The Philippine Online Gambling Industry : Is It the Best that Asia Can Offer?

While Southeast Asian countries continue to ignore Asia’s ranking as the second largest gambling market, gambling remains illegal in their jurisdictions.

Being frontrunners in technological advancements, Southeast Asian countries like Singapore, Malaysia, Thailand and Indonesia can easily hurdle the technical challenges of regulating online gambling. Yet political will seems to be the primary factor that keeps these countries opposed to the legalization of gambling.

Can the Philippines Depict the Best Example of a Sustainable Online Gambling Industry

The Philippines can be cited as the best example of how online gambling helped a country alleviate economic stresses caused by the COVID-19 pandemic. Yet the country still lacks the political will in making the online gambling industry a truly sustainable source of revenue for the Philippine government.

Prior to the pandemic, lawmakers passed tax reforms that more than doubled the tax imposed on offshore online gambling operators — from a previous 2% to the present 5%. Moreover, the reform also modified the tax base, from the previous gambling receipts net of customers’ winnings, to the straightforward gross gambling receipts regardless if portions thereof were actually paid out to winning players.

As a result, there is an ongoing exodus of offshore online gambling operators who have cancelled their accreditations. The cancellations starkly reduced the projected tax revenues that the country expects to collect at the end of year 2020.

Moreover, the Philippine government’s approach in adopting online gambling as an industry is ambivalent. Philippine Offshore Online Gambling Operators or POGOs as they are commonly known in the country, operate only as legal gambling businesses that can deploy their online casino games and sportsbook in neighboring foreign countries.

They are actually the operators of the Judi Online casino and betting sites patronized by Southeast Asian gamblers. However, POGOs are forbidden to give Filipino players access to their remote gaming websites, whether residing within the country or abroad. Mainly because online gambling is likewise illegal in the Philippines.

Moreover, POGO operations if allowed in the country will compete with the high-end, land-based casinos. That would be to the detriment of several major international hotel and resort companies who invested billions; convinced that the Philippines will be the next gambling Mecca for junket tours catering to wealthy Asian gamblers.

While junket tours are generally regarded as legal, Philippine lawmakers have held Congressional hearings because they were not aware of how junket tours work and how they can be prevented from becoming part of money laundering operations. Since revenue generation was the more important issue, the Congressional inquiry about junket tours all too soon quickly died.

The Philippine government continues to keep cordial alliance with the governments of neighboring countries due to economic ties. Yet the Philippines’ online gambling industry still remains vulnerable if Southeast governments persist in adopting measures that will prevent POGOs from accessing their communication networks, be they publicly or privately operated.

At worst, said governments may even consider imposing sanctions that could result in economic loss that is much greater than the economic benefits gained by the Philippine government.

Legal And Licensed Online Gambling Platforms Aids The Economy

From the time when they were introduced to the online world, online casinos have since then continuously experienced development and growth in many aspects. While many still opt to visit a land-based casino, online casinos are increasingly becoming prevalent in many places across the world as many now benefit from the convenience it offers.

The Convenience of Online Gambling

Dafabet, for instance, is an online gambling company that is privately owned and is a flagship brand as well as a subsidiary of AsianBGE. It features In Play gaming to every player wherein they could have access to an extensive gamut of live markets from more than 5000 sporting events, such as the FIFA World Cup for soccer, the National BAsketball Association (NBA) for basketball, the Ultimate Fighting Championship (UFC) and many more major and minor sports events. Dafabet also offers its players the option to play various casino games like online slot games and poker.

Online gambling, which involves online casino and online sports betting in general, has become the go-to platform of many people around the globe as it provides convenience, availability of and accessibility to various wagering options. However, it too contributes to the growth of the economy. The online gambling industry yields billions annually and the economy does benefit from it, particularly if the activity is legalized by governments.

Legal and Licensed Online Gambling Platforms and the Economy

In countries wherein gambling is legal, the online gambling community flourishes. Because of the international standards imposed on online gambling, there are more rules and regulations for them to abide by as well as criteria to pass. Online casinos need to undergo an extremely hard process as well as pass stern regulations so as to be accepted and be given a license to operate. In doing so, this ensures that gameplays within that site remain fair, random, and isn’t manipulated by operators. As it is regulated by governments, fraudulent activities are prevented such as players being swindled and money laundering. Additionally, if they are legal and licensed, the government benefits from it through tax revenue hence helping the economy.

