The global sports betting market is growing rapidly and is estimated to grow more in the next few years. Talking about Asia, the Asian Pacific region has shown continuous growth and has become the biggest and the most successful market globally. Considering its success, we have mentioned below the sports betting market in Asia – Data, Facts, and Figures.
Asia, being the largest continent in the world, consists of a population of 4.6 billion people, which is 60% of the global population. Referring to the population, Asia is the largest gambling market globally, acquiring 48% of the worldwide market worth $72.2 billion in 2019.
Here, we have discussed the contribution of Asian countries to sports betting.
Sports Betting Market in Asia – Top 8 Countries
Though Asia is the biggest market for gambling on the earth, there are some countries where sports betting and lottery are allowed following the specific lows. So, let’s see the facts with statistics about the countries where sports betting is accessible.
First comes China, the most populated country in the world alone, which covers the size of the USA market for sports betting. Gambling has been illegal under Chinese law since 1949, when the communist party came into power. The government of China has started two lotteries called China Welfare Lottery (CWL) and China Sports Lottery (CSL). These lotteries are very popular, and the Chinese population can bet on international sports like Football, Basketball, and Baseball. Many players from Mainland China put their bets on offshore betting sites located in Thailand and Cambodia. One of the strongest players in this market is Sbobet.
Japan has a difficult relationship with gambling, but the government of Japan is now planning to legalize sports betting. Betting in sports like football and baseball will be available for the citizens, which is estimated to create $65 billion a year combined.
Additionally, all types of racing sports like horse racing, bicycle racing, motorboat, and asphalt speedway motorcycle racing are permitted under special laws. All this gambling is regulated by the local government and the government companies in japan.
Unfortunately, sports betting is illegal in South Korea, but several offshore betting websites operate there. They offer a variety of sports to bet on, but Korea has shown a rapid growth of esports tournaments happening worldwide.
South Korea is known for its advanced technologies that serve the whole world. So, they are involved in esports, where almost 41.8% of adults are active in online gambling. Also, 2.3% of the population is engaged in sports betting, including big tournaments and video games.
Gambling in India is illegal by the central government, whereas various states have legalized online casinos and sports betting in their states. These sites offer several sports to bet on, but you can see the tremendous growth in cricket betting.
India creates annual revenue of about $60 billion through gambling which has a growth rate of 20% every year. There are almost 140 million people who bet regularly, whereas 370 million people gamble on major events. The massive can be seen during the IPL, which is the biggest tournament in India. Besides, there are about 37 betting sites are active and creating great revenue for the country.
The gambling industry in Macau generated a revenue of $86.9 billion in 2021. Significantly, they show a growth of 20% in the year. Online betting in Macau began in 1998 and came into the limelight in 2011. The country focuses on sports like football and basketball, where the people are allowed to bet.
Sports betting has been legal in the Philippines since the 16th century and was legalized in 1976 by the president, Ferdinand Marcos. He also created Philippine Amusement and Game Corporation (PAGCOR) to encourage sports betting in the country.
Several websites are running in the Philippines to support betting on various sports like football, basketball, rugby, cricket, baseball, tennis, golf, boxing, eSports, horse racing, and car racing. However, the tourist from China has helped the country to generate maximum revenue as they love to visit and bet on sports.
Vietnam is the major contributor to sports betting globally, and it has been recorded that the market was $10.1 million in the year 2019. It is one of the highest growing markets in South Asia, increasing up to 28% of the five-year compound growth rate. There are 3.99 million gamers in the country, and almost two-thirds of the population is between the age of 18 to 30.
The major factor responsible for the growth of sports betting in the country is smartphones. About 50 percent of smartphone users are involved in gambling. With high spend internet connectivity and the 4G network facility, the players join online betting websites that offer various games to bet in Vietnam.
Cambodia has prohibited local players from betting on sports but encourages foreign players to play the games, especially those from Vietnam, where betting is restricted for locals.
There are almost 2.5 million active players involved in various betting sites. There are mostly offshore betting sites that welcome Cambodian people to enjoy gambling. They offer several sports, but people in Cambodia love to watch football. With such demand, the available gambling sites in Cambodia deal with major international football tournaments to generate great revenue year after year.
Asia is undoubtedly the biggest hub of the online betting industry on the planet, which alone serves 48% of the global market. Being the biggest and the highest populated continent in the world, it has the maximum number of players involved in sports betting. Above, we have mentioned some stats about sports betting in Asia and included all the data, facts, and figures of the countries with legal sports betting sites.
Most countries in Asia have restricted online sports betting, but some of the websites are still running their business following the specific lows. Many pe ople use offshore betting websites to continue their betting careers and somehow survive in the industry.
If you are also keen to enjoy gambling, then first know the popularity and the legalities allowed in your country before placing the bet. Going through legal ways will keep you away from unforeseen situations in sports betting.
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