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Asia – the New Frontier
Many analysts in the online gambling industry refer to Asia as the Promised Land. Although there is ongoing gambling activity in this market, with new companies being launched, merging and expanding at a rapid pace, experts say that this is only the tip of the iceberg and that there is still massive potential for the Asian continent.
While the gambling markets were being developed in the United States and Europe, Asian governments sought to crack down hard on their own gamblers. It is believed that because these gamblers were so repressed from regular gambling activity that their desire to wager – whether online or off – is greater than their Western counterparts. It is because of the Asian gambler’s insatiable desire to gamble hard that online casino sites are attracted to this region.
Over the years, many gambling companies found it difficult to do business in Asia, due to communication problems, infrastructure shortcomings and the problem of transferring currency. However, those who entered the business earlier are now reporting that things have certainly changed and it is quite possible to create a gambling empire if one only hits the right niche. The Asian market is certainly huge enough and if one has a product to sell, it will sell in Asia!
When the United States passed the Unlawful Internet Gambling Enforcement Act in 2006, many regular gambling operators were suddenly forced out of the local American market. Those who got out quickly enough, or those who had already gained some kind of foothold in the Asian gambling market managed to survive as they sought other markets for their services. As competition in the Asian market intensified, the products improved remarkably – with the player benefiting from this the most.
In order to attract Asian players, gambling operators have tailored their sites and games to this specific market. Chinese language online websites, software that can be used in Japanese and Mandarin, uniquely Asian games and many others have been created to cater to these players. In addition, it is also known that Asian players are attracted to sites that allow them to pay in their own currency, without the need to carry out transactions in US Dollars or Euros.
In 2003, the Asian market accounted for 16% of the total net betting market of $5.6 billion. By 2006, that number had jumped to 40% of a total market of $11.6 billion.
One only needs to examine the growth of Macau to understand just how fast the gambling market is expanding in Asia. This Chinese peninsula that was once a Portuguese colony was granted permission from the Mainland government to develop into a gambling Mecca. Today, Macau has outstripped Las Vegas in terms of gambling revenue and has managed to grab the attention of international gamblers at the highest level. Construction of new casinos and hotels was raging out of such proportion that the government had to put a stop to it.
Whichever way one looks at it, the growth of gambling in Asia is unstoppable and it is not for nothing that Asia is considered the New Frontier.
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