Malaysia has the highest number of Trusted Live Casino Malaysia per citizen. No one knows who runs these brands and if they follow responsible gaming guidelines.
The number of Malaysians falling victim to casino scams increases every year, and it isn’t easy to stop. Local brands often work when players lose money, but problems come when they have to pay jackpots. Winning a huge jackpot is so rare that a player can play for years at shady casinos and never know that they have 0% to win/get back the jackpot.
How Popular Is Online Gambling?
According to Future Reports market research, the global online gambling market was valued at $52 billion. This represents an annual growth rate of 13.2% during the period under review. The spread of COVID-19 has changed the Malaysian online gambling market. Analysis shows that traffic to gaming resources has increased by 10 to 15 percent. In March 2022, the online gaming market grew significantly.
A significant source of revenue
Many governments have found online gambling to be a significant source of revenue. Therefore, Some countries have taken advantage of the growing popularity of online gambling sites. Belarus, for example, has officially legalized online gambling. Strict enforcement of online gambling rules led to a market crash in April.
Online poker and online casino are two of the most popular games on the internet among Malaysian players. So the growth of mobile applications and the Internet of Things (IoT) has led. To a rapid increase in consumers in the online gambling market. Online gambling platforms now work smoothly due to uninterrupted internet connectivity. This has helped expand the market. Online gambling companies invest heavily in the innovation of their platforms.
Malaysia’s Gaming Industry Versus The Rest Of The World
MRFR’s analysis shows that Europe has the largest market share in terms of revenue, as technology companies developed in the region have made it a high market. The market is further strengthened because governments in the region have adopted supporting rules and regulations. The European region is home to some of the largest online gaming firms in the world. However, the APAC region will be the most anticipated growth region during the forecast period. The APAC market has seen a substantial rise in mobile gaming and increased foreign investment.
The COVID-19 epidemic has changed the dynamics of the market. So Spain, Italy, and the Philippines have benefited from the epidemic.