Sports Betting In Asia – Is it Different From the Rest Of the World?— June 8, 2021
Throughout history, many people all around the world have invented games and opportunities to place bets. Humans have been gambling since the dawn of time and with this in mind, it’s not hard to see why it has ingratiated into many different cultures. One particular part of the world where betting is popular is Asia. As time has progressed and advancements have been made, the gambling industry has changed significantly. Let’s focus on sports betting in Asia and consider how it differs from its more westernised neighbours.
Quick overviewThere are several ways how sports betting in Asia sets itself apart. Here’s a brief look into some of the points we’re going to expand upon:
- Asia makes up for one of the largest parts of the world’s gambling industry
- With its massive popularity, the amount of cash that goes into the market is incredibly high – outpacing even its biggest competing markets
- Gambling isn’t entirely legalised in all parts of Asia
- In many instances, Asian bookmakers offer bigger bets, higher stakes and more competitive prices
- The most common type of sports betting in Asia is the Asian Handicap. It has even branched out to other bookmakers globally due to its popularity
How big is sports betting in Asia?The betting industry in Asia is massive. Mostly it is so due to the fact that it accounts for around 60% of the population who has at least once placed a bet. For example, did you know that 40% of the bets made in the sports gambling industry are placed in Asia? The fact that Asia is home to such a large quantity of people definitely makes it easier for the region to have higher gambling involvement. It’s also worth considering that sports betting overall is booming right now, and isn’t showing signs of stopping any time soon. To a great degree, it has been happening thanks to the convenience and simplicity that the best asian sports betting sites provide. As more people look for a way to entertain themselves and the laws and restrictions slowly ease up in most countries it becomes easier and easier to place a bet these days.
How much does the market amount to?With all of the above in mind, how much goes into the betting industry from Asia alone? While there’s no way to know for certain the exact amount that’s played into sports gambling from one location – in Asia, it’s believed to amount to somewhere around $250 billion. This isn’t the only statistic that we can consider when trying to determine the amount of money that people spent on betting shops and casinos. If we look into the online gambling market here, we’ll see that there’s another large sum to calculate, too. It’s very probable that it amounts to over 20 billion by now, perhaps even reaching close to 30 billion. As more individuals turn to online sports betting in Asia, it’s likely that these numbers are going to continue to increase in the near future.
Where is sports betting allowed in Asia?While many people in Asia gamble, the laws regarding gambling, in general, can vary quite a lot from one area to another. For example, in some countries it’s completely legal, some have laws against gambling in its entirety, and some will have restrictions while allowing certain forms of betting. The good news is that the gambling restrictions that have been held for so long in many Asian regions have begun to lift up. Even in more restrictive areas, laws and regulations are beginning to loosen up. In fact, it may not be long at all until sports betting becomes accessible for everyone in Asia who is over the legal betting age, of course.
The potential for bigger, better wagers in AsiaConsidering the size of the market and the fact that gambling is opening up to more and more people across the continent, it is only logical that this gives players a chance to make grander bets. The more prominent Asian bookmakers operate on lower margins than European ones, and tend to have higher stakes and more competitive prices. Right now, this is a good thing for a lot gamblers – as you’ll find great prices and offers on pretty much any major sporting events. Also, there are lesser-known local games, leagues and divisions!
The Asian HandicapIf you consider yourself a fan of sports betting, you may have already heard of this particular type of wager. This method allows punters to eliminate the ‘draw’ outcome of a sports game. What that means is that the bookies try to balance the odds to a 50-50 outcome, without the additional chance of a draw between two teams factoring into the bet placed. This offers bookmakers a smaller margin for loss and punters better prices – and therefore the chance to make higher bets. It’s also worth noting that Over/Under and 1 X 2 betting are also popular here. Once upon a time, this was a bet that you could only really find in Asian countries. While it’s still incredibly common and ever-popular, bookmakers from around the world have seen the potential and utilised the Asian Handicap for their own services.
Summing upEssentially, the main difference between the Asian betting market and that of the rest of the world is that it’s both larger and more successful while remaining restrictive in many locations. As we can see from the points made above, Asian sports betting isn’t doing too badly. With its constantly growing popularity and the easing of restrictions, it’s likely to grow considerably more as time goes by. From higher stakes to the unique wagers of Asian Handicap betting; there’s quite a lot that can be discovered about sports betting in Asia. There may be restrictions for non-local/national gamblers too, so if you’re hoping to place a bet outside of Asia, be sure to do your research first.
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