China Online Gambling Market Research Report, 2028

China Online Gambling Market Research Report, 2028

Actual Market Research 31-03-2023 58 Pages Figures : 4 Tables : 11 Region : Asia-Pacific Country : China Category : IT & Telecommunications Internet, E-Commerce & Software

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China is the biggest market of Online gambling in Asia-Pacific region. Gambling is illegal on the Chinese mainland, with the exception of two state-run lotteries. This does not, however, imply that Chinese citizens have no access to casino entertainment. Macau and Hong Kong, China's two special administrative territories are legally permitted to provide gambling entertainment due to some legal loopholes. China's neighbours, seeing an opportunity, invest heavily in attracting and catering to Chinese gambling tourists through luxury five-star casino resorts. The legalisation of online gambling in China is driving the China online gambling market. The government has enacted new laws and regulations to oversee online poker, casinos, and sports betting enterprises. Increased internet access and rapid urbanisation have also resulted in an increase in consumer interactions with domestic and international gambling websites and mobile applications. Furthermore, the coronavirus disease (COVID-19) outbreak across the country has increased demand for online gambling as a form of entertainment while adhering to COVID-19 protocols such as social distancing. This has also resulted in a significant shift away from traditional land-based gambling and towards the digital gambling world. According to the research report, “China Online Gambling Market Research Report, 2028” published by Actual Market Research, the market is anticipated to add more than USD 5.16 Billion from 2023 to 2028. China enjoys betting on sports, but this isn't the only type of online gambling that they enjoy. Aside from sports, China is home to a variety of betting forms, including lottery and a variety of slot machines. However, this is where regulations can become complicated. Some of these gambling methods, such as poker or mah-jong, may be available on unapproved websites, which are strictly prohibited in China. When it comes to sports betting, the Chinese Sports Lottery has a complete monopoly in China. Because online gambling is illegal in China, Chinese residents who want to gamble online usually prefer internationally licenced websites. Not only will this make online gambling more accessible to them, but they will also be able to find online gambling suites that offer a whole range of different live casino games. With the increased use of smartphones and other mobile devices, Chinese citizens now have easier access to online gambling websites. This, combined with the availability of VPNs, has made it easier for people to get around legal restrictions on online gambling. The rapid rise of China's middle class has resulted in increased disposable income and a desire for entertainment options. This has increased the popularity of online gambling as a form of entertainment. The Chinese government only permits certain types of online gambling, such as lotteries and sports betting. This has created a market gap that offshore gambling websites are filling. Based on gaming type, the market is segmented into sports betting, casinos, poker, bingo, and lottery. Among them the sports betting and casinos holds the maximum market share in 2022 and are expected to dominate the market of online gambling in China. For centuries, gambling has been a part of Chinese culture, and many Chinese people enjoy the excitement and social aspect of gambling. Sports betting and casino games are popular forms of entertainment in China, and online platforms make them more accessible. While gambling is technically illegal in China, there are some exceptions, such as sports betting and lotteries, which are permitted in some regions under certain conditions. Online sports betting and casino games are also technically illegal, but due to lax enforcement and the difficulty of monitoring the internet, they are still widely available and popular. Soccer (football) is the most popular sport for both online and offline sports betting in China. This is due to soccer's widespread popularity in China and around the world, as well as the large number of soccer matches and tournaments held throughout the year. Basketball, tennis, and horse racing are also popular sports for sports betting in China. Based on device type, the market is divided into mobile devices (phones and tablets) and desktop. Among them the market is dominated by mobile devices and further during the forecast period it is expected that the market will be dominated by mobile devices only. With over a billion smartphone users in the country, mobile devices are ubiquitous in China. This means that by targeting mobile users, online gambling operators can reach a larger audience, and players can easily download gambling apps or access mobile-optimized websites. For social and cultural reasons, mobile devices are also popular in China. Because many people use smartphones and tablets for social networking, messaging, and entertainment, online gambling is a natural extension of these activities. The Chinese government's crackdown on illegal online gambling continues, with regular raids and arrests of operators and players. In addition, the government is stepping up its efforts to restrict access to offshore gambling websites and mobile apps. The Chinese government is emphasising social responsibility in the online gambling industry as part of its efforts to combat gambling addiction. Operators must put measures in place to prevent addiction and identify and assist players who may be at risk. Sports betting are a popular form of online gambling in China, and the government is tightening regulations in this sector. New regulations were implemented in 2020, requiring sports betting operators to obtain licences and adhere to stringent data security and player protection. Some online gambling operators in China are exploring the use of virtual reality and augmented reality to enhance the player experience. These technologies allow players to immerse themselves in virtual casino environments and interact with other players in real time. Considered in this report • Geography: China • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report • China Online Gambling market with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Game Type: • Sports Betting • Casinos • Poker • Bingo • Lottery • Others By Distribution Channel: • Mobile Devices (Phones and Tablets) • Desktop The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Online Gambling industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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