Without a doubt, gambling has won the hearts of many people in one way or another. And despite the heavy criticism coming from religious leaders and the insane laws imposed by Asian governments, this gaming lifestyle always finds its way to the top of the food chain. Surprisingly, Asia is etching closer to becoming the home of the world's largest gambling industry - a fact that has left many people from the West baffled. The fact that gambling revenues in Asia have soared up the charts has raised a few questions like; how it happened? And why? Well, if you are asking the same questions, below are a few statistics that can get you an answer.
Research shows that, globally, there are approximately two billion people who gamble at least once in a year with over 4.6 billion people having gambled at least once in their lifetime. And the number continues to grow exponentially because of the advent of online gambling sites that offer gamblers a seat at the table from the comfort of their homes.
So, what makes Asia special? Well, it could be because of one or all of the following facts and figures from some of the top gambling countries in Asia:
* In 2016, China's gaming revenues amounted to 25% ($24.4 Billion) of the Global Gaming Revenue, and it is also the home of the world's biggest gambling city - Macau. These figures can be attributed to the fact that China has more than 446 Million gamblers. Also, you should note that at least 20% ( that is 1 in 5 people) in Macau work in a Casino. That’s not all! Up to 80% of adults living in Hong Kong gamble at least once a year with casino revenues making up at least 80% of China's annual gaming income.
* The Philippines has the largest number of registered casinos at 57 followed by China at 54 and Cambodia at 32 just to mention a few. In total, there are about 307 casinos in Asia not inclusive of online gambling sites.
* According to the Global Betting and Gaming Consultancy (GBGC) in 2014, Macau (China) was - and still is - the world's biggest gambling destination with an annual Gross Gaming Yield of over $23 Billion from 8 of its largest casinos. Singapore followed in closely at approximately $5 Billion despite its bans on numerous offshore gambling sites. In fact, lawmakers in Singapore went an extra mile to come up with laws that made it a criminal offense to gamble on unauthorized gaming sites.
Now, despite Asia's gambling industry being on an upward trend, many of the participating countries have enforced strict gambling laws in an effort to mitigate this "vice" (as many would call it), but, unfortunately, these laws haven't deterred gambling activities in the region. On the contrary, the industry seems to be growing bigger and stronger that any other market in the world.
In 2013, The annual Gross Gaming Yield (GGY) in the US and Europe combined amounted to 300% more than Asia, BUT, at the same time, Asia's GGY per Capita was over 4000% more than the sum of all the other major players in the global gambling industry including the US and Europe.
1. Macau, China ( also called "The Monte Carlo of the Orient" or "The Gaming Capital of The World") - In light of the facts and figures listed above, it's hard to dispute the fact that Macau is truly the gambling capital of the world. The city boasts of huge and very popular casinos like the Sands Casino, MGM Grand, Ponte 16, City Of Dreams, and The Venetian among many others.
2. Singapore - Apart from being a lavish tourist destination, Singapore is Asia's second largest gambling city. In fact, the city-state's growing gaming industry is giving Macau a run for the money since it shows a lot of potentials and is growing rapidly. Some of the biggest casinos in Singapore include the famous Marina Bay Sands and Resorts World Casinos. The city's proximity to China has attracted a lot of wealthy Chinese gamblers thus increasing its GGY and overall ranking in the gambling industry.
3. Seoul, South Korea - Still in its infant stages as a gambling city, Seoul has also shown a lot of gaming potential with at least 16 casinos spread across the city.
4. Manila, Philippines- Manila is also on its way to becoming a major gambling city in Asia. Analysts speculate the city's GGY might soar up to $10 Billion in the near future.
5. Tokyo, Japan- Japan aren't far off in the gambling superiority race. Despite the fact that gambling remains illegal in this beautiful Island-state, Japan is in the process of changing that law. This will see the country launch its first casino in the near future (2020) and seeing as the Island is strategically placed, exponential growth in the gambling industry seems inevitable.
So, How Is the Gambling Experience In Asia Any Different From That Of The US and Europe
Notably, when it comes to gaming, types of games, and casino services everything seems to be the same, but when it comes to laws and revenue generation, there are a few differences that sprout up. For instance, the western countries can be said to have leaner gambling laws that those in Asia. Also, there is a difference in revenue generation in that Asia's gambling industry is yielding more profits than the West per capita. It wouldn't be logical to assume that the growth of this luxurious industry is attributed to the gambling experience in Asia, but it may be a major contributor. These are just a few of the differences, but if you look at the facts and figures, you'll be able to pick up on more differences.
To wrap this up, Asia's gaming industry shows a lot of promise, and it's obvious that Asia is taking the world by storm when it comes to gambling. But since the gaming industry is always shifting, a decade from now the tale may be a different one. We'll just have to wait and see.