In regions where online gambling is prohibited or illegal, many disreputable gambling sites prosper as well. A lot of players are oblivious of the fact that there are dangers to engaging in and playing at unlicensed online gambling sites, wherein huge amounts of untaxed money could be taken from their players with them even knowing.

Always ensure to register and play at legal and licensed gambling sites. That way, you are certain that they have complied and passed the standards and criteria imposed by the government and proper licensing bodies, and be able to play confident of the fact that your details are secured and protected.

How Did The Slot Machine Make Its Way Into The Casino?

If there is one thing that can symbolize the casino, that would be the slot machine. Many newbies in the gambling business are getting hooked into this loud and colorful slot machine, as it gives the players a simple yet thrilling way to grow their money at hand. The rules of the slot machine are not that complicated compared to the other gaming machines at the casino, which is probably the reason why many people flock in front of the slot machines to increase their winnings.

Whoever came up with the idea of a slot machine truly was a genius, as this invention is being enjoyed by many generations. However, would you believe that the slot machine was not originally intended to be placed inside a casino? It is also not also intended to be made to satisfy the people’s gambling needs.

Whether your aim is to win more money or not, the slot machine truly serves its purpose: to bring us entertainment.

A Casino in Macau

The Origin Of The Slot Machine In The Late 19th Century

Based on reliable records, the precursor to the actual slot machine was not invented until the last years of the 19th century. In its prototype form, the slot machine was intended to be an arcade machine in which people visiting in bars would have something to spend their time while having fun. The New York-based gaming company Sittman and Pitt came up with the idea of a machine with 5 drums, all of them containing a total of 50 playing cards. In this case, this machine assumes the role of a person dealing cards. To play, you must insert a nickel and afterwards, you can pull the lever for the machine to deal the cards. In the event that the machine deals you with a lucky combination of poker hands, you will get a great payout.

The main difference between this early version of the slot machine and the one that we know today in casinos is that the latter readily gives out the winnings of the player. The prototype slot machine cannot not give the payouts automatically, so the player must go to the bar’s counter to collect his winnings. This is the same reason why many does not really recognize Sittman and Pitt’s creation as the first slot machine.

The Birth Of The Real Slot Machine

Further tweaks were made in the early version of the machine as bar owners believe that players could win easily. Thus, it was decided to remove 2 cards from the original 50 to increase the house edge. These 2 cards removed were the ten of spades and jack of hearts, which made sense since it would lower the chance of the player having a royal flush in his hand.

Fast forward to this day, the slot machine has evolved so much that it has become the center of attraction of a live casino.

 

 

The impact of the gambling industry on the economy

The idea of ​​legalizing gambling has been discussed recently although different gaming facilities are already permitted in some countries. Gambling is very profitable, but in some countries, it remains illegal, so that some people try their luck on the internet such as judi pkv games.

Many beginners who are not particularly well versed in the gambling business believe that the casino always wins because even the biggest jackpot can easily be covered by other players’ money. They believe that all casinos benefit from those who lose in the gaming facilities and that such people are the main source of income for casinos.

Countries where such entertainment is lawful

Las Vegas

There is probably no place as associated with games, casinos, chips, wealth, and lost fortune as Las Vegas, in the state and in the Nevada desert. Most of the world’s casinos are concentrated there. In addition, gambling is the city’s main source of income and creates well-paying jobs. The largest casino is the 7 square mile Stratosphere Las Vegas, which offers games to suit all tastes, including board games. There are also sweepstakes where you can bet on sports.

Las Vegas entertainment industry sales are estimated at $ 15 billion, while global sales are estimated at $ 140 billion per year. This of course includes a large part of the underground business. On average, one in 50 million tourists who visit the city annually spends $ 540 on gambling alone. In total, spending, including casino travel, can run up to $ 39 billion a year.

However, not everything is so optimistic. Casinos were also built in Atlantic City, New Jersey. It was the only one at the time, but it later appeared in Delaware, Pennsylvania, New York, and Maryland. As a result, winnings have plummeted since 2006 as the casinos are too close to each other.

Twin brothers: Monaco and Macau

Monaco and Macau are very similar – they are small areas close to large countries. However, Monaco is an independent principality while Macao is a semi-dependent area with its own wide autonomy, a former Portuguese colony.

