The sports betting market is very fast growing in Asia. There are several reasons for the high growth rates in the whole continent’s betting market and in different regions, the focus on sports betting takes on different forms. However, what can’t be denied is the attitude toward sports betting is changing in every Asian country.
Asia – an attractive market for the bookmakers
Asia is an attractive market for bookmakers for many reasons. Firstly, Asia accounts for 60 percent of the world’s population. The continent is home to more than 4.7 billion people of many different cultures. This is attracted to the increasing of different sporting events. According to the latest football news in Thailand, Japan, China,Cambodia, Vietnam, and Thailand itself are some of the most active nations for sports betting. For example, India has seen notable growth in cricket betting, meanwhile, South Korea witnesses the rapid growth of esports betting.
Like in other continents of the world, sports betting is one of the few activities that skirt under a lot of different views around gambling in general. Many countries like Japan have heavy regulations on gambling, but the view was mostly aimed toward casinos games and lotteries. Recently, there is a change in view, and the alternative forms of gambling, including sports betting, will also continue to grow.
The challenge in Asia’s sports betting market
However, Asia’ sports betting market isn’t expanding without challenge. Although the continent’s sports betting is growing fast, much of the growth isn’t monitored or regulated. For instance, in the Philippines, there are few regulations for sportsbook operators. As a result, many offshore companies register their site in the country as a safe destination from the rule and regulations elsewhere. This also gives the betting sites the opportunity to take advantage of less knowledgeable or less experienced bettors. So, there is something to overcome moving forward and there are protections needed to be offered to make sure that the market is as safe as possible.
Furthermore, these sites can still be used even in countries where sports betting is banned, due to the growing widespread usage of VPN software. Using this software has become a popular method for bettors to be able to access any regional or international sports betting sites.
In addition, since gaming is done through different channels and the legislation in the continent is inconsistent, it is hard to approximate the amount of the Asian sports betting market. However, it is believed that the Asian sports marketplace amounts around $250 billion, and online sports betting accounts for about 10 percent of the value.
The Asian sports betting market will continue to be one of the biggest gambling markets in the world. It is interesting to see the fast continued growth, with a lot of change not only in the attitudes toward sports betting but also in the interest in certain titles. Especially, with the growth of non-traditional big titles like those of esports, the sports betting market will have more chance to expand in such a part of the world where pushing modern technology is highly valued.
