| Last updated: 4:15 AM Monday May 12nd 2008 | |  | Asia |
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| | Time-honored Asian Gambling
Gambling has been a recreational tradition among most Asian countries since about 900AD when the Chinese first invented playing cards. Not only do the Asians love gambling in a wide variety of forms - from time-honored Asian skill games to common casino table games - but they are also one of the fastest developing markets for online gambling. In fact, Asia has been one of the most talked about regions among industry professionals since online gambling began, and today it is THE place for all present-day and future online gambling developments.
Asia is the place to be
Why is Asia such an online gambling industry hot-spot? There are a range of interesting reasons, each of which proven and analyzed by professionals. One of the main motivations is the fact that Asia is the fastest growing region in the world, according to The World Tourism Organization, forecasted because:
- Asia is experiencing strong economic growth.
- Asians have a strong tendency to gamble due to gambling being an inherent part of their culture.
- Middle-class Asians are emerging as a new buying market in the entertainment field.
- Many legalized gambling markets remain undeveloped.
Questions of legality in Asian countries
Asians have popped in and out of the online gambling industry due to the never-ending changes made to their legal systems and gambling legislations. Despite the massive appetite for gambling of all forms, as well as a permissive technical infrastructure, the legality of online gambling has been declared explicitly criminal in many Asian jurisdictions and remains entirely questionable in others. The reason behind this is a complete lack of comprehensive gambling laws and/or reference to the remote gambling industry. In Singapore, for example, "common betting-houses" are prohibited, yet are defined as any place used for habitual wagering on events or contingencies despite the public ability or inability to have access to it. The definition can be interpreted in a number of ways, and it is therefore risky for industry professionals to base their business on this fine line.
Other hurdles blocking the expansion of the industry include Cultural and political instability - areas such as Laos and Cambodia have significant safety issues, and various religious constraints imposing restrictions in most countries aside from Macau and the Philippines. Horse-racing and lotteries are the most commonly accepted forms of online and offline gambling in Asian countries, and where it is permitted, online casino gambling is the favorite (poker the preferred game).
In some areas, the government has been keen to preserve a monopoly control over online gambling, such as the Philippines, who for several years was dominated by state-owned PAGOR, and only succeeded at opening its doors to competition when the President was impeached. However, the overwhelming use of the service by the public proved both their desire for online gambling and the market capabilities that the industry has been searching for. Today's emerging Asian markets include Vietnam, Myanmar and Thailand. What is expected from Asia
Online gambling in Asia has developed greatly since the first Asian online casino was launched in 2000 (SAGE), yet still has a long way to go before becoming a fully-fledged developed market. The belief held by analysis experts and industry professionals is that the restrictive environment that has been maintained until now has only strengthened the Asians' desire to turn to online gambling in an attempt to prove their governments and legislations ineffective in trying to prohibit it. Similarly, O\offshore competition believes that eventually, jurisdictions will be forced to legalize it. In addition, many of today's governments are trying to adopt more 'Western' approaches for society, and as such Macau and the Philippines are being called the 'Oriental Monte Carlos'.
Experts have also proven that today, Asian nations constitute the majority of the online gambling market, and even more so for the development of new gambling technologies such as mobile gambling. Gaming analysts at Christiansen Capital Advisors have shown that Asian markets made up 40 percent of the total online gambling market in 2006, and that they have grown faster than all other established markets. It is just as quickly becoming common for many online casinos to now offer their software in Asian languages and currencies, as well as offer many traditional Asian games as part of the casino gaming package.
With so many developments and so many expectations hanging on them, the pace of online gambling growth in Asia is not expected to slow down any time soon, and it is a place worth keeping your eyes on for great things to come. |
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