The advent of gambling resulted from the natural human urge to take risks. Modern laws may have put different countries in different spots regarding how they perceive the activity. But every adult loves to gamble as long as it’s in a controlled environment.
In this post, we’re taking 2 regions from 2 ends of the world to compare the sports betting landscapes. It’s Asia and America. Here at Asian Journal USA, we have betting expert Jimmy Daytona to help us dissect the matter.
The interesting thing is that Jimmy brought BetZillion’s recommended Asian betting sites with him to give you a head start after you’re done reading. He vets these sites for reliability.
Jimmy Daytona Explains the Similarities Between Asian and American Sports Betting Landscapes
The betting expert urges us to focus more on the similarities between the Asian and American sports betting landscapes. It aligns with our statement in the beginning about how sentiment is the same across the board.
Popular Sports to Bet On
No matter which part of the world you visit, you’ll find a few sports that get more traction than the rest. In that sense, Asian and American sports betting landscapes are very similar. But the actual sports they prefer are not the same.
For starters, Asian bettors prefer universally popular sports. At the same time, they have a soft corner for sports that are played more in the typical Asian climate. Some of these sports include:
- Football (soccer)
- Hockey (turf)
On the other hand, Americans are biased toward the sports they prefer. Of course, sports like basketball and MMA are popular in this region of the world too. The other sports they favor include:
- Ice Hockey
- American football
Use of Technology in Sports Betting
The “online” aspect of sports betting is heavily reliant on the use of technology. Whether it’s Asia or America, the technologies that go into making online betting possible are pretty much the same.
The commonly used technologies include smartphone apps, blockchain, live streaming API, online payment API, etc.
Growth of Online Sports Betting
In terms of growth, both the US and Asia have room to grow. Data shows that it’s Europe that’s leading the online gambling industry. The American landscape has been limited due to regulatory restrictions placed by governments hundreds of years ago.
And in Asia, gambling is still taboo in society. This narrow mindset of society, in general, has hampered the growth of the Asian sports betting landscape for the better part of the last century. Thankfully, it’s all changing very rapidly.
Presence of Illegal Sports Betting Operations
As unfortunate as it is, both Asia and America suffer from illegal gambling operations. It’s largely due to the strict laws that restrict humans from practicing this very natural urge to take risks.
Asian Journal USA Asks about Differences Between the Two Regions
Now that you know the similarities between Asian and American sports betting landscapes, Jimmy wants to move on to the differences.
Legalization and Regulations
The laws are vastly different between Asian countries and America. In recent years, the US has come a long way. They dissolved the PASPA Act, which was stopping sports betting from flourishing.
Cultural Differences in Sports Betting
Surely, culture plays a major role in how people inject money into the gambling industry. Being part of the first world, the American sports betting scene is much richer and more vibrant. The Asian scene, on the other hand, is quite reserved.
Market Size and Revenue
The market size for online gambling is massive in America. It’s sitting around $83 billion, according to 2022 statistics. In Asia, it’s a mere $6.7 billion.
Types of Bets Offered
The last difference Jimmy Daytona wants to cover is the types of bets. Asian bettors tend to go for niche markets like reverse betting, master ID betting, and whatnot. American bettors, however, prefer mainstream markets like outrights, match winners, over/under, etc.
Case Studies: Comparison of Sports Betting in Asia and America
When we say case studies, we’re referring to the most popular markets for sports betting in the corresponding regions.
The polarity is intense among countries. For example, sports betting is completely banned in Thailand, Indonesia, Nepal, Pakistan, etc. In Asia, the most vibrant sports betting culture can be witnessed in Singapore, Macau, the Philippines, etc.
The US states are slowly regulating the activity. As of now, around 20 states have legalized sports betting.
Challenges and Opportunities in Asia and American Sports Betting Scenes
Asia and America might be 7,000+ miles apart, but both regions face many challenges regarding online sports betting. At the same time, there is room for many opportunities to grow if these challenges can be overcome.
- Regulatory challenges such as an outright ban on sports betting should be re-considered.
- Modern technologies, blockchain, cryptocurrencies, and trustless systems must be implemented.
- The overall social stigma around gambling should be addressed in an objective way and should be embraced as part of human nature.
Here at Asian Journal USA, we’re grateful to the BetZillion expert Jimmy Daytona for outlining the similarities and differences between the sports betting landscapes of Asia and America. Both regions share many similarities like sentiment, choice of sports, use of technology, and overall growth.
At the same time, they share lots of challenges, such as social stigma, cultural nuances, and market size. But there is no way to deny that both regions have much room to grow in the coming years. All it needs is enough spotlight in mainstream media and a friendly outlook from the respective governments.
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