Asia Online Gambling Revenues & What It Means to India

By- Analisse

With the emergence and development of technological devices, almost everything can be done online, including gambling. Online gambling has become prevalent nowadays, and people around the globe are enthusiastically participating in it. Some Asian countries, for example, are legally hosting online gambling because of the demand.

Contrary to what the media shows, online gambling, in reality, has numerous positive impacts and benefits both on the individual and the state. Besides increasing the employment rate, it can also revitalize your country's economy by contributing more significant tax revenue to the state and the local governments. Casinos also pay taxes for regulations and licenses, which is beneficial to the country.

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Because of these advantages, countries in Asia, including some respective states in India, approved online gambling. With more than 300 million Indians who love participating in online gambling, it is predicted by some analysts that the country's gambling revenue in 2025 could go up to $10.2 billion. That's a considerable amount, and India is not the only Asian country with increasing gambling revenue each year. There are others, including:

Philippines

The Philippines is one of the Asian countries that offer online gambling platforms and services. There are numerous accessible online gambling sites and casino apps that pay real money in the country. Some online gambling sites include 22bet Casino, 888casino, 20BET Casino, bCasino, King Billy Casino, etc.

Since gambling is legal and regulated in the Philippines, it was reported that the country generated gross gaming revenue of Php2.16 billion (US$44.6 million) in 2020. In 2017, PAGCOR, or the Philippine Amusement and Gaming Corporation, collected a gambling revenue of $1.6 billion from the legal gambling operations in the country.

Macau

In 1849, the Portuguese government legalized gambling in Macau to generate revenues for the government. Since then, more than 200 gambling houses in the region were required to pay regulations and gambling rent. A reason why Macau is called the "Gambling capital of the world," "Monte Carlo of the East," and the "Las Vegas of the East."

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The gambling and gaming industry in Macau shares 50% of the region's economy. The revenue generated from this industry reaches up to $29 billion in 2019, mostly coming from games of fortune, such as poker, baccarat, roulette, etc. In 2020, $3.4 billion of gambling revenue was generated despite the coronavirus outbreak.

Although gambling is legal in Macau, there are no existing regulations for online gambling and online casinos. But that does not mean that the people in Macau are prohibited from participating in online gambling. They can still bet online, but only with credible foreign-based online casinos and gambling sites.

Online gambling has become prevalent nowadays, and people around the globe are enthusiastically participating in itPixabay

Japan

In Japan, only several gambling activities are legal. These gambling activities include horse race betting and motorsports betting. Pachinko, a machine game, is not considered a gambling game, but it generated a market revenue of 3.7 trillion Japanese yen in 2016. Since race betting is legal in Japan, it also generated an annual turnover of approximately 2.8 trillion Japanese yen in 2019.

Hong Kong

Hong Kong is one of the particular administrative regions of China that permits gambling, specifically horse race betting, football betting, lottery, and other sports betting that Hong Kong Jockey Club operates. Hong Kong Jockey Club is the most prominent taxpayer of the Hong Kong government, with a revenue of $21.7 billion from 2016 to 2017.

Having complete control of horse race betting in Hong Kong, Hong Kong Jockey Club holds the record of generating the world's most significant horse race gambling turnover. Compared to France, its closest rival, which had a $2 million gambling turnover in 2009, Hong Kong generated $12.7 million in gambling turnover per horse race in the same year.

Singapore

Singapore is known for its best casinos, such as the Marina Bay Sands, the Resorts World Santosa, and the Aegean Paradise Cruise, in Asia. It is also open for online gambling if only done through gambling operators, namely Singapore Pools or Singapore Turf Club. The Resorts World Santosa, under the casino operator Genting Singapore Ltd, generated $52.1 million net profit in 2020.

Since casino gambling is legal and regulated in Singapore, the country has started taking casino entry tax for Singapore citizens. In 2020, the gaming revenue of Singapore had reached up to SGD700.8 million, while the non-gaming revenue had reached GD299.4 million.

Takeaway

The legalization of gambling has always been debatable in most parts of the world, especially in Asia. Some Asian countries, including Macau, Malaysia, and Singapore, do not have regulations on online gambling. Still, residents from these countries can participate in online betting on online casinos and gambling sites from foreign countries, such as India.

With this, India can expect an increase in revenue, especially if the country legalizes and regulates online betting. The legalization is still debatable in the country despite the numerous benefits it can bring to India's economy.

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