Both the West and the East have developed different aspects of gambling throughout the course of history. Each of the two facets of global cultures have exchanged ideas and inventions to develop most of the gambling games and casino elements that we know of today.
The West may have more tolerance in gambling activities than the East but that doesn’t mean the latter has tossed gambling aside fully. Both sides of the world have their own collective ideologies that shaped the way we gamble.
When it comes to the global gambling market, however, each one is distinct from each other. Let’s examine in this piece, which of the two has the most global gambling market.
Gambling Market in the West
The West has always been open when it comes to casino gambling. Europe and North America are the two continents that contribute to the unceasing popularity of casino gambling.
It is no surprise that the West is a gambling haven, most of the gambling hotspots are located either in Europe or America. Gambling destinations like Las Vegas and Atlantic City in the US, Montenegro in Monaco and Paradise Island in the Bahamas, they dominate the gambling world in the West.
Most of the Western countries have legalized gambling so this industry is thriving in this part of the world, with only a few countries like Belgium having strict regulations about this activity. However, as years passed, the western land-based gambling is losing its allure.
Studies also have shown that most western gamblers have a penchant for strategy-based games like poker, blackjack, fishing games and sports betting.
Gambling Market in the East
The legality of gambling activities in the East is ambiguous. Most Asian countries consider gambling as illegal, while some only impose strict regulations. Nations such as China, Thailand, Indonesia, India and Saudi Arabia, prohibit gambling all throughout.
Countries like Singapore, Vietnam, the Philippines, Japan, South Korea and the Chinese territory of Macau are more open to regulated gambling activities. Most of these countries only allow state lottery and horserace betting and alienate other forms of gambling.
The administrative territory of Macau is the most popular gambling destination in Asia. It has surpassed Las Vegas when it comes to global revenue and number of casino-goers. Second to Macau, Marina Bay Sands in Singapore is considered a gambling hotspot in Asia.
Studies have shown that Asian gamblers tend to play luck-based games like baccarat, slots, roulette and lottery because of their strong beliefs in fate and superstitions.
The Middle Ground
To compare the two, gambling behavior, national religions and political ideologies affect the development of gambling activities in a certain place.
European and American nations have more independent and liberated societies which makes gambling much more easier to accept. However, physical casino-goers have diminished throughout the time as technologies rise. Many western casino-goers have transitioned to online gambling, making the online gambling market in the West much stronger than the East.
Online gambling in Asia is much more regulated in most countries, but land-based casinos are thriving especially in Macau, Singapore, Vietnam and the Philippines.
What’s common in both gambling markets is that both have strong lottery and horserace betting markets.
The Future of Gambling Industry in the World
The future of world gambling is bright, with much more focus on new technologies that are being incorporated into the gambling ecosystem. While Asian gambling markets are slow to build, take time and it will dominate the gambling world.
To sum it up, both markets have their own unique aspects that are affected by their dominant ideologies and gambling behaviors.
While the East has surpassed the West when it comes to land-based-casino-goers, Western markets are leaning towards the development of online casinos like M88 and it’s getting stronger and stronger as the time goes.