Monaco is both a gambling center in Europe and Macau in Asia, paired with Singapore. Macau is the only place in China where you can gamble for money, but as more countries move closer to legalizing gambling, Macau’s economic growth could slow.

Money or life: Gambling can be addictive

Roulette, lottery, slot machines – gambling can be just as addicting as cocaine.

In the hunt for the jackpot, many fall by the wayside -financially, socially, and emotionally.

The colorful box flashes and rings, the reels spin hypnotically – wheels of fortune that decide on profit or loss, elation or disappointment. In the dim light of the gaming room, people stare spellbound at the viewing window of the slot machine. Most of them buy a coin for just a brief moment of suspense. For some, however, the game turns into a nightmare. Gambling is one of the most costly addictions and highly addictive that one can fall into.

Intoxicating effects of gambling

Gamblers doomed their hormones. Even a “near” win activates the reward system in the brain, it pours out more dopamine first, then endorphins. The messenger substances make you happy – and encourage the desire for “more”.

The disastrous advantage for gambling addicts – they can literally get their “stuff” in every corner bar with a slot machine, completely legally. Other ways to slip into gambling addiction are the lottery, state casinos or online gambling such as judi kartu online. Here the addict will find, for example, the popular online poker.

Men are more probable to yield to the charm

Whether someone has an increased propensity for gambling addiction depends on an interplay between personality and environment. Men, for example, are more often affected than women. Anyone who suffers from depression or anxiety disorder also slips into addiction more quickly. Neurobiological and genetic factors play a role. And last but not least, the origin: Young men with a migration background, for example, seem to be particularly at risk, according to a study.

Gradually into the dependency

The course of gambling addiction is always similar. First, a quick win fixes the soldier of fortune. The cash blessing from the machine suddenly appears as a real opportunity to get money. So the player continues to try his luck – and inevitably begins to lose. But instead of stopping now, he follows the internal pressure to at least recoup the lost money.

The Billion Dollar Online Casino Industry Is On

Online casinos like mega888 are by law, illegal in some parts of the world. It’s clear that providing gambling services online is not allowed, however, it is not clear if participating in these sites is allowed at some point. In Germany, however, this will be tolerated (for economic reasons?)

Are Online Casinos Legal?

The turning point happens almost silently after all these years, at least suspiciously quiet considering the importance of this key date. From this Thursday on, illegal online casino games will be tolerated in Germany for the first time. The supervisory authorities in the federal states will from now on no longer take action against providers of online slot machines, poker rounds and others, so long as they adhere to specific rules. The federal states agreed on this interim solution for the period up to summer 2021 in September .

The minister-presidents had previously agreed on a comprehensive reform of the German gambling laws and found a compromise with which gambling on the Internet should be legalized for the first time. Proponents hope to get a hitherto largely illegal black market under control. Because so far the virtual casino operators could write billions in sales undisturbed. Last Friday, surprisingly, 15 licenses for sports betting providers were awarded in a separate procedure.

The new State Treaty on Gaming was last examined by the EU Commission, then has to be passed by the state parliaments and is to apply from July 2021. Until then, providers of online games of chance should prove in a kind of practical test that they are complying with the new law in advance. In contrast to sports betting, licenses do not yet exist. If these licenses are issued at a later date, they should be given preferential treatment.

For those who want to take part in the somehow legal industry ought to satisfy numerous criterium so that the gaming authorities won’t bother them. The federal states have provided 30 points that are intended to guarantee player protection online. For example, players must be regularly informed of how much money they have won or lost. No player may deposit more than 1000 euros per month across all providers. Anyone who advertises for players with virtual machines must also be connected to a nationwide player blocking file. With the help of a “panic button” players should be able to lock themselves on every game website for 24 hours. Roulette and blackjack are taboo in the future.

The responsible online supervisory authority does not yet exist – so who controls?

In some supervisory authorities, there is great displeasure with the country compromise – because it was determined on a unstable legal grounds. Some officials fear that they may be guilty of fraudulent behavior in office if they do not continue to crack down on online casinos without a license. The State Treaty on Gambling will come into force next summer at the earliest; until then, the offers will actually remain illegal gambling, i.e. relevant under criminal law.

