Exponential Growth in Crypto Gambling in Asia
38% of all online gambling takes place in Asia-Pacific region. North America accounts for 29% in the global gaming sector. Since the advent of Bitcoin, cryptocurrencies and Decentralized Finance have taken the world by storm. There are hundreds of crypto-friendly online casinos and sportsbooks. Ron Mendelson thinks that crypto gambling, virtual reality, augmented reality and artificial intelligence are going to be the technologies of the future.
There are several reasons why online gambling is popular application of crypto coins. Online casinos have also onboarded support for crypto in recent years. In India, except for a few states, online gaming is allowed through the nation. Mobile casino gaming with the use of the crypto is set to become the next big thing in gaming in the years ahead. There is an exponential growth in Crypto Gambling in Asia. It is also coming to realize in India. 5G infrastructure is just coming into realization in that country.
States are starting to regulate online gambling. Governments stand to earn hundreds of millions in tax revenue. A regulated market can create millions of new jobs. It could also reduce the possibility of match fixing. In India, most states have allowed online gaming and are looking at higher tax rates for online betting. The government may also be able to access and identify problem gamblers and restrict their accounts. This could help them find help. In the long-term, it could boost the economy. For example, cricket fans in India are going to bet on cricket matches legally or illegally.