Introduction
The betting landscape is vast and complex with a particularly intriguing component known as the Asian bookmaker. Understanding what makes them unique can be a challenge. The intent of this piece is to illuminate the concept of the Asian bookie, their origins and reputation, their benefits, and how best to utilize their services.
Defining an Asian Bookie
A look back into the history of gambling in Asia reveals that this densely populated continent houses the world’s largest betting market due to the locals’ penchant for betting. As a result, many of the biggest betting operators originated in Asia and continue to operate there.
The Chinese market
Although gambling is largely regarded as a social ill, the Chinese market remains significant. Gambling has been illegal in China since 1949, but that hasn’t stopped the betting spirit of a significant portion of its populous. The economic boom of China has only amplified this.
Macau
As the gambling capital of the world, Macau, an island off the Chinese coast, generates about seven times the gambling revenue of Las Vegas. Owing to its special administrative status that includes different laws compared to mainland China, this island allows legal gambling and is tax-free, making it a hot spot for gamblers.
Hong Kong
While Macau is known for casino and card gaming, Hong Kong has a long history of horse betting, courtesy of the Hong Kong Jockey Club (HKJC). With its state-granted monopoly on horse racing and sports betting, HKJC was able to generate an equivalent of $35.9 billion in gambling revenue in 2021 alone.
Other territories
Besides Macau and Hong Kong, Chinese gambling tourism extends to other neighboring countries like the Philippines and Malaysia.
The Asians
The prohibition trend led to the rise of business entities handling a significant volume of betting money. As a result, the Asian bookmakers, often referred to as “Asians”, became proficient at their craft and are known for accepting large bets with accurate pricing.
The Europeans
Contrary to their Asian counterparts, European bookmakers prioritize attracting square money and dispensing with the rest to optimize their profit margins. As a result, price disparities between European and Asian bookmakers are common, with the latter consistently offering more accurate pricing.
The USA and the offshore market The betting landscape in the USA evolved similarly to that in China. A prohibition led to the growth of offshore bookmakers who continued to operate despite the legalization of sports betting in the United States in 2018. Famous among these is Pinnacle, a renowned Caribbean bookmaker headquartered in Curacao.
Legalization With the overturning of the 1992 law prohibiting sports betting in the United States, each state now sets its own rules regarding sports betting. This development allowed for the emergence of numerous onshore bookmakers such as DraftKings. However, the offshore players still hold sway due to their more appealing offerings – high betting limits with no restrictions.
Seeds of caution amid advantages While the Asian model may appear beneficial for the punter, it carries its drawbacks. However, there are many value betting tools, like trueoddschecker.com and probetlive.io and Rebel Betting which can prove very useful for anyone interested in the betting world.