3 Deciding Factors for a Positive Gambling Experience

Do you consider yourself as a newbie in gambling? Would you like to try your luck or strategy in Gclub? Well to ensure that you are going to have a pleasant experience, see to it that you follow the tips discussed in this article.

Create a Budget

First and foremost, you have to thoroughly think of the amount you are willing to bet. In the world of betting, this is going to be your bankroll. After setting a budget, be sure that you stick to it and if ever you lose everything, don’t go beyond what you initially prepared. This is a sure-fire way to become broke and addicted to gambling.

Remember that being a newbie in this game, there is a high chance that you will lose. With this in mind, it is important that you risk the money you do not need or in other words, your spare. It is preferable to get started with small budget, this is regardless of your social class. After all, what is the point of having to risk big sum of money when you are currently trying to figure things out?

Finalize what to Bet

There’s a time when people can bet only on mainstream sporting events. But these are actually a thing of the past because betting options seem to be unlimited these days.

Betting sites and bookmakers are offering markets on almost every sport that you can think of. As a result, this enabled people to bet on practically every competition, tournament and league.

This is an important decision that should be made before commencing on betting. Of course, you can always change your mind but it is a great idea to come with a plan. An obvious thing that should be done is betting on any sports that you have grown interest on. Because most probably, these are the ones that you have deep knowledge about.

Consider Joining a Betting Site

There are a number other methods that you can do in placing bets on any sports event. Depending on the place where you live, you might be able to bet in bookmaking shop, casino sportsbook or over the phone. Well by far, the simplest way of doing your bet is through the internet.

As a matter of fact, online betting provides tons of benefits over other the given options. If you are a beginner, this is a great way of learning everything in the betting environment without feeling stressed out.

What Is The Significance Of Sports Betting In The International Economy?

Sports betting and online football betting are legal in many parts of the world including Australia and Western Europe with the UK’s largest legal market.

Sports betting is legal in many parts of the world including Australia and Western Europe with the UK’s largest legal market. However, the impact of illegal online gambling is much greater: there is an estimated $ 1.8 trillion in illegal wagering worldwide, mostly on unregulated and illegal betting websites. According to a study from 2014, over 80% of sports bets worldwide are placed on the black market.

Why Is It Illegal To Bet On Sports?

There are currently hundreds of bookmakers and apps that enable betting. This has led to an improvement in the current system. For example, the digital currency Electroneum is said to be used by online gambling services, while platforms like HEROcoin want to decentralize sports betting. Since sports betting usually has high fees, new platforms like HEROcoin offer peer-to-peer betting and transparency in the flow of money and payments.

Players betting on sporting events must pay a betting tax on their winnings. Therefore, sports betting has a significant impact on the international economy.

Legal sports betting makes $ 150 billion in profits in the US

In the US alone, illegal sports betting is valued at between $ 50 billion and $ 150 billion. By comparison, Nevada, the only state in the United States that permits sports betting, had sales of $ 4.8 billion in 2017. For comparison: Great Britain with 65 million inhabitants and a far less diverse sports market achieved sales of 20 billion US dollars in 2017. Worldwide, professional football and basketball are the most popular sports to be bet on.

Fantasy Sports versus Daily Fantasy Sports (DFS) versus Traditional Sports Betting

Both fantasy sports and traditional sports betting are popular forms of gambling. However, there are major differences. For one, fantasy sports betting is legal and in fantasy sports, your opponents are other human players and not bookmakers like in traditional sports betting. In fantasy sports, a group of human players called a league selects from real athletes to form imaginary teams. Points are awarded to the team based on each athlete’s performance during the season. To win, your team must have accumulated the most points during the entire season, which usually lasts a few months.

A popular fantasy sport is Daily Fantasy Sport (DFS). The DFS lasts for a day instead of a season. In the morning you bet on different players. While leagues in normal fantasy sports are usually made up of friends, with DFS you compete against random people with whom you are equal. The winning pot can reach millions of dollars.

What are the effects of the implementation of legal sports betting?

Legal sports betting would provide additional tax revenue based on income tax on winnings or as a consumption tax on casino revenue minus those winnings. The American Gaming Association has projected a law in 40 states that could generate $ 8 billion in local taxes, create hundreds of thousands of jobs, and increase GDP by $ 20 billion.

However, there will be many licensing, tax, and potential league requirements that need to be weeded out. In particular, states must also consider who should be taxed and what tax rate is appropriate.

