Last year’s exceptional events due to the pandemic crisis lead to the closure of land-based casinos, with no imminent recovery. The Gross Gaming Revenue (GGR) of states where online gambling is not permissible nosedived. The GGR of Macau slipped by 97% in June and 94.5% in July of last year. One major casino brand reported having lost US$2 million per day. In some countries, restrictions are lowered as the economy is slowly backed to normalcy. Social distance is still practiced as preventive measures, so it will be a challenge to restore the ambience, excitement and thrill of the territorial casino experience.
The closure of land-based casinos can be a catalyst for change in Asian gambling; more Thai players can opt to play Pok Deng (ป๊อกเด้ง) online than in venues. The Philippines is taking adequate measures for regulated online gambling within the sovereign and coming up as the largest gambling hub worldwide. In spite of large grey gambling markets, many governments were reluctant to regulate and legalize gambling laws. But as revenue of land-based casinos ceases, there is ample opportunity for a shift in attitudes if the governments align with the aspiration of the players.
Opening the door to online betting
Amending, implying online casino laws could significantly change the scenario, make it more transparent. By implementing a proper distinct law, the governments can safeguard the player’s interest from crooked black market operators. Enacting stringent KYC/AML formats streamlines the legal procedures. Within a regulated framework, the industry could expand and progress. Gambling industry of countries with well-defined laws, the players are not only protected but provide a propagation ground for innovation and employment. Colombia is a classic example; with explicit, stringent laws, both operators and players know their boundaries. Online bookmakers introduce new products and features within the framework provided by the government.
Even conservative countries like Switzerland with strong land-based casino traditions are opening the door to online betting. Many Southeast Asian countries have a high level of internet penetration and mobile usage, making those areas lucrative for online betting. Countries with more than 80% internet penetration, large populations, if coupled with a proper legal framework, would be prominent global gambling hubs. For decades regulated and grey gambling market coexisted in Southeast Asian countries, so operators know the favored content of local players. A recognized and trustworthy gaming content not only ensures business success but safeguards player interest, those who look for a pleasurable experience.
As the second wave of mutant covid-19 spreads, there is no definite date when lad-based casinos start operating again. Legalization is not a matter of overnight; even the corroboration of online gambling in the Philippines took many efforts and time. Brazil is showing interest in legalizing online sports betting in the rouse of the pandemic. The significant rise in revenue in the US state of New Jersey proves that legitimizing online gambling is beneficial for both governments and players. Taking a similar approach can provide stimuli to the local economy, players, authorities, and regional and international gaming fraternity. To streamline the gaming industry, significant planning and willingness is required, but online is only the answer. Until that, you can always enjoy a hand of Pok Deng in online casinos.