The sports betting industry, particularly in Asia, is thriving and has become one of the most booming industries globally. There are many different sports that bettors may choose from, and they genuinely like making bets on their favorite athletes and competitions.
In addition, the industry has proven resilient in the face of economic downturns, as demonstrated during the 2019 pandemic.
With the industry’s continued growth and success, it is evident that the future of sports betting is bright, and punters can expect to have even better experiences.
If you are eager to know what the future holds for the Asian sports betting market, you can gain some valuable insights from the 24betting exchange platfrom experts.
Although there have been some significant games and tournaments, there is still much to look forward to in the coming years, and these experts can provide you with all the information you need to stay ahead of the game.
Betting in Asia
Betting on sports is a widely embraced leisure activity among Asian punters, presenting abundant avenues to score substantial payouts. This exciting activity is enjoyed by a significant number of people in the region.
Table created based on the experience of 24Betting platform experts and enthusiasts.
|Football||Popular in countries like India, Japan, South Korea, and Thailand||J1, Thai League 1, EPL, Ligue 1|
|Basketball||Popular in the Philippines, India, Vietnam, and the United States||PBA, VBA, NBA|
|Table Tennis||Immensely popular in Asia because of the successful Chinese ping pong leagues||Chinese ping pong leagues|
|Baseball||Instantly became popular in Asia after talented Asian baseball players||NPB, KBO|
|Horse Racing||Popular in the West, with Japan having a different way of conducting horse races||Ban’ei|
|Cricket||A central sport in Asian countries like Pakistan and India||PSL, IPL|
The rise of online sports betting platforms has made it more accessible and convenient for people to place bets on their favorite sports teams and players. Many Asian bookmakers offer a wide range of sports markets, including local and foreign leagues, which attract many punters.
What does the future hold for sports betting in Asia?
As per the 2023-2028 market overview, the Asia-Pacific online gambling and betting markets have witnessed substantial growth, with a size of USD 19.5 billion in 2022, and are expected to reach USD 37.5 billion by 2028 with a CAGR of 11.39% during this period.
Factors Contributing to the Growth:
- Improvement of mobile internet technology
- Legalized online platforms, exemplified by cricket in India
- Cashless transactions
- Customizable budgets
- Electronic devices
Sports betting covers most of the Asia-Pacific online gambling market share, with mobile devices dominating the online gambling sector.
During the Covid-19 lockdowns, online betting emerged as one of the fastest-growing sectors in India. With the closure of physical betting shops and the need for entertainment during the pandemic, many Indians turned to online betting platforms for their gambling needs.
As a result, the online betting market in India experienced significant growth during this period, with many companies reporting increased revenue and user engagement. The trend is expected to continue in the coming years as more Indians adopt digital technologies and online betting becomes more mainstream.
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