Overview of Online Casino Industry in Asian Markets in 2022
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The Asian gambling market has grown since Covid 19 opened residents’ eyes to online gambling two years ago. Many offshore online casinos are flocking in to fill the void. Online CasinoHEX Singapore has curated a list of offshore casinos for Singaporeans on its website.
Singapore is among the top gambling spots in the Asian continent. The government has long opened two physical betting shops and Integrated Resort. In 2005, the government introduced Integrated resort, where residents and foreigners can play different casino games. Marina Bay Sands and Resort World Sentosa were allowed to open. They increased the state budget by 14.5% in their first year of operation. Online casinos are not allowed in Singapore.
According to sharia law, all forms of gambling are prohibited in Malaysia. However, non-Muslims, foreigners and tourists can 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.
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. 557m was generated by licensed casinos in the Philippines in Q1 of 2022. The success of offshore casinos suggests that the government may revisit the legalization of online casinos soon.
Thailand has no legal casinos and online casinos are illegal. However, nearly half of Thais gamble and $5 billion was spent on sports betting alone in 2019. The government is taking steps to legalize casino gambling in the region. The aim is to establish 2 to 3 Integrated Resorts.
Online casinos are prohibited in Japan. The government has since reconsidered its position on casino gambling. In 2018, the Japanese government authorized the commissioning of Integrated Resort. The country's betting market is estimated to reach $9 billion in 2022. Online casinos where residents gamble online and play their choicest games, including slots, are popular in the country.
The Asian gambling market is not stable and regulated. Many Asian countries are decriminalizing casino gaming and giving green light for online casinos and sports betting legalization. Until then, residents have to make do with betting on landed casinos or travelling to countries that permit online gambling.
