Aug 25 (newsonjapan.com) - Japan has always been famed as a country of many contrasts.
This is a land which is blessed with an abundance of natural beauty and profound cultural history, yet at the same time, highly regarded as an industrial powerhouse that is always at the forefront of modern technology. As japan.com explains, this is the land of endless discovery.
Now it seems the Land of the Rising Sun is undergoing something of a gambling revolution, principally influenced by changing perceptions and growing tourism competition. But having always maintained strict sports betting and casino gaming laws, what has encouraged Japan to begin revising their policies?
Betting & Gaming Culture Already Exists
Despite the rigidity of legislature surrounding different forms of gambling and betting, some activities have been present and widely accepted for generations. Walk through any major city in Japan, it’s hard to miss the bright lights and vibrant sounds of a Pachinko parlour. For those unfamiliar with the game, it’s kind of like a cross between pinball and slot machines.
Incredible as this may sound, according to an article published at businessinsider.com in 2018, Pachinko generates 30 times more in revenues than Las Vegas casinos. Likewise, there are more than 10,000 Pachinko parlours around the country, which generate an estimated revenue of more than $200 billion each year.
Pachinko is not actually considered gambling under Japanese laws, largely because of historical and cultural reasons, although the economic revenues and employment created also play their part. However, other forms of wagering are strictly regulated, such as the takarakuji lotteries held in prefectures and large cities, along with specific kinds of sports betting.
Known as Kōei kyōgi or public sports allow betting on four specific types of activities. These are horse racing, bicycle racing, speedway motorcycle racing and powerboat racing, with bets taken either at the event venues or via ticket booths in many of the larger cities. Heavily regulated, the prize pool usually equate to around 80% of all bets placed.
Momentum & the Incentive to Change
Interestingly, gambling has been part of popular culture in Japan for a long time, frequently depicted in manga comics and graphic novels, both anime and live-action movies, along with appearing in literature and video games. Given such widespread coverage in the most popular media forms, this has led to an increasing acceptance of gambling themes.
Growing public demand and stiffer competition for tourism are two key factors, which have led to lawmakers considering a more relaxed outlook for gambling laws, although this could take time. Bills have been passed to officially allow three integrated resort casinos, with Osaka destined as the first location, while Yokohama and Tokyo are expected to follow.
At present, online sports betting and casino gaming is considered something of a grey area. They can be viewed as illegal Japan, although laws are somewhat ambiguous and are never strictly enforced, which has encouraged overseas operators to offer their services to millions of Japanese clients. This makes choosing secure and reputable sites even more important.
Widely regarded as the most trusted online gambling portal serving the Asian continent, asiabet.org provides visitors with top casino and sportsbook recommendations. These are accompanied by honest reviews and in-depth expert guides, accurate legal advice and local insight for Asian gamblers, all based around helping people to make informed choices.
What the Future Could Bring
Given the forward momentum already bringing casinos to Japan, over the next few years, there could be a dramatic move towards embracing more elements of online gambling and sports betting. For the moment, the main priorities are to keep moving at a steady pace, laying strong foundations aimed at regulating the industry and protecting citizens.
Due to the established gambling culture in Japan, with betting on sports and casino games already regarded as popular pastimes, it’s not hard to imagine these being the biggest drivers of the entertainment sector in years to come. At the cutting edge of innovation, Japan has all the right ingredients in place to make this a huge success.
