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Japan Is Expected to Legalize Betting on 2 Popular Sports

29 April 2021, 15:32
Votes: 2

As it has been informed in the recent betting news, the Japanese government is committed to finally legalize some of the bookmaking market sectors.

Japan Is Expected to Legalize Betting on 2 Popular Sports

Currently, the range of betting products, which are allowed in the country, is very limited. Japanese punters stake mostly on pachinko, horseracing, cycling, and some types of racing if to consider legitimate betting. However, they also use the services of offshore operators to wager on favorite sports.

Demand for sports bets is extremely huge

Although pachinko also attracts some of the punters, its revenue is decreasing as customers want to place traditional bets on sports events. Such a situation means that the revenue generated by Japanese bettors goes beyond the country because they wager on overseas websites.

It has been estimated that the legalization of at least two sectors will lead to the creation of a 65-billion-dollar market. They are football and baseball, and bettors from Japan are interested in them most of all, inventing methods how to find loopholes and stake on them at illegitimate casinos. That is why the land of the rising sun has decided to reconsider its attitude to the bookmaking vertical and add more opportunities for players. The government is going to revamp the betting regulations, which will draw the attention of the international gambling companies that are already interested in Japanese basketball, according to some surveys.

Read more: Pros and cons of sports bets           

Read more: Historical facts about betting on horse racing

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