With the development of the Internet, Thailand's Internet has also been following up, including e-wallets. Although the authorities prohibit gambling, Thai people have a deep concept of gambling, including online gambling, but it is because of the deep gambling concept. concept, so Thai people will have inherent concepts when choosing gambling platforms, and will have doubts and wait-and-see attitudes towards new iGaming platforms. Therefore, if gambling platforms want to enter the Thai gambling market, they may have to take more into account the local In this aspect, the gambling platform is built as a gambling platform for Thai locals, which is mainly a people-friendly strategy.

Singapore iGaming market

Before talking about the Singapore gaming market, let’s take a look at the news:

In September 2023, Singaporean police seized bank accounts with a total estimated value of more than $1.13 billion and more than $76 million in cash. 68 gold bars, 294 luxury bags, 164 luxury watches, 546 pieces of jewelry, and 204 pieces of electronic equipment. In addition, more than $38 million in cryptocurrency was seized. More than 110 properties and 62 vehicles are valued at more than $1.24 billion.

This is the news that an illegal offline casino base has been investigated. Just one illegal base can detect these, but what are the so-called undetected ones?

This year’s Genting report mentioned that Singapore’s recovery from the epidemic and the reopening of national borders have caused Singapore’s gaming market to rise. Genting Singapore’s full-year net profit in 2022 reached US$340.1 million (GBP207.8 million/GBP236.4 million/GBP255.9 billion), an increase of 85.5%. Prior to this, Singapore has also added two new casino plans, which can be supported by the Singapore authorities in the gaming industry. In addition to increasing tax revenue, a casino is also a big chunk of tourists. The editor of TC-Gaming won’t go into details about Singapore’s economy here. As everyone knows, the per capita GDP lags behind China’s by several blocks.

Although Singapore has always regarded iGaming as illegal gambling, this has not stopped Singaporeans from being enthusiastic about gambling. The iGaming market in Singapore is actually showing a growth trend as people increasingly turn to online entertainment. Although the development of Singapore's iGaming market has been restricted, this iGaming market is mainly dominated by overseas gambling sites.

The boom in the land-based gaming industry shows that Singaporeans still have a strong demand for gambling activities. This provides the possibility for overseas gambling websites to find a living space in the Singapore market. As the Singapore Parliament passes a bill to comprehensively reform gambling regulations in 2022, the Singapore Casino Regulatory Authority will be renamed the Singapore Gaming Regulatory Authority, which may have a profound impact on Singapore's gambling market. In the future, as policies are further clarified and implemented, Singapore's iGaming market may see new changes and developments.

Philippine iGaming Market

The Philippines has always been one of the most prosperous gaming markets in Asia, attracting gaming enthusiasts from all over the world to experience its diverse gaming and entertainment venues. The Philippine government has taken proactive legislative measures and established the Special Gaming Commission (PAGCOR) to supervise and manage all gaming activities. The prosperity of the Philippine gaming market has attracted international investment. The entry of these international gaming companies has undoubtedly further promoted the development of the Philippine gaming market, making the development trend of its gaming industry more obvious. A variety of hotels, resorts, and gaming venues have sprung up to provide visitors with world-class accommodation and entertainment experiences. This not only creates jobs but also brings foreign exchange earnings to the Philippines, boosting the country’s economic growth.

• However, in 2023, PAGCOR Philippines announced plans to launch its first online casino, marking PAGCOR’s entry into the gaming field. It is scheduled to go live in the first quarter of 2024 and will allow consumers across the Philippines to gamble legally online through PAGCOR.
• PAGCOR said they are traditionally a brick-and-mortar casino operator, and their goal is to replicate the sights and sounds of a brick-and-mortar casino on the website. Previous regulations prohibited iGaming operators from targeting nationals as users, but this has now changed.
• Meanwhile, the Philippine Amusement and Gaming Corporation (PAGCOR) said revenue for the six months ended June 30 reached 36.21 billion pesos (EUR513.73 million/592.64 million/US$664.11 million). This is a 35.6% increase from the PHP26.7 billion in the same period in 2022. By the end of 2023, the organization's revenue could reach or exceed pre-pandemic levels.
• Alejandro Tengco, chairman and CEO of the Philippine Amusement and Gaming Corp., said: "We are optimistic that the growth momentum of the gaming industry can be maintained as regulatory policies are strengthened to attract more Filipino investors."

