Asian gamers have increasingly moved online over the past year, not only to place their bets, but also to share social betting experiences through streaming and messaging channels, the betting company explains. sports and technology 1XBet.
In an email interview with Asia Gaming Brief, the company’s Asia team shared their experiences on the latest developments in the region and their expectations for the future.
They say they have noted three key trends, although they also point out that Asia is the largest market in the world, with unique and diverse cultures, so there is no one-size-fits-all solution.
Estimates of the actual market size vary considerably due to the lack of available data, in particular due to the absence of regulated markets. However, a recent report by Research and Markets estimated the global industry at $76.8 billion in 2020, with Asia accounting for the largest share at around 32%.
The first trend to note is a migration to everything online, says 1XBet.
“This is part of a global trend that we have seen in many other markets over the past two years. People no longer need to chat in person with other players while getting live bets. Because now you can also chat betting with a friend on a messenger while getting odds online, so everything is more accessible,” they say.
“The second trend is related to the first – there is a growing interest in streaming. It’s not just about streaming sports matches, but also streaming online games and slots. People want to share the emotions they feel during the game with others – and that’s very cool.
Indonesia Embraces Crypto Wallets
Third, 1XBet said they have noticed how the use of cryptocurrency wallets has increased, especially in Indonesia, where they have gained “massive popularity”.
“Their owners use this tool to protect their data, and the interest in it in the country is exceptionally high. With a population of over 270 million people who love sports a lot, you can imagine the potential in this regard. And we are very interested to know if it will also be developed in other countries.
Elsewhere in the region, they say there has also been a growing acceptance of cryptocurrency wallets.
“In 2021, but in general, from the beginning of 2020, if not a little earlier, players started to trust this method of storing money more. This happened both because of the desire general to preserve the anonymity of monetary settlements and partly due to fluctuations in cryptocurrency rates when betting – something that can be lucrative,” the team said.
Even though most countries in Asia are now coming out of lockdown, 1XBet said the online trend continues, partly because it took hold during Covid.
“The second important result has been the growing interest in betting on virtual games, which are available to visitors to the 1xBet website and applications 24/7. There are always options with which you can Wagering on slot machines, which is also available to our players, is also still popular. We were ready for all circumstances two years ago – and we are still ready now.
Esports sponsorship potential
Going forward, 1XBet expects more growth in esports, including an increasing number of sponsorship deals between bookmakers and esports organizations.
“We can say from our experience that 1xBet’s collaboration with organizations of ESL’s caliber has allowed us to increase public familiarity with the brand. We are used to working with the best – and at this regard, the ESL brand is as important as, say, the Barcelona brand,” they said, referring to the German esports organizer and production company.
The company said it plans to secure a number of sponsorships in the Asian market and collaborations with local influencers this year as a simple and effective way to gain people’s trust.
“1xBet approaches this problem carefully, because we want to work with the best. And at the same time, we take into account the regional characteristics of each country. For example, cricket is very popular in India, which is why famous cricketer Dwayne Bravo, known to hundreds of millions of people in the country, became our brand ambassador there. We are interested in such transactions, it is an example of respect for the interests of local players.
The company said the Asian market continues to be one of the toughest, with high levels of competition and new brands constantly emerging.
Asia’s online challenges
As a result, she says she has changed her approach to focus on the key values sought by actors in the region; respect for players; a wide range of ways to earn; modern technology and efficiency.
“These are the strengths that are the basis of promoting our brand in Asia.”
“Asia is a very competitive environment, new brands are constantly emerging that set themselves the highest goals,” he says. “In this regard, the situation here has not changed for many years and is unlikely to change. It’s an interesting and exciting challenge: if you are able to conquer the Asian market, then you can succeed anywhere.
The company also commented on the war in Ukraine where it has many employees. She recently donated €1 million to help support charitable foundations that are dealing with the humanitarian crisis.
“In Ukraine, we received a work license – and we hope that by creating even more jobs, we can help the economy of this country, one of the largest and most interesting in terms of the development of our brand in Europe.”