Can the Asian iGaming Market Catch Up with the European Industry?

The iGaming market in Europe is massive and many continents are behind Europe when it comes to online gambling.

Asia is a good example and there are strict laws in many Asian countries which makes the launch of iGaming difficult.

There has been a shift towards more legalization of iGaming in Asia, but can the Asian iGaming market catch up with the European Industry?

European iGaming Market

iGaming has long been legal in many European countries. European gambling revenue is predicted to be more than $99 billion in 2022 and with most European countries legalizing some form of iGaming,

it comes as no surprise to see revenues so high. If we take Malta as an example, many of the European iGaming operators are based in Malta and in 2018, the iGaming industry accounted for 12% of the economy.

Scandinavian countries have a big percentage of the population participating in iGaming and 59% of Sweden’s total gambling revenue comes from iGaming.

You must go back to 2012 to find the launch of the iGaming market in Denmark, so it has had plenty of time to grow and that is the same for many European countries.

The iGaming market has been active in the United Kingdom for close to 30 years, so it comes as little surprise to learn how much revenue is being generated across the European continent.

Asian iGaming Market

In contrast to the European iGaming industry, the Asian iGaming market is young.

The Asia Pacific region has seen plenty of growth in recent years as more countries choose to liberalise their online gambling laws.

The economic conditions for many people in Asian countries, such as China and India have improved, and more people now own a smartphone and have access to the internet.

This means more people have access to online casinos and other iGaming products. In 2019, the Indian iGaming market was valued at around $750 million and that could more than quadruple in the next decade.

Interestingly, over 50% of Esports revenue comes from Asia and over 75% of those betting on Esports in Asia is between 18 and 25 which means there is plenty of opportunity for growth.

With these figures in mind, it is little wonder some of the major European iGaming brands are looking to expand into India and other Asian markets.

Casumo is a notable example and they already offer a dedicated online casino and sports betting experience in India.

Can the Asian iGaming Market Catch Up with Europe?

Asia is the largest continent on the planet in terms of land mass and accounts for close to 60% of the world’s population.

Therefore, the potential of the iGaming market in Asia is massive and, on that basis, it should not only be able to catch up with the European industry but surpass the European market.

As more iGaming brands begin to offer their services in Asia, the quality of the iGaming websites and mobile apps will improve. With a young population, this is only going to lead to more people entering the iGaming industry in Asia.

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