The Asia-Pacific gambling market is projected to grow annually by 6% through 2029

Research firm Mordor Intelligence has released a new consulting report forecasting the growth of the Asia-Pacific gambling market. The report predicts that the compound annual growth rate (CAGR) of the gaming industry will exceed 6% from 2024 to 2029, with key drivers of this positive trend being casinos in Macau, Singapore, and the Philippines.
The report takes into account revenues generated from both online and offline gambling in the Asia-Pacific region, covering live casinos, baccarat, blackjack, poker, slots, and other gaming types. Analysts estimate that the total revenue for this sector reached $2.02 billion (approximately 185 billion rubles) in 2023.
Mordor Intelligence notes that while brick-and-mortar casinos suffered significantly due to closures and business reductions during the COVID-19 pandemic, the crisis has benefited the iGaming market. There has been an increase in the number of people playing casino games and placing bets on PCs and mobile devices.
"The iGaming sector has become easily accessible due to the proliferation of mobile phones, the internet, and convenient online payment gateways. Notably, Asia leads in high-stakes online gaming, with 71.6% of users preferring portable devices," the report states. As an example, the consulting firm highlighted that India's iGaming industry alone could reach $4.6 billion (around 421.5 billion rubles) by 2026.
"Regulatory changes in Asia-Pacific countries that legalize online gambling and ensure user safety are further accelerating market growth. Technological advancements, such as virtual reality (VR) and augmented reality (AR), are enhancing the quality of iGaming," Mordor Intelligence added.
Overall, despite a number of challenges, the consulting firm believes that the gambling industry in the Asia-Pacific region remains dynamic, with the online sector identified as a key growth driver.
Notably, China has expanded the number of cities eligible for individual visas to Macau, which is beneficial for local casinos.