The Asian region is one of the largest gaming markets in the world, and the iGaming industry in the region has maintained a growth trajectory, including China, Singapore, the Philippines, South Korea, Japan, Malaysia and other countries. This has been well documented over the past few years as gaming industry revenue has grown year over year. At the same time, the iGaming environment in Asia has also undergone great changes. Since the start of the pandemic, we've seen more and more people forced to stay at home, while many companies have pivoted to remote working. With the emergence of a new generation of middle class, the popularity of mobile and tablet applications, and the improvement of broadband Internet connections, many people find that they have more time and opportunities to try iGaming, which has also led to an increase in the number of iGaming players. In addition, some countries have also begun to relax restrictions on gambling, allowing more people to try the fun and excitement of online betting. Before talking about the prospects of the Asian iGaming market, let’s first take a look at the market conditions of the Asian iGaming market in recent years! In recent years, the proportion of the iGaming market in the global iGaming market has been increasing year by year. Just in 2012, iGaming accounted for 8% of the global gaming market, but in 2020 it has risen to 14%. iGaming has great potential to drive revenue growth and provide entertainment to those who are interested, and has become mainstream in the iGaming industry. Many countries have also passed legislation to regulate the lucrative iGaming industry. At the same time, it is also one of the ways for some countries to attract investors from other countries, such as Cambodia, Myanmar, Philippines, Greece, Monaco, Canada, Norway, Sweden, Armenia, the East African country Seychelles, the United Kingdom, Japan, Spain, Germany, and the Bahamas China, Venezuela, Kenya, Bolivia and Kosovo are all opening up or have opened up the legalization of online or offline gambling. In addition to direct tax revenue, it can rapidly improve the country's tourism, economy and employment rate. For example, Japan's construction of casinos and Singapore's construction of casinos are generally aimed at stimulating and increasing the country's economic income.

In recent years, the proportion of the iGaming market in the global iGaming market has been increasing year by year. Just in 2012, iGaming accounted for 8% of the global gaming market, but in 2020 it has risen to 14%. iGaming has great potential to drive revenue growth and provide entertainment to those who are interested, and has become mainstream in the iGaming industry. Many countries have also passed legislation to regulate the lucrative iGaming industry. At the same time, it is also one of the ways for some countries to attract investors from other countries, such as Cambodia, Myanmar, Philippines, Greece, Monaco, Canada, Norway, Sweden, Armenia, the East African country Seychelles, the United Kingdom, Japan, Spain, Germany, and the Bahamas China, Venezuela, Kenya, Bolivia and Kosovo are all opening up or have opened up the legalization of online or offline gambling. In addition to direct tax revenue, it can rapidly improve the country's tourism, economy and employment rate. For example, Japan's construction of casinos and Singapore's construction of casinos are generally aimed at stimulating and increasing the country's economic income.

Chinese iGaming market

Although the Chinese government has been tightening regulations on online gambling, iGaming remains a rapidly growing area of ​​the Chinese gambling market. According to Statista, the size of China's online gambling market reached US$20.88 billion in 2020, which is a very large number. Although the government has been taking measures to combat illegal gambling, there are still many gambling websites that circumvent supervision through various means and even cooperate with gambling websites in other countries to provide services to Chinese gamblers, which has also led to the rapid growth of the online gambling market.

In addition, although the Chinese government has banned casinos, most of the approximately 340 casinos in Southeast Asia have the express goal of attracting Chinese gamblers, reflecting the huge number of Chinese gamblers. An estimated 1 trillion yuan (US$144 billion) of gambling money leaves the country each year, illustrating the spending power of Chinese gamblers. Therefore, casinos and iGaming platforms in Southeast Asia have become the main choice for Chinese gamblers.

However, despite the rapid growth of the iGaming market, the Chinese government has been taking steps to crack down on illegal betting. In recent years, the government has stepped up its crackdown on illegal gambling websites, restricting the flow of gambling funds into illegal gambling websites through measures such as restricting network access and increasing supervision. Generally speaking, China's iGaming market is growing rapidly and is the largest gambling market in the Asia-Pacific region. The online gambling market has a strong performance. Although the Chinese government has been tightening regulations on the gaming industry, the market still has a lot of potential for growth. Especially as the Chinese economy grows and people's living standards improve, the gaming market will continue to benefit from increased domestic demand.

Vietnam iGaming Market

Vietnam has one of the largest mobile game markets in Southeast Asia. In fact, mobile gaming has easily surpassed PC gaming in terms of revenue and user base. Thousands of mobile game developers operate within Vietnam. At the same time, online payment is also developing rapidly; Vietnam is also an emerging iGaming market in Southeast Asia, and its iGaming business has grown significantly in recent years.

The iGaming market is currently around US$67 billion and is expected to grow to nearly U$93 billion by 2023, an annual growth rate of nearly 11.5%, according to Innovecs Gaming.

