Gambling Market in APAC 2017-2021
The gambling market in APAC is the hotbed of the entertainment sector. People worldwide enjoy visiting casinos in Macau, Singapore, and the Philippines as these casinos are considered to be the cost-effective alternatives for the more popular US casinos. Not only are these casinos famous for betting but are also known for providing its gamers world-class dining and hospitality experience. These destinations offer a lavish lifestyle to the gamers, which a very few in the world can match.
Technavio’s analysts forecast the gambling market in APAC to grow at a CAGR of 7.31% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the gambling market in APAC for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of lottery tickets, betting games, and casino games.Technavio's report, Gambling Market in APAC 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Gambling Market in APAC 2017-2021
Technavio recognizes the following companies as the key players in the gambling market in APAC: 888 Holdings, MGM Resorts, Sands China, and SJM Holdings.
Other Prominent Vendors in the market are: Bet365 Group, Betfair Group, INTRALOT, Lotto 365, QQ Lottery, Sports Toto Malaysia, Taobao, and William Hill.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is availability of cash alternative. In the global gambling market, money does not have to be the only rewards. It can also be given in the form of physical goods along with monetary benefits. A major trend in the market is the use of cash alternatives such as virtual money. In Australia, the online gambling market lets the players use virtual money, which has reduced the risks related to cash. Payment options required for online cash transactions and virtual money are implemented by various gambling vendors.”
According to the report, one of the major drivers for this market is rise in spending capability. The average per capita disposable income in developed countries cannot be accurately calculated because of the rise in the number of households with double income sources. This has led to a boost in the affordability of high-end products and spending capability of individuals, especially in developed countries. The increase in disposable incomes of the South Asian countries, such as Indonesia, Vietnam, and Malaysia, is expected to play a considerable role in propelling the market growth during the forecast period.
Further, the report states that one of the major factors hindering the growth of this market is growing addiction among low-income groups. One of the major factors for governments to be skeptical about legalizing gambling, especially online gambling in numerous countries, is due to the addictive behavior the game can invoke among the gamblers. These addicted players become prone to impulse control disorder, making them want to gamble more regularly and for higher stakes. By not legalizing online gambling, the governments are trying to control the reach of gambling games and addictive behavior, especially among the low-income population.
888 Holdings, MGM Resorts, Sands China, SJM Holdings, Bet365 Group, Betfair Group, INTRALOT, Lotto 365, QQ Lottery, Sports Toto Malaysia, Taobao, and William Hill.
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