According to a recent study from market research firm Graphical Research, the Asia Pacific online gambling market size is poised to expand at substantial CAGR during the forecast period. The future of online gambling market in Asia Pacific appears to be on a brighter side. The COVID-19 pandemic and the enforced lockdowns have had a favorable impact on the gambling industry of the region. Engagement in mobile gaming, internet gambling, and sports betting rose significantly, and digital entertainment became one of the limited sources of entertainment during the lockdown. The growing number of internet users in Southeast Asia must be highlighted here. According to the e-Conomy Southeast Asia (SEA) 2020 study, around 40 million Malaysians, Vietnamese, Singaporeans, Filipinos, Indonesians, and Thais went online for the first time in 2020.
According to market estimates, Asia Pacific online gambling market size will account for $ 50 billion by 2026. With the coronavirus outbreak, internet gambling grew in popularity among many nations of Asia Pacific, as many people resorted to their mobile devices for entertainment. People may now access internet gambling sites from the comfort of their own homes.
Several casino players are using their smartphones to play online games and earn real money, which has prompted smartphone makers to offer gambling apps in their app stores. Players today have a plethora of alternatives, which means casinos must stay on their toes in order to deliver a diverse range of games in their portfolios. Because of the ease of availability and accessibility of smartphones with online gambling apps, Asia Pacific online gambling industry share from mobile device segment is expected to have a significant revenue share in the market between 2020 and 2026.
In 2019, Asia Pacific online gambling market share from online poker accounted for a sizable portion of the total market. Access to the internet, the vast population-base of Indians, and the percentage of people joining online servers, continues to grow. Considering the above-mentioned reasons, poker is expected to grow rapidly in India and other Asia Pacific nations in the future years. The usage of mobile wallets, and app-based money, to simplify poker transactions has expanded its popularity among players. Free joining incentives and referral-based currency will allow players to play online poker with minimal commitment.
If one were to list out the diverse countries of the Asia Pacific, where the bottom on the pyramid holds strong untapped potential, India is the first country that comes to mind. One of the primary aspects that has given rise to the future of online gambling in India is technological improvement in the gaming business. Another important factor is the accessibility and price of internet data. The 5G network is the most recent market news in terms of internet data availability.
5G technology is the fastest broadband cellular network available. With a speedier internet connection, gamers will be able to enjoy online games on a faster network. In order to serve this emerging market, online gambling sites are staying on top of their game by incorporating AI, Bluetooth, and other innovative technologies to sustain their place in the market. King Billy Casino Play, Omni Slots Play, Bet365 Sportsbook Play, Playamo, JokaRoom, 1xBET Sportsbook Play, Fair Go Casino, Uptown Pokies, Joe Fortune, Las Atlantis, MyBookie, Super Slots, BetNow, and Bovada are among the prominent online gambling companies in Asia Pacific.