Strong growth predicted for Asia-Pacific gambling market says Mordor report

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A recent report by Mordor Intelligence predicts strong growth for the Asia-Pacific gambling market, with a Compound Annual Growth Rate (CAGR) exceeding 6 percent from 2024 to 2029. The report highlights that this growth will be driven by casinos in key regions like Macau, Singapore, and the Philippines.

Asia Gaming Brief covered the report which mentions that the Asia-Pacific gambling market, including both online and offline sectors, like the revenues generated in live casino, Baccarat, blackjack, poker, slots, and other casino games. The report estimated that the sector witnessed $2.02 billion in revenue in 2023.

Despite challenges faced by land-based casinos due to COVID-19, the online sector progressed, driven by increased engagement in mobile gaming, internet gambling, and online betting.

The ease of access to online gambling services, facilitated by widespread mobile phone usage and internet availability, has led to participation, especially in high-stakes mobile betting, with Asia leading the trend.

The report mentioned that “Online gambling services have become easily accessible due to the proliferation of mobile phones, the Internet, and convenient online payment gateways. Notably, Asia leads in high-stakes online gambling, with a substantial 71.6 percent of players favouring mobile betting.”

The report also points out regulatory changes across Asia-Pacific countries, legalizing online gambling and ensuring player safety, as key factors boosting market growth. Additionally, advancements in technologies like Virtual Reality (VR) and Augmented Reality (AR) are enhancing the online gambling experience.

Highlighting India as an example, the report suggests that the Indian online gaming industry alone could reach $4.6 billion by 2026. Despite ongoing challenges, the Asia-Pacific casino gambling market is viewed as dynamic, with the online sector emerging as a driver of growth.