With basketball and football leading the way, the opportunities for both licensed operators and consumers are expanding in Asia, particularly China and India.
The sports betting market in Asia is on an impressive growth trajectory, particularly in basketball and football betting. This trend is highlighted in a recent report from the International Betting Integrity Association (IBIA), which was prepared by H2 Gambling Capital (H2) in collaboration with several industry partners. These partners include the Instituto Brasileiro de Jogo Responsável, the Canadian Gaming Association, the Netherlands Online Gambling Association, and Responsible Wagering Australia.
According to the report, which was cited by AGBrief, regulated global sports betting is projected to reach approximately $94 billion in gross gaming revenue (GGR) by 2024. A remarkable 65 percent, or around $61 billion, of this revenue is expected to come from online betting platforms. This figure illustrates the rapid shift towards digital betting options, which are becoming increasingly popular among consumers. By 2028, global sports betting GGR is anticipated to rise to around $132 billion, with online betting contributing over 70 percent of this total.
Countries like China and India are at the forefront of this growth, driven by a rising interest in traditional and online betting markets. The popularity of sports such as football and cricket is a significant factor contributing to this trend. Football, in particular, is projected to generate about $53 billion in GGR from an estimated turnover of $570 billion in 2024. This positions football as the dominant product in the sports betting sector, accounting for more than 56 percent of the regulated betting market’s gross win worldwide.
Online platforms are thriving, with nearly 65 percent of all football GGR expected to come from digital channels. The report forecasts that Europe and Asia will collectively contribute a staggering 85 percent of all football betting GGR, encompassing both online and land-based options in 2024. This highlights the potential for online sports betting to reshape the gambling landscape in these regions.
In addition to football, basketball is also experiencing robust growth. The North American basketball betting market is expected to reach approximately $5.4 billion in GGR by 2028, driving much of the global growth in this sector. The overall basketball GGR is projected to increase from $7.9 billion in 2024 to $11 billion by 2028. Europe and Asia are also expected to contribute significantly to this growth, with increases projected at over 20 percent and 30 percent, respectively, bringing their totals to $2.3 billion and $3.2 billion.
One key aspect of the report is the shift towards licensed onshore betting. According to H2 Gambling Capital’s analysis, 83 percent of all sports betting is expected to be placed with licensed onshore operators in 2024. This is a notable increase from the 63 percent recorded in 2018. However, around 17 percent of bets will still be placed with licensed offshore operators. This figure does not account for the extensive black market that exists, especially in regions like Asia, complicating efforts to assess the full scope of unregulated betting activities.
“Maximizing onshore channelization is key to addressing integrity issues and ensuring that Asia’s growing sports betting market remains sustainable,” the report emphasizes. The authors point out that prohibiting or restricting in-play betting has little effect on curbing corruption. The presence of significant offshore unregulated markets in Asia creates challenges for onshore operators, as bettors often seek options that meet their demands, which can lead them away from regulated environments.
Consumer demand for diverse betting products is increasing, and in-play betting has emerged as particularly popular. As jurisdictions in Asia begin to consider regulatory changes to accommodate online sports betting, they may find opportunities to enhance consumer engagement. However, these developments must be balanced with the need for regulatory frameworks that address concerns about integrity and match-fixing. The report underscores the importance of robust regulatory measures to ensure fair play and protect consumers, urging Asian countries to adopt international standards for monitoring betting activities.
While the report mainly focuses on Brazil, it draws parallels with Asian markets, where regulatory frameworks are still evolving. Brazil’s anticipated liberalization of its sports betting market offers insights into how Asian countries might structure their own regulatory environments to combat offshore betting effectively and enhance onshore revenues. The IBIA predicts that as more Asian nations legalize and regulate sports betting, the region could experience a substantial increase in GGR. This not only presents economic benefits but also offers improved consumer protection through regulated markets that provide safer betting environments.
Stakeholders in Asia are encouraged to consider comprehensive regulatory frameworks that prioritize integrity and consumer safety. As the demand for sports betting products continues to grow, it is essential to create an environment that fosters both economic opportunity and responsible gambling practices.
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