In 2020, the online sports betting market was worth about $66.7 billion due to social distancing and quarantine measures. A large part of this market comes from Asia which makes up about 37% of the total global gaming market. Furthermore, as iGaming platform technology is getting better, Online Sports Betting in Asia is Becoming More Popular
Today, according to the latest online gambling statistics, 40% of all online sports bets come from Asial Even though the gaming market in Asia is hard to determine, conservative numbers estimate that it is least 10% of it.
Why Online Sports Betting in Asia is Becoming More Popular
There are several reasons as to the sharp increase in the in online sports betting popularity in Asia. However, in this report, we will only go over the largest reasons for its increase.
Online Sports Betting Laws – It is without a doubt that online sports betting laws and restrictions are loosening in the Asian market. As this trend increases, so will internet gambling as it provides more convenience for gamblers in Asia.
New Sports Betting Apps – Smart phones are becoming a way of life everywhere. For example, in South Korea 70.4% of the population owns a smartphone. While China is behind with only 59.9% users using one, it is still about 850 million smartphone owners. Therefore, more users are downloading sports betting apps. In addition, the betting apps now have more gambling features making it even more attractive to gamblers.
For example, one such feature is the proposition bet builder that allows gamblers to make their own bet. Without a doubt, such features makes online gambling even more exciting than ever!
Betting Exchanges are Becoming more popular in Asia – Betting exchanges are common in Europe and the rest of the world. However, it is fairly new to Asian gamblers but its popularity is definitively on the rise. Such websites now give gamblers better betting odds that are not available with local bookies. Thus, increasing the number of online sports wagers.
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