From my personal perspective, the rapid expansion of the private lottery industry in the Philippines is likely an important factor in these policy changes. In fact, the development of the private lottery industry is booming, which has not only greatly changed the attitude towards iGaming in the Philippines but also has a profound impact on the government's policy decisions. Therefore, I strongly feel that we cannot simply ignore the complex issues behind the growth of the private lottery industry. We need to think deeply and seek answers. Is this really just a matter of simple policy? Or are there other changes in the gaming industry? We need to analyze this issue carefully. In recent years, why have gaming investors expanded their target markets to overseas gaming? This is a question worthy of our in-depth discussion. In addition, I also think that an important factor that we cannot ignore is the increase in the number of overseas white label iGaming platforms. After all, Baotou and gambling platforms are interdependent, so we must take this factor into consideration.

There is a digression (the editor of TC-Gaming can find online gambling advertisements and entrances in GCASH; please see the picture below)

Brazilian iGaming Market

Brazil is the largest country in Latin America, with a population of more than 210 million, making it the fifth largest country in the world. Although gambling has always been a controversial topic in Brazil, the Brazilian gambling market has huge potential. Currently, Brazil’s gambling market is dominated by underground and illegal gambling activities, as Brazilian gambling regulations prohibit most forms of gambling. However, with policy changes in recent years, Brazil’s gambling market is gradually opening up.

In the last article TC-Gaming wrote about Brazilian White Label iGaming, it was mentioned that (Brazilian Congressman João Carlos Bacelar pointed out that the gambling industry may have accounted for 1% of Brazil’s gross domestic product (GDP). According to 2022 GDP data , which means that the market value of the gaming industry is as high as 99 billion Brazilian reals (about US$19.47 billion in total). In addition, the government is also expected to receive up to 25 billion Brazilian reals (about US$4.92 billion) in tax revenue. The gaming industry also has job opportunities will be created in Brazil. Therefore, the Brazilian government is gradually amending gambling regulations to open up its gambling market and attract foreign investment.)

(But this is late news, in September of this year, the Brazilian House of Representatives approved the government’s gambling bill, which regulates sports betting and online casinos. The passage of the bill marks the final step in Brazil’s process of regulating iGaming; one of the obstacles.

The requirements are: Decree 1330 confirms that foreign companies can do business in Brazil, but must establish a subsidiary in the country. They must also establish a local customer service center that provides online customer service in Portuguese 24 hours a day, 7 days a week through toll-free electronic and telephone channels. But companies have until November 26 to submit preliminary expressions of interest to the Treasury Department. They must indicate the number of brands they intend to carry and the type of business they intend to carry).

When I see the news here, the editor of TC-Gaming won’t say anything more, I’ll understand it instantly!

The Brazilian gambling market also began to attract attention this year. We can also see from the keyword popularity of Google that in May this year, the number of people searching for the Brazilian gambling market began to increase.

The betting market in Brazil ranges from traditional poker games to modern electronic games, and Brazilians’ favorite betting game is undisputed: sports. Especially football betting.

• Football Betting: Football is respected as the "national sport" in Brazil and is deeply loved. Football betting is one of the most popular types of betting in Brazil, attracting more than 80% of bettors.
• Basketball Betting: Basketball also attracts attention, and the Brazilian national basketball team also performs well in international competitions. Competitions such as the NBB (National Basketball League) attract large audiences and bettors.
• Pool Betting: Brazilians are also passionate about pool, a popular game especially popular on social media.
• Racing Betting: Racing is a high-profile event in Brazil, especially formula racing and rally racing. The annual event attracts a large number of spectators and bettors.
• Horse racing betting: Brazil’s horse racing culture has a long history, attracting local residents and tourists. Horse racing betting brings considerable income and promotes the inheritance of this culture.

Brazil, a country with a large population and untapped market potential, provides huge business opportunities for gaming companies around the world. The government's open attitude towards the gambling market undoubtedly indicates that gambling companies may find broader development space in this country. If your company is looking for opportunities to expand its business into overseas markets, Brazil is undoubtedly an ideal choice. Not only is this a popular betting market, but now is a great time to invest. Considering the huge potential of the Brazilian market and the openness of the government, now is the best time to enter the Brazilian market.

Latin America iGaming Market

The gaming market in Latin America has huge potential, and while the size and influence of Argentina and Brazil dominate the region, new opportunities are emerging in other Latin American countries. Especially in Peru and Chile, where the gambling market in these two countries is worth up to US$25 trillion, this is something that iGaming operators absolutely cannot ignore.

The gambling markets in Peru and Chile are growing rapidly, with both countries playing an increasingly important role in the gambling market in Latin America. While these two markets may not be as large as Argentina and Brazil, their potential cannot be ignored. Peru’s gaming revenue is expected to reach US$147 million in 2023, while Chile’s total revenue is expected to exceed $103.7 million. The huge potential of these two markets represents a business opportunity that cannot be missed for iGaming operators.

