Bet on Asia with Altenar

In the following article, the Altenar team reveals the power of online betting growth in Asia and how the operators should adapt their strategy to regional preferences.

Press release.- Asia is not just catching up in the world of online betting – it is setting the pace. The market is projected to almost double within a decade and the region is becoming a pivotal battleground for digital betting platforms. 

With average bet sizes outstripping those in Europe or Latin America, it is little wonder that operators from around the world are giving much more consideration to how they can get in on the action. 

Yet the landscape is far from uniform. Regulatory frameworks vary widely, compliance clarity is often lacking, and the growth is very much driven by local dynamics. To achieve success, operators must understand what is powering the growth of online betting in Asia, and how to adapt their strategy to regional preferences.

The growth of Asia’s igaming market

In 2023, the online gambling market in the Asia-Pacific region was valued at approximately $35.99bn and by 2030, it is projected to rise to around $72.81bn, with a compound annual growth rate of around 10.6 per cent.

A wide variety of verticals are contributing to this growth including online casinos, sportsbooks, live dealer formats, and a fast-emerging segment of esports betting.

Contributing to this is a potent mix of high smartphone and internet penetration (mobile-first access is now standard), strong consumer appetite for real-time and live-betting experiences, and rising demand for esports-related markets. In many countries, live casino formats and mobile in-play sportsbook offerings are becoming dominant revenue drivers.

Crucially, Asia’s consumers tend to bet in larger amounts: research shows the typical Asian bettor stakes around 2.5 times more than European counterparts, and more than four times the wagers seen in Latin America.

For operators, this means the optimal strategy is less about sheer volume of users and more about attracting high-value players, delivering the best odds, and building trust and retention models that match those higher stakes.

Key igaming markets in Asia

For operators planning a long-term strategy in Asia, there are four markets that warrant particular attention due to the common traits of digital maturity, consumer demand and regulatory frameworks:

Philippines 

One of Asia’s most open markets, regulated by the Philippine Amusement and Gaming Corporation (PAGCOR). In 2024, GGR increased by 25 per cent to a record $7.16bn which is expected to increase to $7.8-8.3bn in 2025. This regulatory openness, combined with digital adoption, makes the Philippines a go-to for operators seeking growth in a more stable environment.

Key sportsbook feature: Strong basketball product, including early payout promos.

India

The gambling market in India is forecast to reach $16.83bn by 2033 so there is plenty of potential but the biggest challenge for operators is a complex regulatory environment where gambling laws differ greatly across states. Nonetheless, there is a vast smartphone-enabled population offering lots of opportunities in a country where cricket is king.

Key sportsbook feature: Extensive cricket coverage including a wide range of pre-match and in-play markets.

Japan

The market was worth approximately $8.1bn in 2024 and is expected to grow to around $12.9bn by 2033. Under heavy regulation, but a strong gaming culture and rising online activity make Japan interesting for long-term entry, albeit with regulatory caution.

Key sportsbook feature: In-depth baseball betting content, both domestic and international.

South Korea

With forecasted growth at 8.16 per cent CAGR from 2024 to 2032, this is a technologically advanced market and major esports hub, especially among younger users. South Korea presents a high-potential but strictly regulated arena, and operators must ensure full compliance.

Key sportsbook feature: Standalone esports lobby with official data feeds.

Sri Lanka

Sri Lanka is another market where rising smartphone usage and a passion for a wide range of sports is fuelling growth, while draft legislation published earlier this year included the legalisation of online gambling and plans to create a gambling regulator in the country.

Key sportsbook feature: Much like in India, sportsbooks in Sri Lanka must offer premium cricket content.

Future outlook – Altenar’s view

Altenar will be in attendance at SiGMA South Asia in Sri Lanka on November 30-December 2 to discuss how a premium sportsbook solution can help operators capitalise on the opportunities the region provides.

Tassos Theocharidis, senior sales executive, is one of the team heading to Colombo and highlights how Altenar’s sportsbook solutions can drive success in Asia.

He said: “Asia is already more than an aspiring growth region – it’s a competitive zone for operators who can offer key features such as mobile-first betting platforms, live-stream integrations, esports engagement, and even crypto transactions. In some markets, taxation and licensing are also becoming increasingly operator-friendly.

“Success in this region will not come from a one-size-fits-all approach though. Operators need regional adaptation, localised content, and readiness for regulation to evolve. The growth may be swift but the Asian market rewards patience and precision, and success comes to those who tailor their product to regulation, not the other way around.

“Asia offers a combination of scale, growth rate, and opportunity. For operators ready to navigate regulatory complexity and deliver locally relevant experiences, the time to act is now and Altenar can help thanks to our years of industry knowledge across many different markets. We can offer sportsbook features which are suited to the needs of bettors here but, more importantly, we provide a focus on localisation and compliance which provides a solid foundation for growth.”