The Rise Of Online Gambling Market In The Asia-Pacific Region

After Europe, Asia-Pacific is the second-largest Internet gambling market. The report of Research and Market states that the market will further increase by 7.31% in 2021.

With the help of the Internet, people can instantly access information concerning entertainment, money-making, and many more. Not only did it gives voice to several new industries, but it also brought online gambling in front of the people.

Earlier, people barely have faith in this industry. However, with the growth of the internet, people saw a massive change in the online gambling business significantly. And now, we can see its charm in the Asia-Pacific region, especially Australia and wildz casino nz, as they do not have any specific laws pertaining to online gambling.

Online Gambling In Asia-Pacific Region

As we discussed earlier, Asia is currently the largest gambling market in the world. It is because it attributes to cheaper rates and higher population in comparison to European countries. However, it is only valid for brick-and-mortar casinos. Technological advancements and transparent rules and regulation is significant aspect of the success of this market.

It has also been projected that the online game at a CAGR of 11% between the year 2018 to 2022. It, ultimately, results in the growth of the market by $35 billion. Among them, 44% of growth comes from the APAC region. Let’s discuss their growth in different regions of APAC in detail.

China

China has numerous popular forms of betting available. But still, some of them like poker, mah-jongg, and sports betting are illegal. That is why players turn their focus on internationally reputed and licensed online casinos to bet on their favourite games.

Australia

More than 80% of Australians are involved in both online and land-based gambling. Australian Government signed the Interactive Gambling Act (IGA) to protect people from the adverse impact of web gambling in 2001. This act also prevents online operators from offering unlicensed products to players from other countries with Australian iGaming products. The games that are authorized by the government are considered legal.

New Zealand

In New Zealand, more than 3.6 million people are involved in online gambling. The Gambling Act signed by the government of New Zealand in 2003 states that the business is legal within the territory and only when authorized by them. Also, it is not prohibited to play online games with a server hosted outside the region.

Japan

Japan’s government controls and restricts all forms of gambling activities. They only have legal activities, including scratch cards, lottery, betting on soccer, powerboat racing, bicycle and motorcycle racing, and horse racing. However, the citizens access foreign gambling sites to play their favourite games.

Indonesia

Indonesia is governed under Islamic laws, which is why all forms of gambling are prohibited in this region. However, the free licensed lottery is the only gambling activity performed in this region. Citizens look for licensed foreign websites to play table games and sports betting.

This data show how rapidly this industry is growing in this region and have a brighter future.

 

People Also Read: Why Is Online Gambling Illegal in Thailand?