The reason for this boom is the increasingly strong digitalization trend and the relaxation of regulations related to iGaming. In May 2018, Vietnam’s Supreme Court decided to upgrade the Professional and Amateur Sports Protection Law, which legalized limited sports betting.

Sports betting accounts for the largest share of online gambling in Vietnam at over 40%, followed by online casinos and lotteries at 32.1% and 13.2% respectively.

Thailand iGaming market

According to the survey, 59.6% of Thais in Thailand have tried gambling in 2021, about 32.33 million people, an increase of about 6.3% from 2019. This proportion is getting higher and higher, and even 29.5% of Thais aged 15-18 have participated in gambling. In addition, the online gambling market is also growing rapidly, with the number of online gamblers increasing by 135.8% and the amount of iGaming increasing by 431.3%. Online gambling games have become the most popular among Thai players, especially games such as Baccarat, Pok Deng and other types of card betting.

Malaysia iGaming Market

Malaysia is a country with a large population and rapid economic development, and has a large middle class and mobile Internet user groups. These factors provide a broad market space and potential for the iGaming business. Although the Malaysian government has been intensifying its crackdown on iGaming businesses, there is still a large amount of money flowing from Malaysia to online gambling platforms in other countries. Still expanding. According to a report released by Statista, the size of the online gaming market in Malaysia in 2019 is approximately US$470 million. The report also predicts that the iGaming market in Malaysia is expected to grow to approximately US$640 million by 2024. In terms of the number of users, in addition to Malaysians, foreign tourists are also one of the main members of Malaysian iGaming market.

Malaysians are avid sports fans and Malaysians reflect their love in their betting habits regardless of their legal status. In addition to betting on horse racing, badminton and football, Malaysians also bet on European events such as the Premier League, but also bet on the most popular Super League in the country. Motorsports are also popular, with Malaysia even hosting the Formula 1 Grand Prix and MotoGP World Championships. Besides sports betting, Malaysians also enjoy slot machines, poker, and live dealer games.

Japanese iGaming market

The Japanese iGaming market has been relatively conservative over the past few decades, but has seen some changes in recent years. In 2018, the Japanese government passed a bill allowing casinos to open in the country to attract more international tourists and boost tourism. The bill, known as the "IR Act" (Integrated Resort Regional Integration Promotion Act), aims to create integrated resorts that include casinos, hotels, shopping malls, convention centers and entertainment facilities. Under the bill, the Japanese government will approve the establishment of up to three casinos nationwide, as well as allow other forms of gaming operations, such as sports betting and iGaming, in integrated resorts. This new law is also dividing up the gaming market share of neighboring countries, but it is undeniable that the implementation of the new law will bring a lot of investment and employment opportunities to Japan, and bring significant benefits to Japan’s tourism industry. Generally speaking, Japan is also optimistic about the iGaming economy.

Singapore iGaming market

Singapore is another important gambling market in the Asia-Pacific region, focusing mainly on casinos and online gambling. The Singaporean government is also actively promoting the development of the gaming industry to attract more international tourists and investment. The Singapore government opened up the casino business for the first time in 2005 and introduced two large-scale integrated resort-style casinos, which became a major part of Singapore's iGaming business. However, the iGaming market is relatively small due in part to the Singapore government's ban on iGaming. However, there are still some iGaming companies offering services in Singapore, which are registered overseas and provide iGaming services in different ways. According to data released by the Singaporean government, Singapore's gaming business revenue reached US$6.8 billion (approximately US$5 billion) in 2019, of which the casino business contributed most of the revenue. Overall, Singapore's gaming market is small, but its casino business has attracted much attention and has a certain influence in the Asian region. (But one thing worth noting: Singapore’s gambling participation rate from 2005 to 2017. A survey found that Singaporeans’ gambling participation rate was the highest in 2005, with 58% of respondents saying they had gambled in the past 12 months. This was the lowest point in 2014, at 44%. By 2017, the gambling participation rate was 52%. Basically, gambling is relatively common and accepted in Singapore. It can be said that gambling is not a sensitive word in Singapore.)

South Korea iGaming Market

South Korea is a country with a long history and cultural heritage, and it is also an important gambling market in Asia. The South Korean government allows gaming operations in specific areas, the most famous of which is the Sky City Casino, as well as several casinos such as Qiguangmen Casino and Lotte Casino in downtown Seoul. However, there are also a large number of folk gambling activities in South Korea. These games are mainly played in places such as families, communities, and small shops, such as "Citigroup", "Bullfighting", and "Treasure" and other gambling games. Although the gambling market in South Korea is not large, the quality is very high. After all, the per capita income is there. In 2021, South Korea's gaming industry generated nearly 14.4 trillion won in revenue, according to data released by the South Korean government. This is an increase from the previous year.

