Inside Asian Gaming

IAG JAN 2021年1月 亞博匯 76 minded governments to think progressively and not rest on their laurels. In fairness, Asia’s casino gaming regulators are pretty good. They have presided over an industry that at its peak generated more than US$50 billion of gross gaming revenue per year, and they generally allow licensees to operate with minimal interference. But a significant portion of that revenue is at risk if officials do not adopt a visionary approach and an ability to quickly respond to changing market trends. Allowing IRs, for example, to enable digital currencies to facilitate commerce on mobile betting platforms could be a key catalyst in spurring increased customer interaction and as a result greater betting turnover. While a majority of attention is paid to Bitcoin due to its amazing price movement, the development and utilization of either a national or central bank endorsed digital currency product could unlock tremendous liquidity – providing much-needed sector stimulus. China’s savings rate of 45% is one of the highest in the world, and having a conduit to access even a small portion of that wealth would be a benefit to businesses that can utilize it. Digital currencies are likely to facilitate a more efficient, lower - cost casino operating environment enabling higher business volumes with greater security that would be able to service non-gaming businesses as well. Adopting this form of payment solution may also reduce the need for antiquated and bloated compliance programs that are mostly reactive in nature rather than proactive in preventing nefarious activity. Blockchain and distributed ledger technologies have the ability to provide COLUMNISTS