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Month: September 2020

Southeast Asia’s Online Gaming Is Booming

Sep 13, 2020 by Markéta Kvapilová Gambling

A Casino in Macau

 

Asia is the largest continent in the world. It’s also the most populated and it is not surprising that the gaming market there is also among the biggest.

Most of us know about the on-land casinos in the area, particularly those in Singapore, Malaysia, and Cambodia. But, there is a new fad that is dominating the gaming market in southeastern Asia. Online casinos are rising for some time now. Here’s everything we understand about it:

Online Vs On-Land Casinos

Southeast Asia is famous for being among the principal areas in the world where folks go to bet. We have got Singapore among the world leaders in gaming revenue. And not to mention, that the Philippines using a forecast of more than a 9.0% increase in gross gambling revenue. That is besides all the casinos and hotels all around the region.

But the same countries with a thriving gaming industry have voiced their fears of being jeopardized by the growth of online gaming. As stated by the ASEAN Post, “The Philippines reported that growth in earnings from gaming in the nation has come from overseas gaming operators.” So, as you can see, the internet gaming business has been climbing to the extent that it may pose a danger to on-land gaming activities.

We Owe It to Technology

Experts devote the changing gambling trends to a rise in the usage of technologies. Since 2017, Indonesia has been recording an increase in its own smartphone marketplace. It is considered the fastest smartphone marketplace in the area. Along with this, Malaysia is currently preparing to use 5G. The rise in the need for casino online in Malaysia may be delegated to these variables combined.

People today find it far more suitable to play casino games. As it has been shown by the increase in XE88 game download on the internet. And with a greater cellular rate, it makes it far more enjoyable also. How can Indonesia associate to Malaysia, you might ask.

Indonesia is only a neighboring country. Meaning trading costs between both countries are not that pricey. This implies powerful trade relations. Additionally, it is nothing like the market for smartphones in Malaysia is not already flourishing.

The Role of Regulations

Another element that accounts for the boom of internet casinos would be the regulations in the area. First off, despite being a huge population of players, China still prohibits most gambling activities. This pushes the Chinese people towards online gaming. It is where nations such as the Philippines welcome them with bonuses and incentives. While gambling is illegal in some Asian nations, most governments do not block gaming sites. Meaning, it is a whole lot simpler to gamble on the internet than in real life.

Conclusion

An increasing number of folks are discovering their way to online casinos. Rather than going to places where betting is acceptable, many folks living in southeast Asia would rather go into the net when they are in the mood to have any fun. Additionally, in the internet gaming industry, demand for smartphones is moving through the roof in these areas. It clarifies the boom is that extreme.

 

ALSO READ: Chinese Gambling Activities Expanded To Southeast Asian Countries

 

Online Gambling – Its Economic Benefits

Sep 12, 2020 the_title_attributes , , , , , , by Věra Dohnalová Economy

One of the largest markets and industries today in the globe is online gambling. In an economy wherein many struggle and effort because of many economic uncertainties, online casinos and online sports betting are doing quite well and continue to grow.

For instance, https://www.sbo360.com, has been up and running for over a decade now with a professional and excellent service structure that has earned them the trust and loyalty of many of its members. And to maintain this trust and loyalty as well as draw in more players, it continues to develop and better its products and services for a more engaging and safe gambling environment.

Although gambling in general don’t always get a good publicity, people, other industries as well as governments cannot change or disregard the fact the online gambling is quickly growing and may not even stop as well. And with this growth, there is no denying that both the local and global economy benefit from it.

Online Gambling – When Does A Country Benefit From It?

Indeed, one of the major and biggest advantages of online gambling and online sports betting is its economic benefits. When a nation offers online gambling platforms that are legalized as well as regulated by the state, it could yield a large amount of revenue through levies and taxes. Moreover, online gambling could also create jobs that are specialized and unique to online gambling, and produce huge revenue or income for the state. These would bring about the local economy a substantial boost.

With the immeasurable transformation and growth of the industry of online gambling has truly had an immense economic impact on people, communities as well as their respective areas or provinces.

Hence, it is imperative to take note that an area or a province could only economically benefit from online gambling, land-based casinos as well as sports betting when the activity is legalized and regulated in that area allowing its residents to support and engage in these gambling channels. When and if players play on illegal, unlicensed and offshore gambling websites, their own local and national government do not benefit or profit as the money of their residents are directed out of the local and national economy.

Revenue From Online Gambling – Putting It To Good Use

When gambling, both online and offline, is legalized in a country, the government create or have specific laws and regulations to support and protect players as well as impose the necessary taxes. In this way, revenue is generated and this revenue could in turn  be utilized to aid the local economies.  The generated revenue from state-regulated online gambling websites could do so much for local communities, including the enhancement of public services wherein taxes are utilized for road improvements, youth programs, healthcare, infrastructure, housing, as well as other programs for the development of the community.

How Casinos and other Industries are Dealing with Covid-19 Pandemic?

Sep 11, 2020 by Karla Spěváčková Uncategorized

Land-based casinos are just among the businesses that have jumped with the airline industry that’s seeking emergency financial assistance from the Congress as Las Vegas and several other tourist spots have been hit hugely brought by the Covid-19 pandemic. But things a bit different for its online counterpart like 918kiss where it experienced a surge in activities for the past few months.

The aid requested for casino companies have been raised by lobbyists and may come in form of comprehensive bailout package like what lawmakers might offer to cruise companies, airline industry as well as the hospitality industry. Other possible options may include the following:

  • Deferred taxes
  • Direct cash payments or;
  • Special bankruptcy protection

As a matter of fact, a statement was issued to the Washington Post by the American Gaming Association saying that with 260 billion dollar industry closing to standstill, it will be requiring additional funds to be able to support casino companies as well as their staff.

As state governments are closing casinos as part of urgent health response of the public to Covid-19, elected leaders and policymakers must move as fast as possible in order to support businesses and workers alike who will be bearing the brunt of the impact of the pandemic. The immediate priorities will be focused on actions that will provide liquidity to support employees.

Even Big Businesses can’t Take it

The casino industry as a whole has been battered by the shutdowns brought by Covid-19, with the growing number of states that are demanding all casinos, bars and restaurants to close as soon as possible to be able to minimize crowds and reduce person-to-person contact. Casinos in Maryland and in the Atlantic City have been forced to shut down. Wynn Resorts have also announced that it will be closing its Wynn Encore and Las Vegas properties. MGM Resorts International on the other hand stated that it is going to close all of its casino operations in Las Vegas, which is followed by the shutdown of its hotels.

There are some casinos in the Las Vegas strip and also, across the country that keeps operating despite the CDC’s recommendation to be able to lower in-person contact.

Government’s Move

Trump administration has moved already to be able to help oil and gas industry by announcing its plan of buying oil for Strategic Petroleum Reserve to help buttress companies that were impacted by the downturn in energy prices. Officials in Trump administration have said as well that the administration will be pushing for special financial relief for hospitality, cruise and airline industries that took a big blow from Covid-19.

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