How Big is the Online Sports Betting Community in Asian Countries?
The rise of global sports betting industry has been nothing short of phenomenal.
21:39 23 November 2019
The boom in sports betting has shown no signs of relenting, and if the recent success of online sports betting is anything to go by, things are looking rosy for both sportsbooks and bettors alike, at least in Asia.
Online sports betting has changed dramatically in Asian countries, especially in the past two decades. What’s surprising is that there has been a proliferation in the number of online betting platforms and mobile sites, despite pushback from government agencies. In spite of facing a stiff challenge from the regulatory and enforcement authorities trying to clamp down on illegal betting, gambling operators still find a way to run the show by using the latest technology to set up robust betting platforms online and secure payment infrastructure.
But why is there a sudden uptick in betting in this part of the world?
Experts argue that increasing wealth and rapid development in digital connectivity has contributed to the definitive growth of online sports betting community in Asian countries. Rising income levels means more disposable income to spend on things like online betting. And availability of a wide range of smartphones coupled with improved internet penetration means more and more people even in the remote areas are now finding it easier to connect to the internet to access online casinos, sportsbook, even finding a 4d result for an online lottery with all these sites offering news and updates on many things related to online betting, etc. The huge population of this region is another significant factor contributing to the express pace in which online betting in Asia has grown.
Reportedly, the APAC region is the biggest of all markets in the world, accounting for over 47% of the global share in online gambling and betting. Countries like the Philippines, Cambodia, and Vietnam, where the local communist government opened its gates to sports betting although limited only to sports such as football, greyhound racing etc, are some of the new hotspots of betting action in Asia. Despite the clampdown and restrictive rules for betting in other countries, the online betting community is getting a constant influx of enthusiasts from all corners of the continent. People from sports-crazy countries like India, China, Malaysia, and the Philippines, who love following sports, are more excited to learn that they can as well make money out of it, placing their wager on games.
The anonymity the internet offers has sent Asian bettors flocking to online sites, and the number of bettors in some countries in Asia is seeing tremendous growth despite the lack of legal betting options and stubborn resistance from the enforcing authorities. Websites registered and operated under the radar and abroad in countries like Costa Rica, where there is no law banning online casinos that offer gambling services abroad or local authority to regulate the industry, are giving a significant momentum boost to this shift to online gambling here.
To put things in perspective, online gambling in Asia is expected to soar up to $24 billion in sales, according to a market research report by Technavio. Now that’s massive. Emergence of new sites is turning out to be huge for the online sports betting community in Asia. More new sites are emerging in order to seize the opportunity to meet the rising demand of sports bettors. Site operators seem to waste no time learning to spot the opportunities presented in different markets, and provide well-packaged gambling options that encourage more people to get on board. They understand what is popular in China or Malaysia might be different to the most popular sport in say the Philippines or Korea.
For example, cricket has a huge following in India, Pakistan and Bangladesh whereas boxing and football rule the roost in the Philippines. Betting operators have fully come to understand this, and are now busy putting together betting sites that allow one to place a wager on a number of popular leagues from different sports happening around the world. In addition to providing opportunities to enter tournaments across different sports, betting sites catering to Asian players also give attractive deposit bonuses and offers and run promotional campaigns that keep new bettors coming back for more.
Summing up, the online sports betting community is already big and continues to grow into a much bigger entity at a fair clip. Whilst it is likely to thrive on the back of growing internet connectivity, more new gambling platforms offering easy betting solutions are also likely to emerge in order to meet the rising demand. And that kind of seals the future of sports betting in the Asian continent.