You asked for it, and now it’s here! Lorde really has..
After the Chinese community, Indians, to enter the offshore gaming market in the Philippines.
• Indian gambling market is estimated to be worth US$60 billion per year, around half of this is said to be illegally bet.
• Online gambling revenue in India is estimated at $30 billion annually.
• Around 80% of Indians gamble at least once a year, be it on sport, slots or casino table games.
In an earlier statement, Leechiu Property President David Leechiu said: “POGOs will make a big comeback as soon as travel bans are lifted. The POGOs from India may come and enter the market this year, which will add to the demand.”
A statement that was strongly disagreed by Nikko Baluyot, President of Zonac and Shibata, a property manager in the Philippines that’s been in the business for a couple of years now.
Gambling is also illegal in India just like in China the reason why players opt to settle with offshore casinos.
But Mr. Baluyot pointed out reasons why it is very much impossible for the Indians to penetrate the Philippine market.
“Indian passport holders can’t enter the Philippines visa-free, they have to secure a tourist visa before visiting the country. It will cost them a lot, why not set up in their neighboring countries instead? I’m not saying that Leechiu’s forecast is fake, but it just doesn't make sense,” says Mr. Baluyot.
As of this writing, POGOs are allowed to operate should they be able to comply with the conditions and requirements given by the government.