Players worldwide regularly visit online gaming platforms to enjoy their favorite casino games. However, the Asian online casino scene has been expanding at a slower pace compared to other markets. But this is forecasted to change soon.
During the coronavirus pandemic, casino websites saw an increase in users. Internet gambling, mobile betting, and sports betting became more popular during lockdowns.
Around 40 million people across Asia went online for the first time in 2020. After considering these figures, the Asian online casino scene is estimated to attain a market valuation of more than $35 billion by 2026.
The following are some of the factors fuelling the growth of online casinos in Asia:
Adoption of Blockchain Technology
Various top online casinos across Asia have begun accepting cryptocurrency as a payment method. Stakeholders in online gambling have realized the benefits of blockchain technology, like enhanced security and anonymity. As technology evolves quickly, it will be interesting to see what crypto portends to the global online gaming industry.
This technology eliminates the requirement for intermediary services such as verification and authentication. Besides making online casinos easily accessible for everyone, crypto improves the level of trust and transparency within the industry.
The revolution occasioned by blockchain technology has been welcomed by key players in the online gambling industry. Today, you will find the best online casinos for players in Asia accepting payments via cryptocurrencies such as Bitcoin, Dogecoin, Ethereum, and Litecoin.
Digital currencies operate under a decentralized ledger that ensures there is no third-party interference. They are beyond the control of authorities and banks. You will not face legal repercussions if you choose digital currency as a payment mode.
The convenience of Mobile Casino Gaming
The growth of online casinos in Asia is also attributed to the convenience occasioned by mobile devices. The COVID-19 pandemic catalyzed this growth in the popularity of gaming on mobile devices.
Measures enforced by Asian authorities to curb the spread of the virus, such as social distancing and lockdowns, meant that traditional land-based gambling establishments had to shut down their operations.
This meant that players had to find alternative ways to enjoy casino games. Most gambling platforms in Asia recorded significant increases in the number of visitors to their websites and other online resources.
Apart from cryptocurrency, most internet-based gaming sites in Asia accept transactions via major debit or credit cards, electronic wallets like PayPal and Neteller, and electronic funds transfers (EFTs). With online gaming becoming more prevalent in Asia, the presence of these payment modes can only lead to further growth.
Online casino players, especially the younger generation, find mobile gaming more convenient and functional. Also, online casinos offer more flexible and portable games than traditional land-based gambling establishments. Additionally, you can play games with your family or friends without worrying about location constraints.
Availability of Stable Internet Connectivity
Today, there is a reliable internet connection in almost all parts of Asia, both rural and urban. Many internet service providers (ISPs) in Asia’s communication sector also make internet services accessible to most people.
Therefore, you can enjoy live casino games with stable internet connectivity regardless of your location. All you require is an internet-enabled mobile device such as a smartphone, laptop, or smartwatch.
Besides looking for ways to improve the social gaming experience, we are also exploring ways to offer gambling services based on location.
Enhanced Marketing Strategies
Proper marketing strategies are crucial to the expansion of any industry. Like other markets worldwide, the Asian online gaming sector is rife with competition. Numerous online casino operators are fighting for the lucrative Asian market. Therefore, they need to employ creative marketing methods to stay ahead of the curve.
Online gaming platforms are doing everything possible to attract new players. Celebrity endorsements are among the most common marketing tools used by Asian online casinos. This is because celebrities have a considerable following which can improve the profile of any online gaming platform.
In recent times, Asian online casinos have signed endorsement contracts with celebrities such as star athletes and A-list movie stars. For instance, Son Heung-Min, who plays for London’s Tottenham Hotspurs, has promoted sports betting in Europe.
Which Are the Fastest-Growing Markets in Asia?
The following are among the fastest-growing online gaming markets in Asia:
Gambling is generally illegal in China, except for the state-run lottery. Betting activities are restricted to the gambling zones of Macau and Hong Kong. You can try out four types of gambling in Hong Kong; betting on races, lottery, sports betting, and mahjong.
The Hong Kong Jockey Club, which has a monopoly over sports betting, rakes in some of the largest profits in the world. Most Chinese casino players can access foreign-run online betting platforms through virtual private network (VPN) services.
Although it is heavily regulated, Japan’s gambling market is estimated to be worth more than $16 billion. This valuation is lower than Macau’s in China. However, it is larger than Las Vegas, meaning it is the world’s second-largest gambling industry.
Japanese authorities have recently approved the gazettement and regulation of the first casino resorts in the country. The government hopes to enhance foreign investment and revenues from gambling. However, there is still room for growth in Japan’s gambling sector, especially online gaming.
In India, you can only gamble in three locations. They are Daman, Sikkim, and Goa. However, you can acquire a permit to set up a skill-based gambling business in Nagaland. A loophole in regulation means that skill games are legal. Today, a debate is raging about whether poker falls under this category.
Because India’s online gaming sector is heavily regulated, only a few operators control the market. Casinos are only permitted to operate as subsidiaries of 5-star hotels. This means there is a huge demand for gambling services due to India’s large population.
Major online casino platforms are looking for ways to exploit this demand. On the other hand, Indian players are using creative methods to access foreign-based online gaming platforms. For instance, betting on IPL has become more prevalent in India.Please Share it to everyone: