Technology has played a major role in increasing the popularity of sports betting in Asia. This article highlights how the internet has helped in the growth of the industry in the continent.
Asia has always been an attractive market for bookmakers and casinos. It is home to 4.6 billion individuals and 48 countries with diverse cultures and ethnicities. The large population and growing interest in different sports add to its appeal for the betting industry. Over the years, there has been a major shift in how betting is perceived in different countries.
The Asian countries currently leading in betting include China, Japan, Thailand, Cambodia, and Vietnam. Football is currently the most popular choice for betting, with a few other sports in tow. For instance, betting on cricket is also gaining popularity in different parts of the continent, particularly India. Indians are avid cricket fans, and the sport’s popularity has made it a popular betting choice for many. Another country with prominently increasing betting numbers is South Korea, which has experienced the increase post the advent of eSports.
Growth of the betting industry
However, it has not been smooth sailing, and the industry continues to face hurdles as some countries have resorted to strict laws and regulations amid growing concerns over illegality issues. When online sports betting became more common, it attracted attention from far and wide. In countries like the Philippines, where betting wasn’t much common earlier, the country did not have any checks and balances. So offshore companies saw this as an opportunity and registered their sites in the Philippines.
Since there was no monitoring, many sites with fraudulent intentions took advantage of the novice bettors and scammed them. In countries like China and Japan, where sports betting was heavily regulated and even banned, online options opened the path for individuals to come forward and place their wagers on different sports on the betting bk8 websites. People resorted to VPNs to open sites otherwise blocked, leading to a massive influx of bettors across the continent.
Current status of sports betting in Asia
Today the legality of sports betting varies within Asia from one continent to another. While some countries have legalized in-person betting, others have relaxed regulations on online betting. The industry has gained momentum as a result, and betting sites and casinos play host to various types of bettors. The big players place high stake wagers through agents across multiple casinos and sites. At the same time, there is no shortage of individuals who seek small wins through short odd bets and mostly rely on betting for fun and excitement or low-risk investment.
Most Asians are huge fans of football and closely follow all the major tournaments of the sport. During major tournaments like the FIFA World Cup and Eurocup, betting sites see a major rise in betting volumes. Online options have made betting more convenient, accessible, and appealing since placing a bet is just one click away. Most of the betting sites have easy-to-use, and mobile-compatible websites that have added to the convenience factors since mobile phone usage in Asia is at an all-time high. All these factors have thus contributed towards an increase in the popularity of sports betting in Asia.