The Philippines Rises As Asia’s Casino Capital

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The gambling industry in gambling meccas is slowing down because of many factors. The rise of online casinos is competing with the influence of land-based gambling. Experts believe that online gambling will surpass traditional casinos in the future.

Casino gambling remains one of the most popular entertainments in Asia. The region has a long history of gambling, and it is part of many Asian nations’ cultures. Many Asian nations allowed the operations of casinos. The industry contributed to many countries’ growth since it provides tax revenue and job opportunities for the people. The Philippines is one of the nations with the most active casino industry. Gambling facilities are spread across the country, showing the rich gambling culture of the nation.

Asia’s future casino gambling hub

Gambling in the Philippines is part of its culture. Trade and colonization introduced gambling to Filipinos, and the hobby was passed on to generations. Cockfights and card games were the favorites in the Philippines.
Casino gambling rapidly spread across the country because of the love of the Filipino to gambling.

The Philippine government allowed casinos to operate because of the industry’s potential as a contributor to economic growth.

Some of the biggest names in the land-based casino industry have operations in Asia, and gamblers from all over Southeast Asia visit the Philippines and enjoy its casinos. Manila and Cebu host some of the best land-based casinos in the region.

The casinos in the country attracted people who wanted a fantastic casino experience. The best performers in the region perform in the casinos, which is added to the gambling facilities’ attractions.

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Right move to legalize gambling

The Philippines’s gambling industry is regulated by the Philippine Amusement and Gaming Corporation, a government-owned and controlled corporation. The regulating body’s sole purpose was to collect revenue for the country. Legalizing the casino industry is one of the best ways to collect funds.

The floating casino in Manila Bay, established in 1977, was the first legal casino in the country. However, the casino burned down after two years. The following years, small casinos operating in the country and privately-owned casinos, e-games cafés, and bingo shops were given licenses by 2007, and, ever since, the gambling industry saw massive growth.

Macau was the biggest competitor of casinos in the Philippines. However, it was found out that many Chinese nationals are visiting the country to gamble. China banned all gambling types in the mainland, and Macau was the only territory to allow casinos.

Online casinos hosted by the Philippines are popular in China, contributing $4.1 billion in revenue for the country. The figure increased exponentially within three years.

Online Gambling Market Growth & Trends

The global online gambling market size is expected to reach USD 153.6 billion by 2030, registering a CAGR of 11.7% from 2022 to 2030, according to a new report by Grand View Research, Inc. The growing consumer inclination toward betting apps and the introduction of the freemium model in online gambling are the major factors expected to drive market growth in the upcoming years.

The increased smartphone and internet penetration and easy access to casino gaming platforms is positively influencing the market statistics. Moreover, the availability of cost-effective betting applications is expected to favor the market growth over the forecast period. According to the data published by the New York state government, over 650,000 individual accounts were created on mobile betting apps in 2021.

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