2 minute read

There is no “Asia”

Regular Gambling Insider contributor Alex

Philippines

Thinking about iGaming in Asia? Of course you are. How could you not? Look at the demographics: long term, “Asia” is where the world’s population will be. And it’ll be a mobile-connected generation, like their Generation X parents.

But look again at the demographics: you’ll see declines in the population of the next generation in Asian strongholds – and GDP leaders – of Japan, South Korea and China. You’ll also see significant uplift in the populations of India, Indonesia, the Philippines and Malaysia where “generation alpha” will come of age.

Because there is “no Asia.” Filipino food is not Vietnamese food, which is not Thai food, which is not Malaysian food (although they still argue about where “satay” originated). Not even close... If the way to “someone’s heart is through their stomach,” as the ancient adage goes, so too do these massively different cuisines reflect the highly localised nature of these markets.

“Indians don’t play slots,” Bhavesh Parthi, MD of Oppa Asia said recently at the ASEAN Gaming Summit in March (2023) in Manila. There is some truth in that: today’s largely male-dominated Indian iGaming market prefers live dealers. But give it time (and a few

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sites dedicated to slots for Indian women)… Meanwhile, a highly successful regulated slots supplier supposedly sees 40% of its revenue from Indonesia! Although all data from black/grey markets and privately held companies must be taken with a grain of salt (or a spoonful of fish oil)…

Between the dominance of “fishing games,” virtually unknown in the West (but great fun for Gen-Xers used to “first person shooter” games once you get the hang of it), the necessary “pachinko slots” for Japan and Evolution’s innovations in baccarat (its Lightning Roulette is the only online roulette to play anywhere – and now its Golden Wealth Baccarat applies a similar additional layer of random luck to this hugely popular game), you’ll see different games and formats appeal in different regions.

Again, there is no “Asia.” There are a dozen or so countries with rapidly growing populations, increasing ecommerce reliance, better connectivity and a growing middle class with disposables incomes that, when factored against the cost of living, rivals Western economies with its iGaming potential.

They are cash-based, but cash online through their local wallet, for example G-Cash in the Philippines. They don’t (yet) have extended credit facilities. So fast payouts are even more essential – that (often relatively small) slots win is Friday’s beerfest for your player.

Yes, there are also credit-card-carrying VIPs betting millions in their local currency, but unlike Western markets where the 20/80 (or 10/90 even) ratio rules, in these markets there are low-value high-volume markets where penny slots are more important than baccarat (just like they still are in Vegas!).

So, just like you have to deal today with newly regulated individual markets across Europe and North America, so too must you get the necessary local knowledge of these up-and-coming but disparate markets. They are all worth your attention – and all worth a visit. All have a great local culture and cuisine to experience, plus there’s always a McDonalds, Starbucks or Pizza Hut somewhere nearby if you need it. Along with a whole heap of iGaming potential…

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