Good Morning. One player to rule them all. Chinese play has always been the lifeblood of Asian gaming, but a recent report by the Asian Racing Federation has highlighted exactly how extensive the tentacles reach. Throughout Southeast Asia, the Philippines, Cambodia, Myanmar and Laos have leveraged nearly half of worldwide illegal betting turnover, despite authorities’ attempts. And in Singapore, analysts say that VIP remains unaffected by the recent massive money laundering case.
What you need to know
- Greater China drives roughly half of global illegal betting turnover, with the Philippines, Cambodia, Myanmar, and Laos jointly yielding $425 billion.
- Despite Singapore’s recent massive money laundering case, an analyst at Maybank says that the VIP market remains unaffected.
On the radar
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Nearly half of the worldwide illegal betting turnover likely came from Greater China, according to a new report by the Asian Racing Federation and The Mekong Club. The figure is estimated to reach some $425 billion, with four key centers in Asia – the Philippines, Cambodia, Myanmar and Laos. The total illegal betting market is estimated at somewhere near $1.7 trillion per year.
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