Archive for the ‘Gambling in Asia’ Category

Gambling in Asia

gambleDo they like to gamble in Aisa? Well, is the Pope….., do bears….., and other equally well known comparisons really do scream out. There is a taste for gambling across many Asian cultures that western tastes just do not understand. If you want to understand the fervour watch a skilled game of Mah Jong being played in China. Played at what can sometimes appear to be breakneck speed, the game is also one of the country’s most popular betting games.

 

With recent economic explosion in China, a vast new market for gambling exists and the creation of Macau as an SAR (Special Administrative Region) led to the legalisation of gambling, ironically it is illegal elsewhere in China, and the development of Las Vegas style resorts. Visitors from the affluent middle classes in China now flood off the mainland to enjoy everything the island resort has to offer.

 

Increasingly international gaming companies are looking to new emerging markets in Asia as areas of potential investment. Even with established gambling in South Korea, Russia, Taiwan and Sri Lanka, there is still opportunity for significant expansion elsewhere in Asia.  The trend is reflected with online activity with online casinos like M88 Cacuoc already beginning to dominate the market.

 

As Myanmar emerges from its isolation, political chiefs are looking to catapult the country into the 21st century and lottery chief Thien Naing is planning to modernise the state run draw with a view to doubling the $2m a month that is contributed to the national budget.

 

In South Korea, gambling is seen as something to be targeted if it brings currency to the country. A foreigner’s only $805 million resort has been proposed for the shores of Yeongjong Island by the Lippo Group and Caesars Entertainment in consortium.

 

In what is set to become a hot potato on the international political scene, the Russian authorities are set to declare Crimea a special administrative region (Macau style) with generous tax breaks. Restrictions on gambling are also promised with the crearion of a new gambling zone and invitations for proposals (by 15th April) are invited by Deputy Prime Minister Dmitry Kozak.

 

 

Alongside all of this expansion in the market goes the concerns about the damaging football betting scams that have been appearing in recent months. The gambling problems have now involved Cambodia. Just recently, police in capital city Phnom Penh have arrested 15 nationals suspected of running an online football gambling con.

 

 

 

 

 

 

 

 

 

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