The sports betting market is one of the most successful industries in the world, especially in Asia. There are a lot of sports to bet on, and punters enjoy placing wagers on their favourite teams and sports. In the past few years, the sports betting industry has proven to stand on its own regardless of any economic events like the 2019 pandemic.
There’s no doubt that the future of sports betting is bright and will continue to satisfy punters with the best experiences. Now that major games and tournaments have concluded, like the FIFA World Cup, there’s much to look forward to in the coming years regarding the sports betting industry.
If you want a sneak peek at what the future holds for the Asian sports betting market, below is everything you need to know about it:
What is sports betting in Asia?
Undoubtedly, the popularity of online sports betting in Asia will only grow as more people watch their favourite sports without restricting gambling. Aside from the economy, sport is a huge part of the culture in all countries. Asia is no exception, and there are specific sports that are more popular and have bigger market trends in some areas than others.
For instance, the Philippines is a country that loves to play basketball. As such, many promotions and local leagues exist to spread basketball culture nationwide. On the other hand, Thailand, which is a football-centric country, loves watching leagues like the English Premier League and its own Thai League 1.
When it comes to sports betting, Asia has it all the same as other continents around the world, especially after laws allowing sports betting were implemented. For example, Japan and Korea, being football nations, have a successful football betting market because that’s where the market flourishes the most.
How does online sports betting work in Asia?
As mentioned, sports betting evolved to catch up with the times and considering how the pandemic forced businesses to go online, the sports betting industry did too. Online sports betting in Asia is quite simple, especially with laptops and smartphones.
To ensure a superb wagering experience, find a licensed sportsbook such as BC.GAME. It is also best to read reviews, but you have to take into account some fake reviews to make it appear as if the site is worth your time and money.
Placing bets in an online bookmaker is easy. All a punter has to do is choose the payment method and add funds to their registered account.
Most sites will ask for your personal information like name and birthday, then will proceed with the payment options so you can start placing deposits. From there, you can browse through the different sports in a bookmaker that you want to bet on.
The state of the sports betting market in Asia
The sports betting Asian market is just as popular and profitable as in other countries. In fact, the market size of the sports betting industry in Asia grew to a whopping value of $21 billion in 2021.
The key countries contributing to this success and trend are huge sports betting nations like Singapore and South Korea. It helped when the legalisation of sports betting came to fruition, which caused a cascade of bookmaker sites to appear on the continent.
In a global sense, the sports betting market grew by 18% in late 2021, which is impressive considering the global pandemic hit just a year prior. With the bettors’ overreliance on technology, it’s expected that online sports betting in Asia will continue to grow.
In 2022, the market size revenue made a small dip of only $19.5 billion, but projections state that the market will reach a value of $37.5 billion mark by 2028. This exhibits a growth rate of 11.39% from 2023 to 2028.
Popular sports to bet on in Asia
There are a lot of popular sporting events in Asia, and placing a stake in them has become a popular pastime for most Asian punters. Aside from the enjoyable experience you will have, there are also a lot of opportunities to win huge payouts.
Below are the following popular sports you can bet on in Asian bookmakers:
- Football
Football, also known as soccer in the West, is popular in countries like Japan, South Korea, and Thailand. Its gameplay revolves around kicking the ball across a large field and scoring goals to win the game.
There are several leagues and tournaments to choose from regarding football. For starters, Asian leagues like the J1 and Thai League 1 are incredibly popular sports to bet on.
But that doesn’t mean foreign leagues aren’t popular as well. For instance, the United Kingdom’s English Premier League (EPL) is an immensely successful and famous football league with some of the best players representing the teams.
Football legends like Cristiano Ronaldo and Lionel Messi are also household names among the Asian betting community. Other prominent foreign leagues like the Ligue 1 is also popular betting ground for Asian punters who want to delve into different football leagues.
- Basketball
In terms of scale, basketball is overshadowed by other European and American sports. However, recent times made basketball one of the best and most profitable sports because of star players from across the globe.
While most famous in the Western world, like the United States, basketball is also incredibly popular in the Asian regions. The Philippines and Vietnam, in particular, are nations that heavily watch and play basketball daily.
These countries have basketball ingrained in their culture and have respective leagues that fans and punters regularly pay attention to. The Philippine Basketball Association (PBA) is a popular league where the best Filipino players compete and start their professional athletic careers.
