Overview of Online Casino Industry in Asian Markets in 2022
The Asian gambling market has accelerated since Covid 19 first opened residents’ eyes to online gambling. However, two years later, Asians are still limited in their online gambling pursuit for fun and profit due to the government’s heavy sanctions on online gambling.
Many offshore online casinos have noticed this untapped opportunity and are flocking in to fill the void. We have curated a list of offshore casinos for Singaporeans on our Online CasinoHEX Singapore website to help players make the right choice.
In this post, we want to discuss the current state of the Asian gambling market, emphasizing the online casinos in Singapore, Malaysia, the Philippines, Japan and Thailand. We hope it brings players and operators up to speed with the current gambling laws in those less talked about Asian regions. Let’s dive in.
Singapore is among the top gambling spots in the Asian continent. The Singapore government has long opened two physical betting shops where residents can engage in horse betting, sports betting and lottery.
In 2005, the Singaporean government also introduced Integrated Resort (IR), where residents and foreigners can play different casino games.
According to the bill, only two IR casinos are permitted to open, and the slots have since been taken by the Marina Bay Sands and Resort World Sentosa. The authorization of legal casino spots proved to be a good experiment as the two resorts single-handedly increased the state budget by 14.5% in their first year of operation.
Despite the success of land-based casinos, the federal government is yet to legalize any online casino in Singapore. However, residents flock to various offshore online casinos in Singapore to gamble and have fun. Singaporean casino sites host various i-games. However, most Singaporeans tend to be drawn toward card games such as Baccarat and online slots.
The government does not currently discuss online casino legalization. Still, as a country that is always open to innovation, the authorization of online casinos in Singapore might be on the horizon.
The Malaysian population are predominantly Muslim, and sharia laws are well recognized in the country. According to sharia law, all forms of gambling (land-based and online) are prohibited.
However, the Betting Acts permits non-Muslims, foreigners and tourists to engage in lottery betting, horse racing and casino games in landed properties without sanction. The betting act also prohibits every form of online gambling in the country, with strict punishment for defaulters.
Despite the law, Malaysians still gamble online, with football and badminton forming a big part of Malaysian betting options.
Philippine gambling laws are flexible and friendly. The state has at least four gambling resorts in Manila and permits online sports bettings, horse racing and lottery.
The country’s licensing and gambling activities are regulated by the duo of PAGCOR (Philippines Amusement and Gaming Corporation) and CEZA (Cagayan Economic Zone). PAGCOR is responsible for regulating local betting and bingo shops, while CEZA grants gambling licenses to offshore casinos in other regions.
As a testament to the flexibility of Philippines gambling laws, the Philippine government has opened its doors to regulated offshore casinos and even permits Filipinos to gamble online. All of these combined makes it surprising that the government does not legalize online casinos.
Even without online casinos, the Philippine casino industry has grown from strength to strength. According to Inside Asian gambling (iAG), 557m was generated by licensed casinos in the Philippines in Q1 of 2022, and the industry doesn’t look like it will slow down.
The success of offshore casinos in the Philippines is an indication that the government may revisit the legalization of online casinos soon
Thailand has everything it takes to be a major powerhouse in the Asian online casino and gambling market. Still, political and cultural beliefs have long stalled the growth of the country’s gambling sector.
Currently, Thailand has no legal casinos, and online casinos are illegal. But that has not stopped the residents from engaging in active casino gambling online and offline. A survey by the centre of gambling studies shows that nearly half of the Thais population gamble and that $5 billion was spent on sports betting alone in 2019.
Where there are no legal casinos, the black market and underground gambling always flourish, and Thailand’s 200 illegal betting shops are no different. The number of offshore casinos for Thais has also continued to increase.
As the government awakens to this reality, it has begun to take gradual steps to legalize casino gambling in the region, starting with establishing 2 to 3 Integrated Resorts. When casino resorts are commissioned, the government believes they will boost the state’s tourist revenue, which has dwindled since the Covid 19 lockdown. Similarly, landed casino resorts will create a regulated and safe gambling environment for Thai residents. Legalizing online casinos in Thailand is not on the horizon right now.
Online casinos are prohibited in Japan. Therefore, Japanese gamblers can choose among Pachinko, horse betting, motorcycle racing, and online lottery.
