The size of online gambling in Asia has been consistently growing over the past few years. Over the past five years, the industry has had major boosts in growth.
Over that time, the net worth of the industry has notably grown to over $15 billion. This figure is expected to keep increasing by an average of 18% by 2026.
These figures make the Asian online Casino industry rank among the best in the world. There are quite a few reasons why the industry is as big as it is.
The Coronavirus pandemic
Online Casino sites and companies started realizing the growth of their industry while in lockdown. Most people joined top online casinos and other gambling sites during this time. This was through the help of casino guides.
Considering how populated the Asian continent is, the number of people that joined online gambling TopAsia sites was huge. There was an instant impact which keeps on showing till now. The strict measures put in place could not allow people to interact. These measures were even stricter in Asia. People, therefore, improvised on how to interact and have fun.
Gaming-related websites were overcrowded but this was to the benefit of everyone. Even now that the measures are a bit loosened, people still prefer online Casinos. The convenience offered by online Casinos cannot be matched by other forms of gambling.
Competition within the industry
The Asian online gambling market is one of the most competitive markets in the world. This does not only promote individual companies but the whole market too. The size of the Asian online Casino market keeps expanding with more countries and companies competing. The biggest markets in Asia are India, China, and Japan.
However, separating the three is almost impossible, because they offer something different. In one, the population is their biggest advantage as they have the most customers. In another, technology is their biggest strength. Developing new games to keep the clients satisfied, despite the size of the market.
These variables show just how big the online Casino market in Asia is. Other than the three most obvious big players in that industry, others make an impact. These are markets in Singapore, Thailand, and Malaysia. They may be small in terms of population, but their consistency and income speak volumes.
Other than countries competing, some companies are global. These companies run in all these countries and compete with companies of their stature. It could be online casinos or sports betting companies. A good example is Bet365 Sportsbook Play and 1xBET Sportsbook Play.
They are both betting companies that run in most countries in Asia. They represent the growth and size of the online gambling market as a whole in Asia.
Technology advancement
If there was one place you would back to have the best technology, it would be Asia. The whole continent is perfectly set up to create and innovate technology to the best of its ability. When this technology is put into play in industries like online Casinos, the outcome is perfect.
It gives the whole continent an edge over the rest of the world. Whether it is the quality of games developed, or devices used to play the games. It could even be the most basic piece of technology, like smartphones. They are basic but the most crucial part of an online Casino.
Most people can afford smartphones, which can always give access to online Casinos. Other than smartphones, access to an internet connection is very important. Tech companies have made an effort to ensure almost everyone can access the internet. This has boosted the online gambling market in Asia a lot.
Apart from the basic use of technology, companies use advanced technology to compete against each other. The competition is healthy and keeps growing the size of the online casino industry.
Technology like artificial intelligence, virtual reality, and Bluetooth are the fine margins that they operate on. The rest of the world even takes inspiration from the Asian online Casino market on such things.
Newer market spaces
The growth of the online gambling market would have been stunted if the market remained stagnant. However, thankfully, this is not the case in Asia, where things are a bit different. More countries are getting involved in the online gambling industry. These are countries that in the past may be faced too many challenges.
Whether it was strict government policies on online gambling or lack of enough technology. Countries like Vietnam, Cambodia, and South Korea among others, are now actively engaging more in online Casinos. This is helping expand the size of the online gambling market in Asia.
Overview
Dynamically, having the biggest online Casino industry is tough for Asia. Given the strong leadership in some countries and religious views in others. These factors constitute the two biggest challenges faced by the online gambling industry in Asia.
However, given how big the industry has become of late, the reception in such areas is getting better. People are at least giving the industry a chance to prove itself. On the other hand, in the countries where the industry thrives, things are getting better.
For instance, online gambling was prohibited in Japan for a while. However, things seem to be opening up in the country. In a few years, if the size of the online gambling industry keeps growing, it will be fully allowed. This will elevate the industry even further because Japan could play a big part in online gambling.
If in the future, even half of the Asian population is fully on board with online Casinos, that would be mind-blowing. The Asian online gambling market will be bigger than the rest of the world’s market put together. This shows that there is still room for improvement even in such an advanced market.
Conclusion
As predicted a few years back, online casinos are at the frontline of online Casinos in Asia. Also, more countries are adapting to the new way of recreation which is online gambling. More governments are beginning to favor online gambling and this can only elevate online gambling in Asia.