Example Nevada: The current Nevada tax is 6.5% and the Pennsylvania tax is 34%. In New Jersey, sports betting in casinos and on racetracks will be taxed at 8% and online sports betting at 12%. States must also determine where they allow gambling and whether they allow online wagering. Another factor to consider is who to share the sales with, e.g. B. with sports leagues, individual teams, and bookmakers. ESPN conservatively estimates that by the end of 2019, eight or nine states will fully allow sports betting in casinos, on racetracks, and elsewhere. By the end of 2020, it could be 14 or 17. Both the NBA and the NFL have asked Congress to pass a federal law to standardize regulation.

The Rise In Online Gambling Raises Concerns In The UK Gambling Commission

The United Kingdom Gambling Commission (UKGC) recently unveiled a report that shows online gaming is on the rise, with the easing of measures to fight COVID-19. Gross gaming revenue for online betting increased by 115% for the period of May to June 2020. This is also in the account of online gambling providers like pussy888 who have seen a significant increase in registrations in the same period.

Slot machines recorded the highest individual losses among players, averaging £ 68 per player. Interactions between casinos and players increased by 12%. In such a context, the British Gambling Commission has introduced new directives which will have to be strictly applied by operators. The main ambition of the commission is to guarantee the protection of vulnerable players and to further promote responsible gambling.

The growth recorded in several gambling sectors

The products of online casinos have generated significant financial resources for the various operators during this post-containment period. The figures revealed in the United Kingdom Gambling Commission report are valid for the period from May to June 2020.

According to this report, slots games lasting over an hour fell from 2,085,023 to 1,987,121 for the month of June. This is a reduction of almost 5%. The same report also points to a one-minute drop in the average length of online slot game sessions.

The number of slot machine players increased by 1% during the month of May, while the losses of active players decreased by 10%. Slot stakes also fell by 5%.

The commission’s report also reveals that individual losses on slots are greater than those from other online games. For the month of June, a user lost an average of £ 37 on casino games, £ 54 on sports betting, and £ 68 on online slots.

We also note that during the period from May to June of the current year, interactions between casinos and users have increased by 12%. We went from 760.48 to 849,428.

Gross gaming revenue (GGY) for online sports betting is £ 217.5 million during the period May to June 2020. The growth rate is estimated to be 115%. According to experts from the commission, the amount of gross gaming revenue for the month of last June has a value significantly higher than that recorded before the confinement.

The regulator wants to prevent excessive gambling and promote responsible gambling

British players are therefore placing greater demands on online games, with the gradual lifting of measures to combat the coronavirus. This observation is made by the British Gaming Commission (UKGC). This situation worries the British authorities, who have decided to involve operators more in the protection of players and the strict monitoring of vulnerable users.

Several recommendations were made by the commission to guarantee responsible gambling. Operators must now:

  • Remove bonuses and all promotions from users who show signs of problem gambling;
  • Use permanent user monitoring tools in order to monitor their gambling behavior and identify those who have changed the number of their bets during their last gaming sessions;
  • Apply new limits to users, and set up additional alert systems;
  • Monitor users who have gaming sessions longer than an hour. The latter could show gambling problems;
  • Remove reverse withdrawal options for players with gambling problems;
  • Block games of vulnerable users, until verifications are made.

The Gambling Commission thus wishes to effectively prevent excessive gambling among users, especially among vulnerable players. It intends to do everything possible to reduce the risks of compulsive gambling and promote responsible gambling.

The Development of Online Gaming in Malaysia

Casino

Together with the growth of gaming, human behavior changed also. The debut of the net has influenced people’s everyday way of life. Additionally, it has influenced how people game.
 
Over the previous ten decades, gaming developed in three key types: online gaming, online casinos, and sports betting systems. Compared to classic gaming, the new era of betting has diminished potential risks on account of the lack of inherent obstacles. In most developed nations such as the UK and the US, online gaming is legal. The growth of the online bookies began from the 1990s after they found the potential of internet gaming.
 
Online casinos climbed to prominence in 1998. Yet, it was in 2008 that gaming legislation eased up. The law of casinos let it grow online. A growing number of people became receptive to the concept of gaming. Some people who wouldn’t game or put the foot at a land-based casino gets the chance to game in the privacy and comforts of their property.
 
