M
mrsam
Guest
If you thought that going to Las Vegas isn't something that you would want to do time and again, don't worry - online gaming is on the rise. It isn't just about traditional markets like U.K. and U.S. we are talking about here, online gaming is far more popular today than just that.
In newer markets like Kenya and Nigeria, online gaming including sports betting and online slots have caught on quite a fancy among the youth, with many trying their luck on what they like - right from the comfort of their home!
Infact, there are new players that are coming into Nigerian markets seeing the boost in popularity there - names like Betway and Jackpot Grand are known to all casino enthusiasts there. Casino lovers try out different games, including blackjack, roulette and the favorite of all - slots.
Understanding the Growth
The online gaming industry has progressed massively in the last few years. With the advancement in technology and greater access to high-speed internet worldwide, the online gaming industry received a boost even outside the popular markets of America and Europe.
Previously, Asia and Africa were not considered to be lucrative for the gaming industry, but recent years have shown that even the Asian and African youth have become interested in the world of online gaming after the smartphone revolution.
Moreover, it is only in the last few years that these countries got to taste the high-speed 4G network which makes online lives so much easier. With the highest population among all the other continents, Asia and Africa are demographics that can completely change the face of an industry.
The Asia Pacific Market:
According to a Research and Markets survey that was published in June 2017, the Asia Pacific region would see a massive growth of CAGR of 7.31% in the gambling market during 2017-21.
Previously, Macau was considered as the gaming hub of Asians. With the best gaming centers and casinos, it was the prime attraction for new gamers. Now, even Singapore, Kuala Lumpur, and South Korea have begun developing their online gaming industries with the help of alternative cash. Virtual money played a major role in making online gaming a popular choice among Asians.
The South Asian countries, namely Malaysia, Indonesia, and Vietnam, are not far behind because the increasing disposable income helps the online gaming industry gain more impetus. People love to play games like the Lucky Nugget online slots - where you can win in real time!
People from small-income groups are also becoming interested in online gaming, and that is creating a problem. Moreover, the non-legalization of gambling, that too online, is restricting the expansion of the online gaming industry in Asia.
The American government has decided to legalize sports betting, and that can be the beginning of more such efforts across the world. The major Asian countries will hopefully relax the strict regulations soon.
If one is to go by the TMR Analysis in 2015, the Asia Pacific region produced the second highest revenue in online gambling only next to Europe. China has also created a committee to legalize online gaming like online casinos, lottery and sports betting on Hainan island.
Africa:
The African online gaming industry is growing exponentially especially with online gambling becoming very popular. According to research conducted by PricewaterhouseCoopers, Kenya, Nigeria, and South Africa are responding the most to the temptation of online gaming. Smartphones have played a very important role in online gambling having such an influence of Kenya. A report published by the Digital Skills Observatory states that almost 33% of people in Kenya play games on their smartphones.
It seems like the entire world is becoming a part of the shift to online gaming from traditional gaming. This same report also predicts that Kenya would see a 142% revenue growth in the betting industry in between 2014 and 2020. There are limited payment options still, but that is a problem that can be easily overcome in the near future.
In newer markets like Kenya and Nigeria, online gaming including sports betting and online slots have caught on quite a fancy among the youth, with many trying their luck on what they like - right from the comfort of their home!
Infact, there are new players that are coming into Nigerian markets seeing the boost in popularity there - names like Betway and Jackpot Grand are known to all casino enthusiasts there. Casino lovers try out different games, including blackjack, roulette and the favorite of all - slots.
Understanding the Growth
The online gaming industry has progressed massively in the last few years. With the advancement in technology and greater access to high-speed internet worldwide, the online gaming industry received a boost even outside the popular markets of America and Europe.
Previously, Asia and Africa were not considered to be lucrative for the gaming industry, but recent years have shown that even the Asian and African youth have become interested in the world of online gaming after the smartphone revolution.
Moreover, it is only in the last few years that these countries got to taste the high-speed 4G network which makes online lives so much easier. With the highest population among all the other continents, Asia and Africa are demographics that can completely change the face of an industry.
The Asia Pacific Market:
According to a Research and Markets survey that was published in June 2017, the Asia Pacific region would see a massive growth of CAGR of 7.31% in the gambling market during 2017-21.
Previously, Macau was considered as the gaming hub of Asians. With the best gaming centers and casinos, it was the prime attraction for new gamers. Now, even Singapore, Kuala Lumpur, and South Korea have begun developing their online gaming industries with the help of alternative cash. Virtual money played a major role in making online gaming a popular choice among Asians.
The South Asian countries, namely Malaysia, Indonesia, and Vietnam, are not far behind because the increasing disposable income helps the online gaming industry gain more impetus. People love to play games like the Lucky Nugget online slots - where you can win in real time!
People from small-income groups are also becoming interested in online gaming, and that is creating a problem. Moreover, the non-legalization of gambling, that too online, is restricting the expansion of the online gaming industry in Asia.
The American government has decided to legalize sports betting, and that can be the beginning of more such efforts across the world. The major Asian countries will hopefully relax the strict regulations soon.
If one is to go by the TMR Analysis in 2015, the Asia Pacific region produced the second highest revenue in online gambling only next to Europe. China has also created a committee to legalize online gaming like online casinos, lottery and sports betting on Hainan island.
Africa:
The African online gaming industry is growing exponentially especially with online gambling becoming very popular. According to research conducted by PricewaterhouseCoopers, Kenya, Nigeria, and South Africa are responding the most to the temptation of online gaming. Smartphones have played a very important role in online gambling having such an influence of Kenya. A report published by the Digital Skills Observatory states that almost 33% of people in Kenya play games on their smartphones.
It seems like the entire world is becoming a part of the shift to online gaming from traditional gaming. This same report also predicts that Kenya would see a 142% revenue growth in the betting industry in between 2014 and 2020. There are limited payment options still, but that is a problem that can be easily overcome in the near future.
