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Asian Mobile Gambling on the Rise

Asia has been determined as a key target for mobile gambling over the next few years, according to Telecom Asia. Currently sitting at $426 million, the mobile gambling market in Asia will grow to $2.7 billion by 2010, making it mobile gambling’s second largest market after Europe, according to the report. The report assessed that the growth in the Asian gambling market was because of a relaxation of laws in some countries and an ever-increasing awareness of online casinos and gambling amongst the population.

The report continued that global mobile gambling, including sports and spread betting, mobile lotteries and scratch-cards, as well as casino gambling and skill games, is expected to grow from $1.2 billion in 2005 to $7.6 billion in 2010. Telecom Asia stated that the global gambling market was opening up at a dizzying pace and new mediums through the computer, telephone and other mobile units were bringing gambling options to anyone who sought them. The mass-market audience was an essential factor in the spread of mobile gambling.

A parallel research predicts that there will be more of an increase in global mobile gambling, indicating that by 2009 figures could reach $19.3 billion. Much of this growth in the industry is due to technological developments, with Telecom Asia assessing that the development of sophisticated handsets and advanced mobile data services is already taking mobile gambling services to new levels.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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