Gaming in Japan has not just been a regular affair, but the concentration and dedication the country has shown and invested in the arena, has gained it a unique reputation. However, as far as gambling and betting is concerned, there have been constraints and legislation that has hindered the progress of the industry in the country. Given that the country has an overwhelming market for gaming, the recent legal provisions to legalize the casinos in form of Integrated Resorts in the country will give a boost to the economy and reputation of the country.
Esports in japan has held a position in the international market that has led its counterparts to envy. The diversity in the gaming market has allowed the industry to prosper. In terms of revenue generation, the gaming market in the country was estimated at $44Million in 2018.
One of the significant factors that have affected the gaming market in the country has been the strict restrictions mandated by Japan.
The recent hike in the gaming market of the country can be attributed to the fall of the American gaming market. The impactful penetration in the market was in the 1980s, and when the American market failed to rise and instead it sank, Japan took advantage of the opportunity and capitalized on it. Along with the revolutionary initiatives, competitive tournaments like Tougeki, Toganga League or Mix up Night carved a status to the market.
Gambling and betting in the country go through a lot of legal hassles. With gambling banned, but certain types of betting and lottery legal, the interpretation in the country can be quite confusing. In terms of online betting, the law of the land is ambiguous and there is no such law that prohibits or legalizes it. Having said that, it will entail that as long as the platform is based out of Japan, the players can wager. Even various bookmakers offer exclusive services to the Japanese audience.
The market in Japan is at its highest, but as the country is set to make its debut in the gambling industry, the expectation is high. However, surprisingly the share of the gaming market in the country’s GDP is only 1%. Given the advent of casinos in the market, the industry of gaming and gambling is surely going to be the major contributors of the country. The most significant growth in the industry came in 2018 when the overall revenue of the gaming industry rose by $3million. As of now, the overall revenue generated by the industry is $19.2 billion.
Sports betting :
There are more than 6 million professional players attached to Japanese gaming. The ground for the betting industry in the country is ready and with exception to casino gambling. The country’s law currently allows lotteries, pachinko, and sports betting. In addition to that, various foreign platforms offer betting services to the Japanese bettors with access to diverse markets.
Betting in the country has gone through a lot of aggressive legislation and with the new age coming to dawn, the Japanese are set to legalize casinos in the country. This surely will pose a challenge to the already booming betting market, besides opening doors for legalizing other forms of betting.