to take place in offshore online casinos which are happy to cater for an Asian audience.
It’s unlikely that all Asian countries will ever come into line with each other, when it comes to the subject of gambling. There will always be a difference in approach. Even though this is the case, and gambling has not been legalised in many areas, there is still a healthy gambling market in this part of the world that seems set to continue to have the potential to generate millions of dollars of revenue.