Asian players already make up over 25% of the global iGaming market. This figure is set to rise rapidly over the next 10 years as the market is growing at over 5.5% annually.
The region is undergoing significant economic development, leading to increased rates of internet penetration and smartphone usage. However, iGaming is being hampered by a lack of regulation, and certain countries like China have banned online casinos.
Baccarat Is the Table Game of Choice
While blackjack rules supreme in the US and Europeans flock to the roulette wheel, in Asia it’s all about baccarat. Asian players are drawn to the baccarat due to the low house edge, high betting limits, and the drama of the game. Bettors like to slowly squeeze their cards, adding to the anticipation.
If you’ve ever been to Macau, you won’t be surprised that baccarat is far more popular than blackjack among Asian online casinos. At Macau resorts, baccarat tables often outnumber blackjack ones 10 to 1!
Fish Games Are a Must When Operating in Asia
If you want to run a successful online casino in Asia, you need to offer fish games. This unique game originated in China in arcades, where you play on a tabletop and use a joystick and buttons to shoot at fish as they swim back and forth across the map. The more fish you eliminate, the more you win.
Fish games have now moved online and are incredibly popular among mobile players. This arcade game is interactive and has an engaging skill element, which is a big hit with Asian players.
The key to a successful fish game is well-designed underwater graphics with fast-paced action. The shooting mechanics need to be on point, and bonuses and special features need to be incorporated into the game. Some of the most popular fish games are KA Fish Hunter, Poseidon’s Secret, and Golden Dragon.
Payments Present a Challenge
In most Asian countries, online casinos are unregulated, and players flock to offshore sites. Local financial institutions often block transactions. Traditional payment methods like Visa, Mastercard, and bank transfer aren’t possible.
Asian financial institutions’ crackdown on online gambling transactions has led to a rise in crypto payments. The anonymity that cryptocurrencies provide and the ease with which you can move small and large sums of money around have made this payment method especially popular among Asian players. Up to 60% of Asian online gamblers use cryptocurrency.
Thanks to the rise of stablecoins like USDT, which are pegged to fiat currencies like the US dollar, players no longer need to worry about price movements. However, some players like the extra fun betting with a highly volatile brings. For example, a player could win $500 worth of DOGE and then watch as the price of token pumps and rises 40%, compounding their winnings.
Localization Is Key to Winning Market Share
International online casinos can’t expect a cookie-cutter approach to work in the Asian market. Research into local players’ expectations and preferences is required. Operators need to offer customer support in the local language and have local VIP hosts.
Other easy ways to adapt the site to the Asian market are offering bonuses on certain local holidays like Chinese New Year and providing popular games like Pai Gow, Andar Bahar, and baccarat. Many Asian players are still worried about the legitimacy of online casinos. Operators need to alleviate this concern and forge long-term relationships with players. If these relationships are formed, Asian players will be more loyal than Western users.
Regulatory Uncertainty Clouds the Industry
Asia is home to 48 countries, and each has their laws regarding iGaming. Some countries like the Philippines and Cambodia have legalized online casinos, while nations like China and Malaysia have strictly prohibited all forms of online betting.
In the vast majority of Asian countries, there are no laws regarding online gambling, and players gamble at internationally licensed sites, this is the current situation in India.
As Asian governments look for new ways to generate tax revenue and realize how much money is flowing out of the country, expect more countries to follow the US and UK’s lead and regulate industry. Within 20 years, we expect 50% of Asian countries to offer fully regulated online gambling.
Read more: The Role of Crypto in Online Gambling
