Even before the emergence of online gaming, sports betting has already been part of the culture of some Asian countries such as China and Indonesia.
Nevertheless, the sports betting industry only leveraged on the advancements in modern technology to be able to offer their patrons with a more convenient way of placing their wagers. This marked the beginning of how online sports betting became successful in Asian countries.
Legalization of Gambling
Online sports betting became successful in Asian countries because more and more countries in the region paved the way for its legalization. While there are certain restrictions, online sports betting are slowly being legalized, such as in Taiwan wherein online casino games may be deemed as illegal but online sports betting is allowed.
In Japan, gambling is still controlled but there are already some forms of sports betting that are legal in the country. The standardizations in place paved the way for more people in these Asian countries to venture out into online sports betting.
Prominent Gambling Areas
It is noteworthy that online sports betting and overall online gaming became successful because of the prominent gambling areas in Asian countries. The revenue garnered from these gaming areas such as the land-based casino in Macau, the Hong Kong Jockey Club, as well as the casinos in Singapore, to name a few, was considerably too significant to ignore.
This paved the way for these land-based casinos to host online counterparts to be able to cater to a wider range of players, offering games such as poker, blackjack, and slot online.
In East Asia, the Philippines is deemed to be the best hub where online operators can set up shop because it is where the online gaming business can operate legally as long as they are duly certified by the proper licensing agencies in the country.
It can therefore be deemed that online sports betting became successful in various countries in the Asian region, particularly in the Philippines, India, and Singapore, where the gambling industry is stable and duly regulated. This is because the governments of these countries recognize the fact that there are several advantages to legalizing and regulating the gambling industry, including online gaming that offers sports betting and casino games.
Overall, the Asian market is forecasted to have a steady increase in revenue from the gambling industry because of the continuous patronage of players in the online gaming market. This will even be more apparent as more and more countries open up to legalize online gaming in their territories.
Online sports betting has become more and more popular, not only in Asian countries but in other countries around the globe as well. This is because apart from the convenience that online gaming offers to its patrons, it is also relatively easier to place wagers online than to physically frequent bookmakers to be able to place bets.
Thus, it can be deemed that the online gaming industry truly flourished in the Asian countries, and it continues to do so, particularly in the online sports betting market.