Asian iGaming Market Overview 2024

Asia stands as one of the fastest-growing markets in the iGaming industry. According to Statista, the Asia-Pacific iGaming market revenue was valued at approximately US$5.41 billion in 2023, with experts predicting it will reach US$7.51billion by 2029, growing at a compound annual growth rate (CAGR) of 5.63%.

With a population of 4.7 billion people (60% of the world population), the Asian region is one of the biggest in the iGaming industry. With a large number of players playing and betting online, it is a fast-paced area where tastes are always shifting. After all, we are constantly seeing new games and features tailored for the regions, further expanding the landscape of the iGaming sector in Asia and around the world. Today, Uplatform, as a dynamic platform provider in the region, will continue to adapt and innovate to meet the ever-evolving demands of this diverse market.

Factors Responsible for The Growing Popularity Of iGaming In Asia

The iGaming industry in Asia is growing at an incredible pace. To understand why this is happening, it's important to explore the main reasons behind this expansion:

Smartphone Adoption:

The widespread availability of affordable smartphones has enabled more gamblers and bettors to use their mobile devices. In 2023, there were more than 1.5 billion smartphone users in Asia, contributing to further accessibility of iGaming activities. This has made it easier for people to participate, leading to 75% of total online revenue for Asian operators coming from mobile channels by 2024.

Cultural Acceptance:

Changing societal attitudes towards the iGaming industry, particularly among younger generations, have led to a more open acceptance of this industry. Studies show that over 60% of individuals aged 18-35 in Asia view online gambling and betting as an acceptable form of entertainment. This cultural shift has contributed to the sector's rapid expansion, making it a significant component of the broader entertainment industry.

Cryptocurrency:

Cryptocurrencies have enhanced the security and privacy of transactions in iGaming, attracting tech-savvy players. While traditional payment methods are still widely accepted by major iGaming sites, cryptocurrencies are gradually replacing them due to their anonymity, lower transaction costs, global acceptance and instant withdrawal approvals. In 2023, the use of cryptocurrencies like Bitcoin and Ethereum for deposits and withdrawals on iGaming sites surged by 25%, reflecting a growing trust in digital currencies. This trend is expected to continue as more players seek secure and private transaction methods.

Most Popular Online Gambling And Betting Products In Asia

Sports Betting:

Various countries in Asia have unique conditions that shape the Asian sports betting market. In nations with a strong sports culture, such as India and Japan, the enthusiasm for sports and the desire to support favorite teams or players fuel the growing interest. Popular sports include cricket, basketball, UFC, badminton, Muay Thai, and football. To cater to these interests, we offer the largest sportsbook in the Asia-Pacific market, featuring over 200 sports, including Asian championships and leagues, even at the low-tier level, such as the South Korea K3 League. Our platform also covers a total of 1.5 million global pre-match and live events, with features like Multi-live bets, Bet Constructor, Bet Builder, and both popular and unique bet types, all integrated into an informative and convenient bet slip. Additionally, we offer a wide selection of odds on local leagues, local matches and events that are loved by Asian players. Our platform is designed to meet the specific preferences of the Asian online sports betting community, making it the ultimate destination for enthusiasts across the region.

Online Casinos:

Asian gamblers are increasingly attracted to online casinos due to their convenience and accessibility. They have access to a diverse selection of games, including live casino games with local dealers, baccarat, and mahjong, with baccarat holding particular cultural significance in many Asian countries. Game studios have also taken inspiration from popular Asian folklore and legends, creating slots that tell captivating stories through their gameplay. For example, games might be themed around mythical creatures like the dragon and phoenix or famous legends such as the Monkey King. Beyond slots, skill-based games like fishing and hunting are extremely popular. These games offer a unique blend of entertainment and challenge, appealing to those who enjoy testing their skills as much as their luck. With our Casino Aggregator offering, you can provide a comprehensive range of Asian-themed games to meet these demands and continuously expand your portfolio with over 16,500 casino games from more than 200 top international and local providers. This extensive selection ensures that players can access the best possible gaming experiences, tailored specifically to their tastes and cultural interests.

