In his latest analysis, iGaming industry consultant Ron Mendelson, Fast Offshore, explores the booming Asian online gambling market and why the Anjouan license is emerging as a preferred choice for those eyeing growth in the region.
The global iGaming industry has witnessed unprecedented growth in recent years, fueled by a combination of factors such as increasing smartphone penetration, improved internet access, a burgeoning middle class with greater disposable income, and a growing acceptance of online entertainment.
Among the regions experiencing substantial growth in the iGaming sector, Asia stands out as a powerhouse. More and more operators are looking to expand into the region, but to do this, they need the right license. Anjouan is emerging as a leading choice for many, and this is why.
The iGaming industry, encompassing online sports betting, casino gaming, esports betting, and live casinos, has seen remarkable growth worldwide. The current global value of the online gambling sector is hovering just under the $100 billion mark, but this is set to surge over the next decade. As for Asia, in 2023, the value of the industry on the continent is expected to surpass $17 billion, meaning it is too lucrative to ignore.
So what is driving growth in Asia?
Betting and Esports: Betting on sports events and esports tournaments has become a global phenomenon and is particularly popular in Asia. The excitement and opportunities for wagering on events like the FIFA World Cup or major esports tournaments like League of Legends Worlds Championship attract millions of enthusiasts across the continent.
Live Casino: The emergence of live casino games, where players can interact with real dealers via video streaming, has revolutionized online gambling. This immersive experience has attracted a significant player base in Asia and it continues to be a leading vertical.
Smartphone Penetration: The widespread availability and affordability of smartphones in Asia have made iGaming accessible to a broader audience. Mobile apps and responsive websites allow users to enjoy their favorite games on the go. Asia is home to many of the world’s smartphone manufacturers so it makes sense they are immensely popular.
Internet Access: As internet infrastructure improves and becomes more widespread, more people can participate in online gaming activities. This accessibility is a key driver of growth in Asia with millions more coming online every year.
Growing Middle Class: A burgeoning middle class in many countries, particularly in Asia, has led to increased disposable income. This demographic shift has resulted in more consumers engaging in recreational activities like iGaming. This will continue to grow over the coming years as more people transition into the middle class.
Acceptance of iGaming: Societal attitudes toward online gambling have shifted, with many countries legalizing and regulating the industry. This has reduced the stigma associated with iGaming and encouraged its adoption. While there are still restrictions in many Asian countries, at a social level, there are calls for change.
Demand for Online Entertainment: The demand for online entertainment, especially during the COVID-19 pandemic, has further propelled the iGaming sector. Many people turned to online gaming for entertainment and social interaction, particularly in Asia. Those living in Asia love technology, particularly as a form of entertainment.
Asia has emerged as a hotbed for iGaming growth. The region's iGaming market has exhibited remarkable expansion, driven by factors unique to the continent.
Esports Craze: Asia is at the forefront of the global esports industry. Countries like China and South Korea have produced world-class esports teams and players. The popularity of esports betting is soaring, attracting a tech-savvy, younger audience.
Mobile Gaming Dominance: Asia is home to a vast mobile gaming market, making it a natural fit for iGaming. Smartphone penetration rates are among the highest in the world, allowing easy access to gaming apps.
Operating in the iGaming industry without the proper license is a risky endeavor. Obtaining a license offers several critical advantages to operators:
Legal Compliance: Operating with a valid license ensures that operators are compliant with local and international laws and regulations. This reduces the risk of legal consequences.
Consumer Trust: A licensed operator is more likely to gain the trust of customers. Players feel more secure knowing that their gaming experience is conducted in a regulated environment.
Market Access: A license allows operators to enter and operate in regulated markets, providing access to a broader customer base.
Reputation: A license enhances an operator's reputation in the industry, attracting more players and partners.
Anjouan, a small island in the Indian Ocean, has recently streamlined its licensing processes, positioning itself as a leader for iGaming operators seeking a foothold in Asia. Anjouan's licensing authority provides several benefits:
Regulatory Transparency: Anjouan offers a clear and transparent regulatory framework, providing operators with a predictable and stable business environment.
Cost-Effective Licensing: Compared to some other jurisdictions, Anjouan offers cost-effective licensing options, making it an attractive choice for startups and established operators alike.
Rapid Approval Process: Anjouan boasts a swift approval process, allowing operators to launch their platforms quickly and capitalize on market opportunities.
Asia-Centric Focus: With a strategic location in the Indian Ocean, Anjouan is well-positioned to serve as a gateway to the booming Asian iGaming market.
For operators looking to capitalize on the incredible growth of the iGaming industry in Asia and beyond, Fast Offshore stands as the perfect partner. With extensive experience in assisting iGaming companies, Fast Offshore offers a comprehensive suite of services, including licensing, incorporation, compliance, and payment processing solutions. Our expertise and commitment to regulatory compliance make them the ideal partner for navigating the complex iGaming landscape.
Teaming up with a reputable partner like Fast Offshore is the key to unlocking the potential of this burgeoning industry. Don't miss out on the iGaming revolution in Asia; take the first step today by contacting Fast Offshore and securing your place in this dynamic sector.