According to Statista, the internet gaming sector was worth $20.51 billion in 2009. Its worth over doubled to up to $51.96 billion and is seen to grow to $59.79 billion by 2020. That is clear proof of how betting evolved with technological progress. Online gaming covers sports gaming, poker, blackjack, bingo, lotteries, and casinos. Among all games, casino games and sports betting take the greatest market share.
 
The Internet gaming market keeps growing as a result of these variables:
  • Growing cellular usage
  • Growing online accessibility
  • Shifting gaming customs
  • Economy consolidation
  • The comfort of gaming legislation
  • Acceptance of gaming behavior by the culture

The Way Mobile Gaming Programs Fuel the Rise of Betting

The cellular business is growing. A growing number of people are spending longer periods of time with their cell phones each day. 190 minutes daily is spent on phones and approximately 14.2% is spent on surfing and in-app browsing. The increase in tablets and smartphones also converts to mobile web use. New technologies bring a 12% boost in audience statistics, such as female viewers.
 
A large chunk of mobile net usage is from mobile gaming. The mobile gaming sector made an income of approximately $35.6 billion. It has gotten so popular that the mobile gaming sector was worth roughly $40.6 billion.
 
Studies show that mobile gaming apps provide users a simpler means of betting. Casino games are becoming more accessible, particularly for younger individuals. Most gaming apps offer real-like casino gaming. It is done by enabling punters to pay cash or use actual money in gaming.
 
 
The Apple App Store and Google Play Store feature up to 80% to 90% of the earnings from mobile gaming programs. The majority of the gaming revenue comes from Asia, followed by North America. As far as 160 million use their devices to take part in online gaming with up to $100 billion invested in gaming.
 
From the analysis by Gainsbury, Parke, and Suhonen in 2013, as far as 43% of gamers take part in online gaming. Roughly four times per week compared with 19.3% of gamers within casinos.
 
Mobile gaming platforms have been also favored over online casinos. As it provides punters real-time and dependable statistics to pick their stakes.
 

The Effects of Social Networking

Huge numbers of individuals use the web to get to social networking websites. Hours are spent on FB, tweeting on Twitter, uploading images onto Instagram and Snapchat. Betting businesses understand how to use this to their benefit. Businesses spend less on ads on these types of sought-after sites to attract visitors to their internet gaming sites. A huge part of this gaming promotion is through networking.
 

Are These Changes Affecting Malaysia’s gaming Landscape?

Malaysia is a varied nation with a rich history. It’s also a nation with a booming gaming market. Funny it might appear to some, the state only has one legal and official casino. It has contributed to its regional citizens’ restricted access and assortment. Due to the rising popularity and access to internet gaming sites, locals finally have thousands of gaming choices. People who would not dare enter the Casino de Genting can now play a vast assortment of casino games from the comforts of their residence. They also never need to think about the prying eyes of authorities who wish to meddle with their gaming activities.
 
Among the reasons Malaysians enjoy online gaming is they can play various types of casino games without prosecution. Players who know Mega888 download it as it is one of the best online gaming apps in Malaysia.
 
Lots of Malaysian poker players acquired their own craft by playing poker on the internet. They did not need to visit Casino de Genting only to get a taste of this activity. All their poker instruction approaches and methods have been learned on the web. They are now able to play tournaments since they’ve honed their skills by playing internet poker.
 
Through internet gaming, Malaysians discovered new and simpler means of gaming. They found different platforms in which they could develop their abilities. Not everybody in Malaysia has got the capacity to go into the casino. Some are restricted with all the travel time and availability of this lone casino from the nation. Online gaming additionally introduced and enabled the usage of credit and debit cards for playing with real cash. This is an extra advantage for people who don’t wish to earn huge quantities of cash when they’re betting.
 

Conclusion

Online gaming has affected the industry by getting more available and by altering the lifestyle of not only enthusiasts but also the younger generation. Online gaming has also shifted society’s understanding of gaming.
 

Southeast Asia’s Online Gaming Is Booming

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

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?

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.

The Role of Cryptocurrency In Asian Online Online Gambling

Cards chips, dices, and a computer mouse

 

The increasing popularity of internet casinos is a famous phenomenon globally. The digital casinos offer a range of benefits over their physical counterparts. So people cutting around demographics flock online gambling sites to earn money.

Taking a look at the growth of internet gaming, the numbers are very impressive in the Asia Pacific area.

