The rise in cryptocurrency payments can be traced to increasing online gambling activity in Asia. Countries like India, Japan, and Indonesia are top players when it comes to the positive momentum behind cryptocurrency betting.
online gambling
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Speaking at the Bank of America Securities 2021 Gaming and Lodging Conference on Friday, 10 September 2021, MGM’s Chief Financial Officer Jonathan Halkyard said the company was actively steering itself towards an asset-light model that would see it focus primarily on gaming operations
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Their efforts come after Cambodia stopped issuing online gaming licenses from August 2019 and refused to renew existing licenses when they expired on 1 January 2020 following a directive from Prime Minister Hun Sen.
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A businesswoman incurred losses amounting to RM117,000 after falling victim to an online gambling syndicate she got acquainted with, via the social media.
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Once an ardent critic of all gambling activities, having quashed new casino developments in Boracay and Manila, Philippines President Rodrigo Duterte now considers gambling a necessary source of funds to fight the COVID-19 pandemic.
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Local authorities have cracked down on illegal online gambling dens in Phnom Penh’s Daun Penh district. The crackdown came as they violated the administrative measures and Health Ministry’s measures.
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The coronavirus pandemic has left many in India stuck at home during a series of total and partial lockdowns, and such isolation, combined with some of the world’s cheapest internet rates, has made it both tempting and easy to gamble online.
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Police busted an online gambling operation that netted US$3 million per month and arrested 19 people during a raid at a condominium building in Bangkok’s Bangkok Noi district.
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According to the Department, Guangdong province’s public security authorities have investigated and handled 966 cross-border gambling cases, arrested 1,034 suspects, destroyed 836 online gambling platforms and eliminated illegal payment platforms since China launched its crackdown last year.
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Hachiro Okonogi, Chairperson of the Liberal Democratic Party’s National Public Safety Commission, has denied suggestions that Japan’s IR legislation could pave the way for legalized online gambling while promising to continue cracking down on any such illegal activity.