An increase of Asian internet gamblers is a crucial factor in the region's economic development. 40 million Singaporeans, Malaysians, Vietnamese, Indonesians, Filipinos, and Thais went online for the first time in 2020, and they are here to stay. This raises the overall number of internet users in the area to more than 400 million and rising.
As in other areas, the COVID-19 pandemic had a significant influence on the sector in the region. This occurred as a result of limits placed on socialising, leisure activities, and access to land-based casinos. This increased the need for online entertainment, and iGaming boomed. Millions have flocked to internet casinos and gambling sites for entertainment and socialisation. This unique circumstance, coupled with easy access to mobile devices and the internet, has produced a perfect storm. This circumstance, which lasted almost two years, altered the face of iGaming and accelerated expansion at a rate that would have normally taken several years.
In terms of device preferences, the Asian market favours conventional desktop PCs. However, the tide is turning. As smartphones become more inexpensive and hence more accessible, their use as gambling devices increases in popularity. As more players adopt mobile devices, operators are incentivized to create more mobile choices, such as apps and progressive applications. In the next five years, the growing popularity of smartphones and the expansion of gambling applications will likely result in a substantial rise in income.
Poker, both video poker and live dealer poker, continues to be the most popular game and betting option in the whole area. It owns the majority of the market share and this trend is anticipated to continue, fueled by a large fan base in India and China, the two most populous nations in the world with populations of one billion or more. Similarly to other places, sports betting remains popular, particularly on soccer, horse racing, and American athletic events such as the NFL and NBL. The market share of video slots and eSports, which is particularly popular in China, is also substantial.
What is fueling Asia's growth?
A mix of digitally mobile consumers, the COVID-19 epidemic and its aftermath, and increased access to cellphones and the internet are driving expansion. This, paired with a new generation seeking digital and on-demand entertainment, has expanded the industry tremendously.
How does India influence the market?
India is the second most populous country in the world, with over a billion people. A growing middle class, inexpensive internet, availability to smart gadgets, and the implementation of 5g networks all contribute to the growth of iGaming in the country. India is poised to become one of the world's leading online gaming markets.
What are the most popular forms of gambling in the region?
Overall, poker reigns supreme, but sports betting, eSports, and slots are making major gains. As consumers continue to seek online socialisation and enjoyment, the demand for live dealer games is expected to rise in the United States. Lastly, the Asian market is very interested in the expanded use of technology to offers. In the future, cryptocurrency gaming, virtual reality and augmented reality, and the application of artificial intelligence will be development drivers in the region.
By fLEXI tEAM