This situation represents an excellent opportunity for iGaming operators, who can take advantage of this opportunity to expand their market territory and increase their market share. At the same time, this also provides a new impetus for the development of the gaming industry and can help promote the development of the entire industry.

Chinese iGaming market

The Chinese gaming market has always been an important market for the gaming industry. China’s livelihood, economy, population, and the Internet have opened the door to iGaming. However, the Chinese gaming market now also has serious problems. The editor will not go into details about the good news, but let’s talk about the current situation of China’s iGaming market.

Challenges Facing Gambling in China

• Northern Myanmar, Philippines, Cambodia, and many Chinese people in these countries, you can say that they are stupid and can’t tell the difference. With the development of Douyin, many bloggers have mixed up all the news from Northern Myanmar, Philippines, and Cambodia in order to attract attention. After two years of anti-fraud propaganda. The consciousness of the people has been swept away. It can be said that the reputation in China has changed and the impression score is too poor, which also makes the progress of new gambling platforms difficult.
• China has begun to regulate bank cards since before the epidemic. Although China's payment channels are developed, the problem is that supervision is too strict, and cards and accounts are frequently frozen and blocked. In this context, payment costs are rising step by step.
• Local police stations in China have frequently begun to review or persuade citizens overseas to return. These tasks are included in the work assessment of local police stations, so as long as they are citizens overseas, they will receive the attention of the police. The police will have a detailed understanding of their activities. This strict regulatory policy has greatly increased labor costs for many overseas gaming companies. I still remember that there was a labor shortage during the epidemic.
• Promotional channels have become narrower, and the number of phone card registrations is limited. At the same time, all major online websites require mobile phone numbers to be registered. Most of them require real names or are linked to WeChat, Alipay, QQ, and some require secondary authentication, mobile phone numbers and real-name authentication. The name must be consistent with the ID card. These operations greatly limit the promotion channels of iGaming.
• After propaganda and confusion by the Chinese authorities, gambling is now equated with fraud in the eyes of some ordinary people. Therefore, it is more difficult than before for new users to transfer.

Current Opportunities for Gambling in China

Under the Chinese government’s strict censorship and systematic crackdown, China’s gaming industry has suffered an unprecedented impact. A large number of online gambling platforms have either been forced to close or have moved their gambling target markets overseas. These overseas markets, like the ones mentioned above, are now becoming the most popular and have the greatest potential for gambling.

However, everything has its two sides, and China’s gambling market is no exception. Although a series of problems such as the loss of publicity channels, the rupture of payment channels, and recruitment difficulties have greatly increased the operating costs of iGaming companies, China's gambling market still exists. The government's censorship campaign not only cracked down on the gambling industry, but also brought it into the public eye, letting more people know that gambling can be experienced online.

Although many iGaming platforms have withdrawn from the Chinese market, their share of the gambling market has not declined. The size of the market is still huge, but the cost of doing business has increased significantly. This also means that operators must find novel and attractive business strategies to gain a foothold in this challenging market.

Summary

China's future gaming market is full of opportunities and challenges. Due to China's large population base and extensive Internet coverage, China's gambling market still has huge development potential, especially in the field of iGaming. At the same time, with the continuous development of technology, the convenience and safety of iGaming are also constantly improving. Many overseas gambling websites use advanced encryption technology to protect user privacy and security. This is also the direction that TC-Gaming has been researching. Due to the strict supervision of payment channels by Chinese authorities, payment costs have increased, which has also given rise to more third-party payment channels. Despite this, the high returns have attracted many people. This is the law of nature. There are policies from above and countermeasures from below.

Regarding the overseas gambling market, in recent years overseas countries, Southeast Asia, and Latin American countries have used gambling to attract foreign investment into their countries. The main reason is that the gaming industry has quick results and high taxes, and the gaming industry can also bring vitality to the local economy. It can create a large number of job opportunities and drive the development of related industries, including tourism, catering and entertainment. In addition, the gaming industry can also increase the local's international visibility and attractiveness by attracting foreign tourists. This is what developing countries need. With the development of the times, more and more countries will open up the gambling industry.

TC-Gaming has more than ten years of experience in white label iGaming and is also an experienced and well-established white label iGaming company. TC-Gaming provides one-on-one professional guidance to ensure you successfully enter the gaming industry. We provide comprehensive technical support and services to solve technical problems and help you build a website in just 10 minutes. Our white label iGaming system supports multiple languages. Whether you are in the Chinese gaming market or overseas gaming market, we can help you navigate with ease. TC-Gaming White Label iGaming is your best partner!