Philippines stands apart as India struggles with fragmentation
The Philippines stands out as a notable exception within Asia. Blask identified the country as the region’s only open and competitive regulated online gaming market, following the nationwide ban on offshore gaming operations and the expansion of domestically licensed e-games and e-bingo platforms. As a result, demand has increasingly shifted toward local operators, supporting stronger revenue capture compared with other Asian markets.
‘Policy changes in the Philippines have reshaped supply toward local licensees,’ Blask indicated, pointing to a surge in domestically regulated platforms after offshore operators exited the market.
By contrast, markets such as Indonesia, Thailand and Bangladesh continue to register strong demand despite ongoing enforcement measures, including site blocking and payment restrictions. Blask noted that these actions contribute to high market churn, with operators frequently rotating brands, domains and marketing channels to maintain visibility.
India presents a distinct set of market dynamics. Blask’s analysis shows that the country has the largest number of online gaming brands in Asia, pointing to a highly fragmented and intensely competitive landscape. While seasonal sporting events, particularly cricket, continue to drive sharp spikes in player interest, revenue capture remains constrained by regulatory intervention.
In August 2025, India enacted the Promotion and Regulation of Online Gaming Act (PROA), which imposes a comprehensive ban on online money games played for stakes, regardless of whether they are classified as games of skill or chance. Blask noted that the combination of high brand density and sweeping regulatory restrictions has limited monetization, making localization and compliance agility critical for operators.
A region of contrasts, not a single market
The report also highlights varying levels of market maturity across the region. Markets such as Singapore, South Korea and Japan display lower volatility and more contained growth patterns, reflecting tighter controls, state monopolies or limited legal offerings. In contrast, faster-growing markets tend to show steeper and more irregular demand curves.
On the product side, Blask found that slots dominate player preferences across Asian markets, accounting for the vast majority of observed interest. Other game types, including live casino and table games, form a much smaller share of overall engagement, a pattern that remains consistent across both regulated and unregulated environments.
In sum, Blask said Asia’s iGaming landscape remains defined by strong consumer demand alongside structural constraints that limit revenue realization. While interest in online gambling continues to grow across much of the region, the company cautioned that outcomes vary widely depending on regulatory clarity, enforcement intensity and market access.
‘Asia should not be viewed as a single market,’ Blask said. ‘It is a collection of jurisdictions at very different stages of development, where demand, regulation and monetization do not always move together.’
Dingnews.com 18/12/2025