However, the Japanese government has since reconsidered its position on casino gambling. In 2018, following in the footsteps of Singapore, the Japanese government authorized the commissioning of Integrated Resort which will allow tourists to play casinos and sports betting in regulated spots.
The COVID-19 pandemic has slowed the progress of the landed casinos; however, the government has resumed the acceptance of proposals from interested organizations. While establishments of landed casinos don’t suggest the legalization of online casino gambling, it may be another win for the Asian gambling industry, seeing that Japan is a major trendsetter on the Asian continent.
Even though landed and online casinos are not allowed in Japan yet, the country’s betting market is estimated to reach $9b in 2022.
As you would expect, many offshore casinos where residents gamble online and play their choicest games, including slots. In place of Baccarat, the Japanese have Dragon Tiger, which enables players to wager on whether the Dragon or Tiger hand would win.
As a technology-savvy nation, it is also no surprise that the players are inclined towards live dealer games and titles enriched with crisp graphics.
Pending the time the Asian gambling market becomes stable and regulated, operators preparing to enter the market must know that there will be periods of low revenues just as much as high turnover. However, they should find consolation in that Asia is poised to be the next frontier of online gambling when the government relaxes its laws.
So far, many Asian countries are decriminalizing casino gaming, a green light for online casinos and sports betting legalization. Current trends suggest that online slots, card games, table games and live dealers will likely dominate the Asian gambling scene. Until then, residents have to make do with betting on landed casinos, travelling to countries that permit online gambling or playing online casino games on offshore casinos.
Meet BetConstruct at G2E Asia in Singapore
BetConstruct is set to turn some heads with its cutting-edge products and solutions at the upcoming G2E Asia being held May 30 – June 1, in Singapore.
G2E Asia is one of the premier events in the iGaming market for major stakeholders and players to explore the latest trends, innovations, and business opportunities in the Asian gaming sector. The event will centre around networking, knowledge sharing, and collaboration opportunities for key executives in the industry.
BetConstruct will use this medium to unveil its latest advancements in gaming technology and bring its extensive portfolio of cutting-edge products and solutions, aimed at revolutionising the gaming experience.
The main highlights of the event include the groundbreaking Fastex ecosystem with innovative ftNFT terminals and Esports-focused Sportsbook solutions. The ftNFT terminal is a state-of-the-art solution allowing visitors to buy and sell NFTs right from the spot. Additionally, with the Esports industry experiencing immense growth, BetConstruct’s sports betting solution provides operators dynamic and engaging Esports betting experience with its live streaming capabilities, real-time odds and extensive market coverage.
Visitors can also explore BetConstruct’s land-based offerings at its dedicated corner, as well as learn more about FeedConstruct products and how to implement them in their business.
BetConstruct will showcase its vast catalogue of offerings at stand B1307 in Marina Bay Sands from May 30 to June 1. All visitors are welcome to join one of the biggest iGaming events in the area and engage in the pool of possibilities.
MOGO Executes Definitive Agreement with Nils Lahr and OrionsWave to Acquire Social Challenge Engine and Platform Technology
Mobile Global Esports Incorporated (MOGO) (NASDAQ:MGAM), the mobile eSports and social platform company driving collegiate eSports tournaments, team development and data services in India, today announced that the company has executed the definitive agreement to acquire, implement and relaunch the social challenge technology developed by Nils Lahr and OrionsWave LLC.
“I’m thrilled about the prospect of bringing specific social stories to life,” the founder and Chief Executive Officer for OrionsWave LLC, Nils Lahr, said. “Unlike the ad-hoc nature of Instagram or the instant gratification of TikTok, our original app, which was number-one on the app store before these platforms emerged, catered to a unique category that is still unaddressed in the market. Our aim is to add more value to social connections and infuse more fun into viral calls to action. With the advancements in technology and user experience, we’re poised to bring a fresh and exciting perspective to the market.”
“Moving forward with OrionsWave’s social challenge technology provides the robust technological backbone required for building out the capabilities, value and offering of our MOGO social platform,” the Chief Executive Officer for Mobile Global Esports Incorporated, Dave Pross, said. “We’re looking forward to working closely with Nils and his team to drive gamer engagement through offering users the ability to create challenges with which to motivate player and team unity and competitiveness.”