On the other hand, the Vietnam Basketball Association (VBA) is the go-to league where Vietnamese punters and fans get together and have quality sports leisure. Just like football, it’s not to say that Asian punters and fans don’t want foreign basketball leagues.
The National Basketball Association (NBA) is considered the best basketball league in the world because that has some of the greatest players ever. Players like LeBron James, Kobe Bryant, and Kevin Durant have influenced the world so much that they made the NBA a popular league worldwide.
There’s no doubt that on top of their local basketball leagues, the NBA is a flourishing betting destination the Asian market is fully utilising. With rising basketball stars entering different leagues in Asia, the market will continue to grow and be successful as time goes on.
- Table tennis – Ping pong
Table tennis is considered an immensely popular sport in Asia because of the successful Chinese ping pong leagues. Some of the greatest table tennis players are mostly Chinese athletes, and they proudly represent the nation for their amazing skills.
The sport became famous back in the 80s because the Chinese government infrastructure was set to develop a Chinese Olympic ping pong team. They garnered the best players possible and won multiple gold medals from that point onwards.
Now, table tennis is played and loved by many Asian countries. With players like Ma Long, Zhang Jike, and Wang Liqin, it’s difficult to dismiss China as the best country for table tennis.
China and other Asian nations also love to bet on sports. With that in mind, ping pong evolved into one of the continent’s most exciting sports betting hubs and continues to dominate the Asia sports betting scene for years to come.
- Baseball
Baseball is one of many American sports that went over to other regions and instantly became a classically great game to play. After drawing inspiration from the great Babe Ruth and Derek Jeter, a lot of talented Asian baseball players have influenced the sport in the future as well.
One of the more prominent Asian baseball players is Ichiko Suzuki, who made it from the Nippon Professional Baseball Organisation (NPB) to Major League Baseball (MLB). This made Asia a popular betting ground for baseball punters, and it has since been growing into one of the more popular betting markets in the industry.
There are also other baseball leagues like South Korea’s Korea Baseball Organisation (KBO). With more prominent baseball leagues appearing in the Asian regions and the continuous growth of Asian baseball betting, the future is bright for the sport and its betting market.
- Horse racing
The first horse race ever recorded occurred in England in 1776, also known as St Leger. Following the success of the first horse race in history were different leagues and types of races that made horse racing a popular sport.
Among these leagues are the 1779 Oaks and 1780 Derby, which contributed to the success of the future of the sport as a whole. While indisputably more popular in the West, Asian punters grew fond of horse racing because of the payout potential they can win when betting on horses.
Japan, in particular, has a different way of conducting horse races compared to the conventional western traditions. In fact, Ban’ei is a Japanese horse racing format wherein horses have to pull a carriage or sledge up sand ramps, making the sport much more exciting and interesting to watch.
- Cricket
Cricket is a central sport in Asian countries like Pakistan and India. While it may look similar to baseball, with bats used to strike balls, it’s far from the concepts of baseball entirely.
Leagues like the Pakistan Super League (PSL) and the Indian Premier League (IPL) are what keep their betting scene more successful. There are millions of cricket fans around the world, and the majority of them came from Asia itself.
With players like Kane Williamson and Virat Kohli, cricket will continue to inspire millions of cricketers to join the best leagues and compete for championships. Of course, this success will also carry over to its popular sports betting Asia scene.
Bet on popular sports in Asia at BC.GAME
If you’re considering betting in the Asian betting market, there’s no other sportsbook to go to than BC.GAME. You can earn high payouts and claim a promotion that will make your betting experience all the more exciting.
BC.GAME offers several casino games with tons of rewards if you want to take a break from winning and claiming bonuses when betting on sports. You can also place cryptocurrency wagers in different sports matches to provide you with faster and more secure transactions.
Conclusion
The Asian betting industry is just as big as other sports betting markets worldwide. The potential for the market to grow is high. If you’re considering betting on several Asian betting scenes, now is the best time to bet on sports live.
Frequently asked question
Below are the most frequently asked questions about the Asian betting market:
Are online sports betting popular in Asia?
Yes. Sports betting is immensely popular all over the world.
How big is the sports betting market in Asia?
The sports betting market is widely popular in Asia because of sports like baseball, basketball, and cricket.
Which countries in Asia bet on sports the most?
Countries like China and Macau are the biggest countries regarding sports betting.
