China asked Southeast Asian countries to ban online betting and online casinos in their territories. Some nations agreed with China. As a result, there’s a decrease in online gambling in Southeast Asia. Economy experts saw a decline in property value in those nations.
For instance, there’s a property bubble bursting in the Sihanoukville region after the so-called Chinese exodus in Cambodia. It came after the nation’s Prime Minister called for the total ban of online gambling last August 18.
However, some countries defied China’s call for a ban on online gambling in Southeast Asia. The Philippine president stated he will still support the online gaming industry, which brings a lot of tax revenue money for the country.
Online Gambling in Southeast Asia
Per head sportsbook and other types of gambling are illegal in China. However, that doesn’t stop its citizens from accessing gambling sites. Online gambling centers opened in various Southeast Asian nations that cater mostly to Chinese nationals.
Often, gambling syndicates operate online gambling hubs and hire Chinese nationals as employees. As a result, many Chinese citizens enter countries where online gambling firms operate.
With the influx of Chinese nationals, rental prices for both residential units and office spaces in the countries increased. However, implementing a ban on bookie pay per head, online casinos, and other online gambling operations can lead to a drastic decline in real estate value.
In Cambodia, the property sector in several provinces took a toll after the departure of thousands of Chinese nationals. For instance, buildings in Sihanoukville that were rented out for $20,000 monthly remained unoccupied even if the landlords brought the rate down to $8,000 a month.
It is the opposite of what’s happening in the Philippines. The influx of Chinese workers in the country drove up property prices. There were stories of Filipino families moving out of their homes and rent them out to Chinese nationals.
However, local property experts don’t think it is a sustainable business model. With the crackdown on online gambling, there will be a property market cooling down. Property owners in the Philippines should diversify their investment portfolios.
One way to do so is by starting an online sportsbook. If they don’t target the Chinese market, their bookie business can be sustainable in the long run. Just make sure to read and compare bookie pay per head features to find the right one for your business.