Southeast Asian Sports Betting

The nature, laws, and limitations of sports betting now in Southeast Asia

Not everyone immediately thinks of Southeast Asia when they hear the word “sports betting.” The majority would, and with good reason, link the phrase to Europe. As football is such a hugely popular sport, there will undoubtedly be a lot of wagering. Some might relate it to the United States as well. The US market is expanding as a result of the recent legalization of sports betting in numerous States. In reality, the opposite is true.

Permitted Sports Betting in Southeast Asia
True, sports betting is very new to Southeast Asia. At least legal sports betting is available. But, they are by no means falling behind in terms of revenue. They already have a sizable number of sports enthusiasts. Since several nations have decriminalized betting, the pastime is currently more popular than ever. For instance, just prior to the start of the 2018 FIFA World Cup in Russia, Vietnam approved government-regulated sports betting. The main goal was to promote local enterprises, reduce the use of foreign websites, and strengthen the local economy.

Restrictions
Asians are particularly fond of basketball and European football. Unfortunately, there are several restrictions on what Southeast Asian individuals can wager on, as some types of gambling are permitted while others are not. However, a lot happens covertly. To get around local limitations, just use a basic VPN. From the quantity of websites that accept these regions’ currencies, one may determine how popular overseas betting is in these areas. Notwithstanding the stringent laws, most online sportsbooks accept Yuans, the currency of China. Illegal sports betting has increased across various Southeast Asian countries. This is mostly because it’s challenging to regulate because to the prevalence of anonymous cryptocurrency platforms and online gaming. The public has called for less stringent gambling restrictions as a result of sources claiming that the profits made from illegal betting surpass those made from regulated gambling. This has led to some of the largest betting wins ever.

Permitted Cockfights
In addition to popular sports, certain Southeast Asian nations permit wagering on locally specific sporting events. Take the Philippines for example. The locals like placing bets on cockfights and competitive street games like pusoy dos and tongits. In terms of gambling nations, Southeast Asian nations rank highly, with billions of dollars wagered there annually. But because there are few options and severe regulations on gambling in these countries, the appeal of offshore gaming websites has significantly increased.