Asian markets are weighing up online gambling options

Gaming Asia quotes Global Betting and Gaming Consultants estimates that internet gambling in Singapore will grow from us$ 342 million in 2012 to us$ 519 million by 2017. Yet despite this strong growth, current gambling laws in the country make no specific mention of the online genre, creating an uncertain legal “grey area” that needs to be addressed.

The Singapore government is approaching the issue in a cautious, professional manner, and has called for a study by year-end before moving forward. Meanwhile a large number of offshore online casino and sports betting operators continue to access a very keen and willing market.

In Thailand, gambling is restricted, with wagering only permitted through the state lottery or at the Royal Bangkok Sports Club in terms of a law passed in 1935.

The government of Prime Minister Yingluck Shinawatra proposed reforms in parliament two years ago, hoping to modernise and broaden the country’s gambling laws, but various elements of its proposal have triggered stiff political opposition.

In the meantime, a massive underground gambling market – currently estimated at us$ 3.3 billion – has developed to service growing public demand for betting opportunities.