FOCUS 30
Kicking sports betting regulation over the finish line With two major events on the doorstep in the sports betting world, we take the chance in the focus section of this edition of Asia Gaming Briefings to examine some key trends in this growing gaming sphere.
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he 2018 FIFA World Cup will kick off in Russia next month and is expected to fuel a surge in gambling worldwide, both through legal and illegal channels. Within Russia itself, bookmakers are expecting monthly volumes to be 80-138 percent higher than usual. Though as we discuss in this focus series, Russia’s bookmakers fear they will lose out during the tournament, with bureaucratic red tape likely to deter punters. Although some changes to the law are in the works, the industry fears they will not be passed in time to capture the World Cup traffic. Despite the excitement of the tournament, there’s another date in the calendar that industry participants are waiting for that will have far wider repercussions. The U.S. Supreme Court is scheduled to rule before the end of June in a case that could result in sports betting being legalized for the first time in the U.S. The American Gaming Association estimates that the current illegal market there is worth some $150 billion. Some leading industry figures have postured that the legalization of sports betting in the U.S.
Asia Gaming Briefings | May 2018
will trigger a domino effect, with Asian countries likely to grind into action with their own regulation. Our first article in this series studies the likely spin off effect on Asia’s massive and booming market to examine whether these hopes are founded. We also look at the world of horse racing and how Asia’s key racing jurisdictions, Hong Kong, Korea and Japan, are moving to make their product more relevant to the younger generation. The HKJC is one of the most successful clubs in the world and has been introducing new technology and club-style lounges to increase its appeal. However, even here, the club faces challenges from rising illegal online gambling. And lastly we go to India, where a recent sports betting seminar discussed the possibility of potential legalisation of the giant untapped market. Illegal gambling there has been rife, coupled with highprofile match-fixing scandals among its revered cricket players. Proponents are arguing that a properly regulated and legal gambling industry would help generate revenue for the government and help to prevent further scandals.
