Are there any differences between the Asian and European online casino world?
Virtual casinos usually referred to as online casinos or internet casinos are virtual analogues of traditional (“real-store”) casinos that operate online. Players can play and bet casino games over the internet at online casinos, being one of the most popular kinds of online gambling. According to global gambling statistics, around 26% of the world’s population gambles. That equates to around 1.6 billion persons globally gambling, with 4.2 billion gambling at least once a year.
Online casino in different continents
The situation with online gambling differs from one continent to another, and different countries have different legal rules and situations on it.
If we look into the European online casino world, as stated by European Gaming and Betting Association (EGBA), Online gambling is a developing market in the EU, with gross gaming revenue (GGR) estimated to reach €29.3 billion in 2022 and similarly if we take a look on Asian online casino world, The Asia Pacific Online Gambling Market reached USD 15 billion in 2019 and is expected to grow at an annual rate of roughly 18 per cent by 2026.
While there is development in both the European and Asian online casino world yet, there are some differences in both continents.
Difference in legalities
If we talk about the legal status of both, In the sphere of gambling services, there is no sector-specific EU regulation. It is up to EU nations to organize their gambling services in whichever way they see fit, as long as they adhere to the basic freedoms enshrined under the Treaty on the Functioning of the European Union (TFEU), stated by the European Court of Justice.
Casino gambling is still generally prohibited in Asia, with the exception of Macau, Singapore, and, more recently, Vietnam, where it is permitted under strict circumstances. Residents in such countries are permitted to play in casinos, but various rules are in place to limit the amount of gambling and to prevent gambling addictions from developing. There are also different resorts in countries that include casinos like Vietnam or Japan. Just to have knowledge, there is an availability of numerous online gambling Sites in Thailand, China, India, etc so that you can play online casinos easily.
Internet gambling and casinos are allowed in most European nations. On the other hand, In Asian countries, the opposite is true. Although governments in Asian nations are putting a huge effort into prohibiting internet gambling and rigorously tracking down anyone who breaches the law, it has been mostly ineffective. Despite the fact that Macau has shut down 97 unlawful gambling websites, the illegal gambling business remains massive. By this metric, the illegal gaming market in Asia dwarfs the legal gambling industry in Europe. This measures how much profit a legal gaming business in Asia might generate.
Due to the presence of more rules and regulations and the illegal market of casinos in Asian countries, one has to be more careful while engaging in it than the European nations. Gambling tendencies in Europe are identical to those in the United States due to the legality that prevails over there.