Excitement and entertainment were more important factors than possible profit for gamblers in the Asia Pacific region when it comes to sports betting, a recent report shows, making it ‘one of the most lucrative markets for the gambling industry’.
The information was provided in the TGM International Sports Betting Survey 2022, a survey by data analysis company TGM, which polled a representative sample of over 28,000 respondents from 45 countries about their perceptions, attitudes, and behaviors towards sports betting.
‘Almost one-third of the world’s population gambles or participates in sports betting at some point in their lives. That number is also growing, owing primarily to the popularity and accessibility of online gambling services,’ the report states.
APAC responses included Australia, Indonesia, Japan, Pakistan, Philippines, South Korea, Thailand, and Vietnam nationals.
Data provided by the survey shows that APAC respondents surpassed respondents in the rest of the world in most of the questions pertaining to their interest towards sports betting, with the exception of Latin America, when it comes to betting for leisure.
‘Latin America and Asia Pacific are at the top of the list, with 40 percent and 39 percent of bets placed by those seeking excitement and pleasure, respectively. In comparison, the Asia Pacific region has the highest percentage of residents who enjoy
the atmosphere at gambling establishments, have extra money to spend, and are willing to try new things, making it one of the most lucrative markets for the gambling industry,’ the report states.
Interestingly, according to the survey, respondents from the APAC regions showed the smallest percentages of agreement to the question on their primary motivation for betting being ‘to win money’, with only 37 percent considering it their primary reason for betting.
In fact, about 40 percent of APAC respondents stated that their main detracting factor for betting in sports was the possibility of losing money, a value only bellow the 53 percent reported in North America.
On the opposite side, residents from Africa showed the highest percentage of respondents who considered this their primary motivation, at 68 percent, followed by the EU with 48 percent and North America with 42 percent, with 27 percent of Asia-pacific respondents saying sports betting was immoral/ against their beliefs, and 19 percent avoiding betting as they considered it possibly addictive.
When it comes to sports betting frequency, some 18 percent of APAC respondents said they only bet a few times a month, with 17 percent betting a few times a week, another 17 percent a few times a year and only 7 percent saying they gambled in sports every day.