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***GambLux EDITOR NEWS*** |
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Online gambling: Asia takes over from USA
[Sunday, February 04, 2007]
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Many see Asia as the ideal replacement market for the USA following the passing of the Unlawful Internet Gambling Enforcement Act (UIGEA). Macua has become the largest location for land-based casinos. In Singapore casino gambling has been liberalized while the Cagayan region of the Philippines has licensed online gambling.
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High-speed internet access in Asia is growing dramatically and many more people are going online, but the percentage of Internet users as a percentage of total population in Asia (10.5%) is still a fraction of what it is in the USA (69.5%).
Major western companies such as Betex and Playtech have signed joint-venture agreements in China, where select private operators have been allowed to work closely with government endorsed entities. Specific Asian areas may indeed provide the springboard to the expansion of online gambling activities in the East. However there are still many drawbacks.
Severe exchange control rules exist throughout Asia. So cash transfers to any online business based outside of Asia are difficult and in some cases may be criminal. In addition, one Asian jurisdiction may provide a license to provide online gaming services in other Asian jurisdictions, but not in its own jurisdiction. This would be very unhealthy practice.
Asia has huge potential as an online gambling market. However Western operators must not treat this market as a golden goose laying golden eggs. They need to be patient about local developments and be very sensitive to their far-Eastern operations, if they want to ultimately benefit.
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