Lahr, an esteemed American entrepreneur and computer scientist, has made significant strides in the digital media and artificial intelligence (AI) industries. As the founder and Chief Executive Officer for OrionsWave, LLC, he has guided early-stage companies to success including Orions Systems Incorporated and Synergy Sports. His tenure as Reality Chief Technology Officer at Microsoft showcased his expertise in AI scalability. Holding over eight key patents in machine learning and AI, his innovative approach led to Microsoft’s acquisition of Orions Systems Incorporated in 2020.
Lahr also co-founded Synergy Sports Technology LLC, a global leader in sports analytics, which recently had its IPO. His Emmy-award-winning work in streaming media has significantly influenced the digital transition of major corporations. Terms of the agreement were not disclosed.
Trinity Gaming India Signs Deal with Everdome to Build Web3 Adoption in India
Trinity Gaming India and EmChain to earmark land on virtual Mars to content creators, eSports organizations, brands and companies
Trinity Gaming India, a gaming content and marketing company with access to over 40 million gamers, has partnered with Everdome, a leading hyper-realistic metaverse giant, to build the first virtual Mars community.
The company aims to develop and accelerate the Indian gaming community to transition from Web2 to Web3. With this partnership, Trinity Gaming will activate the Indian gaming community towards the metaverse phase.
Trinity Gaming India will gain access to real estate on the virtual Mars and allocate space to content creators, eSports organizations, brands and companies. This will enable trade of the virtual assets and create more freedom in the play-to-earn (P2E), Web3, Crypto and NFT gaming sectors to boost their immersive experiences.
Trinity Gaming India has collaborated with blockchain-based firm EmChain FZE towards this partnership. As part of the deal, Trinity Gaming India and EmChain will train, mentor and provide revenue streams for approximately 40 million captive gamers and creators in the web3 and blockchain sector.
Emchain will ensure the development and mentorship of the content creators to help them pick pace with the technical framework of the global gaming community. The content creators will be able to engage with their audience on a deeper level, attach and grow their brand within a premium quality metaverse setting, leverage the upcoming marketplace as a location for any in-world transaction or simply create a virtual home.
Launched at the beginning of 2022, Everdome has swiftly built a community of over 500,000 supporters and circa 90,000+ unique wallets holding $DOME, the utility token, along with a series of digital land auctions with 98% sell-out and ten significant partnerships that concluded with an excellent trust score of 90/100.
“The Indian gaming community in the Web3 environment is expanding in leaps and bounds,” the founder and Chief Operating Officer for Trinity Gaming India, Shivam Rao (pictured), said. “This development will provide Indian gaming content creators with a first-of-its-kind opportunity. Under the aegis of Emchain and Everdome’s expertise, we at Trinity Gaming India strive to equip Indian game developers with globally-recognized technical know-how to create a truly immersive gaming experience.”
“Everdome is all about making extraordinary metaverse experiences more widely accessible,” the Chief Growth Officer for Everdome, Artur Kaczmarczyk, said. “Our partnership with Emchain and its network of content creators helps us in our mission to reach new audiences with our metaverse experience, not just in terms of a South Asian and Indian audience, but also a brand-new direct engagement with a thriving gaming community. I am delighted to join forces with Emchain as Everdome takes another step towards our goal of building a thriving, truly worldwide community of metaverse explorers.”
“Metaverse and the gaming industry are a perfect match,” the Chief Executive Officer for Emchain, Towqeer Gilkar, said. “The metaverse provides a new level of interactivity, community building and earning potential for gamers. At one go, it offers the game developers a new platform to create and release more immersive and exciting games. The future of gaming is in the metaverse and the possibilities are endless.”
In this hyper-realistic metaverse, the content creators can use their land to build virtual boot camps. These can be a replica of their existing boot camp or something with their imagination that is impossible in real life. They can have streaming rooms, play areas, lounges, display areas, an art gallery, a common area, a theatre/screening room, production studios and so on inside the boot camp. They will invite their fans/other gaming creators and create content.
Monetization will be done through:
* Ticketing to enter the metaverse
* Buying creators NFT
* Brand collaborations in virtual space
* Playing games with fans
* Watching movies in virtual space
* Content shoots in the metaverse
* Playing eSports
* Content IPs
* Fan meet-ups
Trinity Gaming India is confident about the initiative that will shoot development and acceleration to help the Indian gaming community to transition from Web2 to Web3. It will help Trinity Gaming India to activate the Indian gaming community towards the metaverse phase.
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