Esports:

With millions tuning in to watch tournaments and events, Esports has become a solid force in Asia's iGaming industry. The Asian markets contribute to 54 percent of worldwide Esports betting revenue, prompting operators to find more user-friendly ways for bettors to access and place bets on their favorite competitions. Uplatform acknowledges the rising popularity of Esports and offers betting software designed to build and expand a successful business. With Uplatform as a Esports betting provider you will access the most extensive Esports library, featuring popular bets on Call of Duty, DOTA 2, CS: GO, Valorant, WarCraft III, League of Legends, PUBG, and Rocket League. Bettors can enjoy unique betting options on tournaments like Rocket League Oceania & AORUS South Asia Cup, Mobile Legends MPL Philippines and MPL Indonesia, Arena of Valor, along with bets on specific gamer actions and many more.

Lotteries:

Asia is a diverse region with different regulations and cultural attitudes toward gambling. In some countries, gambling is heavily regulated, with strict laws governing both traditional and online lotteries. In contrast, other nations adopt a more relaxed approach, where participating in lotteries is seen as a socially acceptable form of gambling, with a long history of community involvement. Game developers have tapped into this cultural acceptance, offering players the excitement of potentially life-changing wins while maintaining the traditional appeal of the lottery. At Uplatform, we provide a broad selection of lottery games tailored to the preferences of the Asian market. Our platform provides a wide variety of options that cater to both traditional players and those seeking something new.

Poker:

There has been a meteoric surge in the number of people interested in playing poker online, particularly in nations like India that has a rich tradition in Rummy. While popular global variants like Texas Hold’em and Omaha continue to dominate the scene, the Asian poker landscape is also characterized by a strong preference for traditional online local games. For instance, Big 2 and Badugi have gained significant traction in various parts of the region, offering players a familiar yet exciting alternative to the more commonly known poker variations. Poker draws participants from all walks of life since quite often, it is supposed to be a pure game of skill, where success depends on the player’s ability to read opponents, calculate odds, and make informed decisions. On our platform, we ensure that operators have access to high-quality games, with features designed to enhance their players' enjoyment and sharpen their skills. Whether their players prefer the strategic depth of Hold’em or the unique challenge of Badugi, we provide a poker environment that caters to all tastes and skill levels.

Bingo:

Online bingo is also gaining popularity in the Asian iGaming market, especially in countries like Japan and the Philippines. Its growing popularity can be attributed to the game’s simplicity, variety of game types and innovative features that enhance the traditional Bingo experience. For example, Housie, also known as "Housie Bingo" or "Tambola", is a traditional Bingo variant widely played in several Asian countries, including India and the Philippines. Unlike more complex games, Bingo is easy to learn and play, making it accessible to a broad demographic, including both younger and older generations. At Uplatform, we cater to operators with online Housie games that bring the traditional experience into the digital age. Our Casino Aggregator offers seamless integration and engaging features which ensures that your players can enjoy this beloved game with all the conveniences of online play, whether they are longtime fans of Housie or new to the game, our online offerings provide an exciting and accessible way to enjoy this traditional Bingo variant.

Conclusion

The iGaming market in Asia is witnessing remarkable growth due to evolving player preferences, technological advancements, changing regulatory environments, and macroeconomic factors. The increasing adoption of smartphones and the rise of cryptocurrencies are transforming how people engage with iGaming. The convenience and accessibility of betting and gambling, combined with the wide variety of games and products available, cater to the preferences of Asian players, allowing them to enjoy their favorite casino games or place bets on sports events. As operators adapt to the diverse tastes and regulations of each Asian market, the iGaming industry is set to flourish, offering unparalleled entertainment to millions of players across the region. With the right strategies, the future of iGaming in Asia looks promising, brimming with opportunities for innovation and expansion.

Recognizing the immense potential of the Asian market, Uplatform is dedicated to providing content and services tailored to regional needs. Our strategy includes offering regionalized content and flexible localization solutions, alongside a comprehensive range of payment options to accommodate diverse financial preferences. To further enhance the experience for your players, we deliver extensive translation services in a variety of languages, including Bengali, Chinese, Hindi, Hong Kong Cantonese, Bahasa Indonesian, Japanese, Korean, Vietnamese, and Thai. Additionally, we cater to different betting preferences by offering a range of odds formats, such as Hong Kong, Indonesian, and Malay. By integrating these features, Uplatform enables operators to deliver cutting-edge iGaming experiences specifically designed to meet the unique demands of the Asian market.