Asia-Pacific Gambling Market
The gambling market in the Asia-Pacific region is driven by regulatory frameworks, tourism, and local demand. Casinos in Macau, Singapore, and the Philippines heavily rely on tourism, attracting gamblers from all over the world. Macau, often dubbed the gambling capital of Asia, is a prime destination for Chinese gamblers. The market encompasses live casinos, baccarat, blackjack, poker, slots, and other casino games, contributing significantly to the local economy through taxes, tourism spending, and community development. Many casinos are integrated with hotels, resorts, restaurants, retail shops, cruise ships, and other tourist attractions.
Online Gambling Market
According to Mordor Intelligence, the online gambling market is projected to be worth $93.26 billion in 2024 and is expected to grow at a compound annual growth rate (CAGR) of 10.44%, reaching $153.21 billion by 2029. Increased mobile phone usage, internet access, and online payment gateways have significantly boosted access to online gambling services. Approximately 71.6% of players prefer mobile gambling. Technological advancements like Virtual Reality (VR) and Augmented Reality (AR) are enhancing the online gambling experience. Leading companies such as DraftKings Inc. (NASDAQ) dominate the market, competing on factors like the quality of gambling content, user experience, brand equity, personalized payoffs, and platform accessibility.
DraftKings Inc., a vertically integrated sports betting company, offers a wide range of products, including gambling and digital media. The company operates mobile and retail sports betting in the U.S. and Canada, and also runs iGaming under the DraftKings brand. Moreover, DraftKings owns Jackpocket, a leading digital lottery app offering daily fantasy sports in the U.S., Canada, and the U.K. For the quarter ending March 31, 2024, DraftKings reported a revenue of $1.17 billion, a 53% increase year over year, driven by strong customer engagement, promotions, new customer acquisitions, and expansion into new jurisdictions.
DraftKings’ Monthly Unique Payers (MUPs) rose by 23% to 3.4 million, with average revenue per MUP increasing by 25% to $114 compared to the previous quarter. The company has $1.2 billion in cash and expects to generate over $400 million in free cash flow in 2024. Revenue for the financial year 2024 is forecasted between $4.8 billion and $5.0 billion, indicating a year-over-year growth of 31% to 36%. DraftKings is rapidly expanding its market, now offering mobile sports betting in 25 states, covering about 49% of the U.S. population.
Jason Robins, CEO and Co-founder of DraftKings, commented on the financial results: “DraftKings’ performance in the first quarter of 2024 was outstanding, reflecting healthy revenue growth and a scaled fixed cost structure that positions us to drive rapidly improving Adjusted EBITDA. We successfully launched our online sportsbook in Vermont and North Carolina with highly efficient customer acquisition. Looking ahead, we remain committed to maximizing shareholder value through continued innovation, operational excellence, and disciplined capital allocation.”
On May 23, DraftKings completed its acquisition of Jackpocket Inc., a leading digital lottery app known for its innovative digital lottery services, technology infrastructure, and strong brand presence. DraftKings aims to integrate Jackpocket into its operations, leveraging its customer base to enhance real-money gambling offerings and integrate the U.S. lottery market to boost customer lifetime value. Jason Robins stated: “Today we are announcing the completion of our acquisition of Jackpocket and the commencement of our value creation plan. We are well-prepared to quickly launch cross-sell programs, further improve customer acquisition efficiency, and continue to innovate and differentiate with our overall product portfolio for our customers. We look forward to continuing to deliver enhanced value to our customers and shareholders as we integrate Jackpocket into the DraftKings ecosystem.”
Our Methodology
To compile our list of the 20 biggest gambling countries in Asia, we consulted the World Casino Directory database. We used the number of casinos and casino hotels as our primary metrics. The countries are ranked in ascending order based on the number of casinos, with the number of casino hotels serving as a tiebreaker where necessary.
The Biggest Gambling Country in Asia
Philippines
Number of Casinos: 76
Number of Casino Hotels: 66
The Philippines boasts one of the largest gambling markets in Asia. Legalized in 1976, the country’s gambling sector has seen rapid growth. Notable casinos include Resorts World Manila, located near the Manila International Airport, and several major casinos in Entertainment City on Manila Bay. With 76 casinos and 66 casino hotels, the Philippines’ robust gambling infrastructure significantly boosts the local economy through tax revenues and employment.
Interested in other Asian gambling hubs? Check out our report on the 20 Biggest Gambling Countries in Asia. At Insider Monkey, we specialize in identifying top-performing stocks. Currently, Artificial Intelligence (AI) technology is a promising field. If you’re looking for an AI stock more promising than NVDA but trades at less than five times its earnings, check out our report on the cheapest AI stock.
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