Indonesian iGaming market

Indonesia, a country whose main religion is Islam, officially bans all forms of gambling. Therefore, Indonesia does not have an official betting market and does not allow any form of gambling activities. This is why the main channel for Indonesian people’s demand for gambling is through iGaming. Indonesian Minister of Communications and Information Technology Johnny Plate said in the news that from 2018 to July 31, 2022, 534,138 gambling accounts were closed. But if you take a closer look, over 500,000 accounts have been discovered in the past five years. How many accounts have not been discovered? Indonesia has a population of 270 million.

Positive signal for Asian iGaming

1. In recent years, Asian countries have opened up their gaming markets to increase their economic income. Recently, Osaka, Japan will open its first casino, which could make Japan the next gaming hub in Asia. Besides Japan, other countries are also preparing or drawing up proposals to promote the gaming industry.
2. India changes gambling laws to ban iGaming. Although iGaming is prohibited, states may be authorized to open iGaming according to India's national conditions.
3. Although the epidemic has had a great impact on the global economy, the gambling market is recovering rapidly. As the middle class continues to increase, the prospects for the gambling market are also brighter.
4. All Asian countries are speeding up Internet construction, and smart phone users are also increasing. This provides better conditions for iGaming.
5. In order to adapt to the trend of the world economic environment, Asian countries are establishing their own online payment channels and promoting online payment. This will bring more opportunities to the gaming industry and will also make it easier for more people to become part of the gaming community.
6. With the rise of Internet technology, the white label iGaming has been recognized by the majority of iGaming bosses, and the cost of setting up a iGaming platform has been greatly reduced, and the iGaming bosses can completely focus on platform marketing.

Asia iGaming Industry Challenges and Issues

1. In order to ban iGaming, payment channels have been strictly regulated in China, and entry and exit inspections have also been strengthened. This results in increased payment costs and labor costs for gambling platforms. At the same time, the Chinese government has also implemented a strict review mechanism for domestic online media platforms, and publicity costs have also increased. Despite this, the Chinese gaming market remains one of the most important markets for the Asian gaming industry. Therefore, how to control costs is one of the challenges that gambling platforms face in the Chinese gambling market.
2. Different countries’ cultures, religions, languages, habits, visual aesthetics, and types of gambling games will have different preferences. At the same time, the marketing methods and marketing channels of preferential activities will vary depending on national conditions. Therefore, gambling platforms that want to operate cross-border must take these comprehensive issues into consideration. After all, no matter how good your promotion is, if your platform does not meet the preferences of local players, user stickiness and conversion rate, registration volume, unit price and game frequency will all be different from your estimates.
3. The gaming market in Vietnam is relatively hot now, but no one knows how long it will remain so hot. But from the perspective of the development direction of the platform, it is also possible to examine more other countries as the second or third gaming market. After all, there is always an inherent advantage for gaming platforms to enter the local market early.
4. Although the development of the Internet has also driven the popularity of the iGaming industry, considering the overall environment is not the only criterion. It can only be said to have a certain reference value. Therefore, to do a good job in gambling, understanding the local traffic entrance is also an important link. After all, different countries have different national conditions, and the traffic entrances of Internet users are also different. Therefore, while entering the local market, gaming platforms need to conduct more investigations and tests on local traffic entrances and effective promotion channels. At the same time, gaming companies need to continue to innovate and improve in order to attract more users and improve user experience, which requires a lot of investment and technical support.
5. Although the white label iGaming has been widely used by iGaming platforms, the cost of operating a iGaming platform has been greatly reduced, and it has also caused confusion in the white label iGaming market. A small group of 3-5 people will be called a large white label iGaming company. I don't know where I got the underlying white label iGaming code, and I can accept various needs without thinking. Anyway, after the money arrives, no one may be able to find it. Or leak iGaming platform player information. Or the iGaming platform often fails to operate normally during operation. The Asian gaming industry therefore also faces technical and security issues. iGaming platforms need to keep technology updated and improved to improve user experience and security. In addition, network security issues also need to be taken seriously to ensure the safety of players' personal information and funds and to ensure the normal daily operation of the iGaming platform.

Summary

Overall, the outlook for the Asian iGaming market is positive. With the economic growth and tourism development in the Asian region, the iGaming market will continue to grow and expand. However, how to effectively improve the competitiveness of gaming platforms in the local market needs to effectively meet the preferences and needs of users in the local iGaming market according to the national conditions of different countries. For this reason, the support of a professional and technically strong white label iGaming company is needed to realize a iGaming platform that meets the needs of local users. When choosing TC-GAMING's white label iGaming platform, factors such as TC-GAMINGS’s background functions, team R&D capabilities, white label iGaming’s stability, visual appearance, multi-language modules, and a large number of game types suitable for different users need to be considered. TC-GAMING is an old-fashioned company that has been deeply involved in the white label iGaming industry for 16 years. It has always adhered to the principle of continuous innovation and customer first, and has won the trust and recognition of more than 1,000 gaming giants. I believe that TC-GAMING's white label iGaming will be your best partner!