The Asian iGaming Market - Size, Investment Opportunity, Laws & More

Weighing up the iGaming market in Asia, considering individual territories’ legal situations, the marketplace size, and no deposit bonuses.

Examining the Asian iGaming Market

The world of iGaming has been on the march for a while now in Europe and North America, but how does Asia stand regarding online betting? Read on to find out.

Size of the Market

Asia is home to more than half the world’s population, so it’s no surprise the Asian iGaming market is very sizeable indeed, worth an estimated $72.2bn in 2019 (revenue). Japan, China, India, and South Korea are among the most avid betting nations, which is in line with the prima facie assumption that wealthy countries with excellent online connectivity are likely to be major players in the iGaming marketplace.

However, other Asian nations are also significant, with the Philippines being worth billions of US dollars every year and growing rapidly,

No Deposit Bonuses in iGaming

One of the reasons for the ongoing growth of online betting is that the fierce competition has driven both software firms and casinos to offer the best possible attraction (as players have a huge array of choices). At betting sites, players can take advantage of international no deposit bonus codes as risk-free options to try your hand and see if you like a particular site or online betting generally if it’s your first time. The chance to win real cash with no risk of loss is an obvious draw and ideal for newcomers to the world of online betting.

Time to Invest?

Recent years have seen some seeming certainties (such as the Chinese real estate market) look altogether more dubious as investments, and the ongoing logistical headache caused by the pandemic has also affected the business world significantly. Every investment has some degree of risk attached but is it worth the potential rewards when it comes to iGaming in Asia?

One major advantage that iGaming enjoys over many other sectors is that it’s one of both trend growth and has proven resilient (for obvious reasons) to recent downturns related to COVID-19. In this way, it’s quite similar to the way esports weathered the 2020 calendar disruption far more robustly than traditional sports. In addition, the fact that iGaming has been growing consistently anyway means that whether the pandemic fades quickly, sticks around for a long time, or fades and is replaced by another (loathsome as that prospect is), iGaming is likely to remain in a strong position as a resilient recreational activity.

The counter-argument is that businesses can and do fail, particularly online casinos operating in a very competitive industry. While some have flourished for years, others (overdoing promotional offers and being unable to afford the customer support or payouts to cater to the player base) sink swiftly. Software developers are fewer in number but maybe a good bet if you’re looking to invest.

The Legal Situation in China and India

Naturally, the legal situation varies dramatically from one country to another. Some retain a total ban on wagering activities, including Nepal, Pakistan, and Indonesia (excepting the lottery). In such cases, some individuals may nevertheless act outside the law at online betting sites.

China’s domestic anti-gambling approach (excepting Macau/Hong Kong) has created a massive number of potential players with disposable income, a tempting target for overseas online casinos (although the authorities take a dim view of this they tend to go after operators rather than players).

The other billionaire country is India, which has differing gambling rules in different parts of the nation. Sports betting (cricket, of course) has risen significantly in recent years. Online sportsbooks and casinos can acquire regulatory approval from Sikkim and Nagaland, which is forbidden in Andhra Pradesh, Maharashtra, and Tamil Nadu. There’s no federal law in place at the moment.

Other Countries’ Legislative Approach

Thais love gambling, even though it also happens to be illegal. Nearby nations have brick-and-mortar casinos to cover this, but even more popular is iGaming. Online gambling is also forbidden in South Korea but, again, this does not stand in the way of this advanced and wealthy country being one of the leading betting nations in the whole of Asia.

Singapore does allow online betting but only at two public operators: the National Heritage Board and the Singapore Sports Council. This, combined with tough punishments for players and operators, do allow for iGaming but with strict consequences for those who step beyond officially permitted bounds.

Formerly, Vietnam had banned gambling but in recent years things have changed. Betting on some sports was allowed, and foreign passport holders could bet at casinos. In addition, betting online is more straightforward than in many other countries in Asia.

There have been some legislative loosening in Asia, and this, coupled with increasing iGaming activity, means there are more online betting opportunities than ever on the continent.

(Devdiscourse's journalists were not involved in the production of this article. The facts and opinions appearing in the article do not reflect the views of Devdiscourse and Devdiscourse does not claim any responsibility for the same.)