Asia-Pacific: Fueling Development of Online Gambling

The enthusiasm for gambling originated from the west and then spread to other parts of the world. Asian internet gaming has grown in a massive way due to its population and economic pricing.

Take, for example. In China, people are much inclined to wager online even when betting in the nation is illegal. What brings Chinese people to take the dip are the cheap prices. Along this is the high number of choices that are available on the internet. Even the Philippines has licensed its internet Casinos via its economic zone supply.

The nation has the largest internet casino operations. It is under the Philippine Offshore Gambling Operators (POGO). It will be posting staggering rise and earnings figures from the online operations.

The development of online casinos in Malaysia is striking, though. Like China, there are limitations from various legal authorities on the operations of casinos.

Indonesia also has online poker sites like http://185.229.115.132/poker88/ which allows Indonesian players to play without worrying about being caught.

India, the planet’s second-largest population, has also seen enormous growth in internet casinos. Gaming in India is illegal. And there aren’t many countries that have provisions to get gambling legally

Growing IT infrastructure allows consumers to access via mobile devices and pc. This also helps promote internet gaming. Other nations like Singapore, Vietnam, and Thailand are positive towards online gaming. Although, many legislative and statutory requirements associated with betting differ in these nations.

 

ALSO READ: Common Mistakes in Setting Poker Game Goals

 

Role of Cryptocurrency

One of the issues with internet gaming is the withdrawal and deposit of money. This procedure can be quite one. It will be hard for players to manage money-related troubles. Especially in nations where online poker is prohibited.

This is where the importance of cryptocurrency enters the picture. Digital coins function on the principle of decentralized technologies. There is no third party interference. Digital currencies are outside of the jurisdiction of authorities and central banks.

Transacting with the electronic coins are not hindered by financial or banking institutions. Making it acceptable for internet gambling.

Now, the majority of internet casinos include digital money as a mode of payment. And this choice is emerging as the most well-known choice among online players. Payment using digital money also makes sure you don’t face any legal consequences.

Conclusion

Cryptocurrencies are playing a significant role in the growth of internet casinos worldwide. That role that makes casinos popular in the Asia Pacific is worth mentioning.

The changing situation makes matters simple for players in the next several years. Yes, the procedure will take its sweet time. But until that time, the aid of crypto will keep online gaming afloat.

 

Gambling Law: Differences between Germany, Russia and China

With the increasing popularity of online gambling, the question of the legal situation in different countries often arises. After all, many people want to play a round of slot games, roulette or agen judi slot terpercaya every now and then when they are on the move, for example when they are on a business trip. So how does gambling in Russia or China compare to Germany?

Gambling in Germany

Germany is a comparatively restrictive country when it comes to online gambling in general. So similar rules have been adopted as they also apply to casinos and real casinos. And they have always been relatively strict. It was only with the EU Equal Opportunities Act that the strict approach to online gambling began to falter a little. Because according to this law every citizen of the European Union is to be treated equally. In terms of gambling, this means that Germans themselves, although the laws in Germany are strict, must have access to other providers in the European Union.

Gambling in Russia

In Russia, the gambling situation is even more severe than in Germany. Basically, casinos are banned across Russia. This applies to both on-site casinos and casinos, as well as online casinos. The reason for the rigorous approach lies in the Russian government. This assumes that gambling addiction is a huge problem in Russia. However, there are some exceptions even in the largest country in the world. There are special administrative areas in Russia in which gambling is allowed. However, these are usually hundreds, if not thousands of kilometers away from the big cities.

Gambling in China

China is also relatively strict when it comes to online casinos. Like many other areas of the Internet, gambling is prohibited. This also includes cryptocurrencies, certain social networks, and other aspects of the online world. In 2020, the already strict law was tightened even further. Casinos and slot machines are prohibited, as are apps and games of chance that can be carried out on the Internet. The only exception is the island of Macao. This island is traditionally a gambling paradise. Many Chinese go there on vacation to indulge in their hobby, gambling.

Conclusion

In all of these three countries mentioned, the gambling laws are relatively strict, especially on the Internet. Germany is still the mildest exit here. But compared to many other countries in the European Union, the Federal Republic of Germany is generally relatively strict when it comes to gambling. But Russia and China are going one better. Online gambling is popular in all of these countries. This also applies to classic table games, slot games and jackpots, for example.