The China Casino Tourism Market is estimated at US$ 10.234 Million in 2022 and is projected to reach US$ 22.30 Million by 2032, at a CAGR of 8.1% from 2022 to 2032.
Online gambling is the practise of wagering on casinos and other sports-related events through the use of the internet. Since computer programmes regulate the activity, there is no physical interaction between players when playing online. Sports betting, blackjack, poker, roulette, and slot machines are just a few examples of the games that may be played online.
These games can be accessible through a website or downloaded using gambling software on a computer. Due to its accessibility from any smart device, cashless transactions, real-time gambling experience, and ability to set players’ own spending limits, online gambling has become extremely popular in China.
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The legalisation of online gambling in China is the main factor driving the industry for this type of gambling. For the purpose of regulating and policing online poker, casinos, and sports betting businesses, the government has adopted new rules and regulations. Consumer interactions with domestic and foreign gambling websites and mobile applications are developing as a result of expanding internet access and increased urbanisation.
Additionally, the nationwide coronavirus illness (COVID-19) outbreak has raised interest in online gambling as a form of pleasure while upholding COVID-19 guidelines including social seclusion. Additionally, this has caused a substantial movement away from traditional land-based betting and toward the online gaming industry.
“China will drive the casino tourism market by providing technological advancement in virtual reality and block chain tools are the key factors driving the growth of the Market.” Says an FMI analyst.
Key Takeaways:
- Through 2032, Punto Banco is expected to hold a significant market share in terms of Game type.
- Age-wise, through 2032, demand will continue to increase in the 35 to 50-year-old range.
- Nearly 15 million tourist visit China for casinos every year.
- Based on type of tourist, International tourists will continue to grow in the forecasted period.
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Impact of COVID-19
The coronavirus is having an effect on the gambling industry. Due to social isolation, professional sports have been suspended, brick-and-mortar casinos have closed, and home games have been abandoned.
The gambling sector has already felt the effects of COVID 19 very heavily. How long gambling websites will enjoy their current success is impossible to predict. Land casinos all over the world have seen a significant reduction in revenue due to social isolation and travel limitations. As the coronavirus outbreak grows, it is anticipated that the number of visitors to China’s casino resorts would continue to decline. Mitigating measures could partially prevent the potential of spread by checking specific boxes.
Who is winning?
Leading players operating in the China Casino Tourism Market are Thrillophilia.com, Kayak, Travel Triangle, Veena World, Milesandsmilesholidays, Tripadvisor, TourRadar, Holidify Travels Pvt. Ltd., Agoda, Yatra.com, chinadiscovery.com. among others.
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Future Market Insights, in its new offering, provides an unbiased analysis of the China Casino Tourism Market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032.
The study divulges compelling insights on China Casino Tourism Market by Game Type (3 Card Poker, American Roulette, Blackjack, Casino Stud Poker, Dice, Punto Banco, and Others) Casino Type (Commercial, Tribal, Limited Stakes, and I-gaming) End Users (Gambling Enthusiasts, Social Exuberant, Dabblers, Lottery Loyalists, Unengaged Audience) Age Group (18-25 Years, 25-35 Years, 35-50 Years, 50-65 Years and 65 Years and Above) Tourist Type (Domestic and International) Consumer Orientation (Men and Women) Tour Type (Independent Traveller, Package Traveller and Tour Group) – Forecast to 2022 – 2032.
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