The Asian iGaming industry is rapidly growing and boasts huge value and innovation. Over the last 10 years, the sector has enjoyed a rise in popularity, mainly driven by its ever-growing audience. This has made the Asian iGaming landscape one of the most profitable in the entire world.
The Asian iGaming sector has a large variety of games such as poker, sports betting, online casinos, and lotteries. Its massive growth could be down to factors such as the rise in online payments, more players using mobile devices for convenience, and the general surge in popularity of gaming online.
Not surprisingly, China has the largest iGaming scene in Asia, and it’s likely to stay that way for some years. However, countries such as the Philippines, Japan, and South Korea shouldn’t be underestimated – these smaller countries are rapidly becoming serious markets in the industry. Other countries to watch out for include Thailand, Vietnam, and Malaysia.
The Malaysian gaming sector in particular is becoming popular. Although it isn’t illegal, gambling in the country is forbidden under Islamic law. But, not only is Malaysia a peaceful country, it’s also multicultural, with 22% of the population being Chinese and 7% being Indian. This means that one-third of the country’s population can still freely gamble (source: www.basketballinsidersmalaysia1.com/online-casinos/).
The iGaming industry in Asia is huge! For example, Japan, the second-biggest iGaming market on the continent, is worth more than $20 billion. Another profitable Asian country is India which, in 2023, boasts a value of over $3 billion. The industry is predicted to experience a 14.8% annual growth rate by 2026; these impressive growth statistics show that Asia is where you need to be if you enjoy iGaming.
Social gaming, which is playing games integrated with social media platforms such as Twitter and Facebook, has become hugely popular amongst iGaming fans in Asia. It’s predicted to experience a CAGR (compound annual growth rate) of 16.2% from 2020 to 2025. The trend of social gaming is thanks to factors such as the rise in the use of social media platforms and the convenience of games on mobile devices. In fact, in 2021, the smartphone usage rate in Asia was a staggering 74% and by 2025 it’s predicted to rise to 84%.
The most popular gambling games tend to vary by country. For example, in Vietnam and China, you’ll find that sports betting is the number one most popular gambling activity, whereas in the Philippines, most people opt for online casinos. Mobile gaming is the preferred choice in Japan and South Korea but for gamers in India, poker and online lotteries take the top spot.
To get involved in the Asian iGaming industry, platforms need to have the appropriate licenses. One of these licenses comes from Curaçao, one of the longest-running and most respected digital gaming license providers in the world. iGaming licenses from Curaçao offer protection for players and are recognized by world-leading industry operators.
Another license provider is the Kahnawake Gaming Commission. Authorized to provide licenses worldwide, the Kahnawake Gaming Commission is there to make sure gaming operations are clear and ethical. They’re also considered to be one of the most esteemed license providers in the entire industry and are recognized by most operators.
Lastly, the Gambling Supervision Committee of the Isle of Man issues an in-depth regulatory framework for digital gaming, offering both players and operators comprehensive protection. The Commission has a responsibility to regulate any digital gambling activity that happens on the Isle of Man, and it’s recognized as one of the most respected license providers in the world, with many licence holders providing their services to Asian markets.