The US market is closed for online poker and the poker sites have been targeting Europe for a while. However the next big thing in poker could be upon us: Asia.Australian Joe Hachem's big 2005 WSOP win inevitably triggered increased interest in the game Down Under, and lifted the attention of people in the Asia Pacific towards poker. Those in the poker industry in established countries see the vast opportunity for bringing poker competitions to Asia.
Asia has, in the 9 months prior to the writing of this article, seen at least 3 new tournaments being held around the Asian continent. The biggest of these was the Asian Poker Tour event held in Singapore and the latest was in Goa.
The APT in Singapore was held in advance of the development of two new casino based resorts. The resorts are major commercial and residential property developments introduced by the Singapore Government as its latest initiative to drive the Singapore economy and to grow Singapore into a major tourist destination for the region.
Singapore is not the only destination in Asia with a draw for the poker player's dollar though. Macau has, less than a decade after the liberalisation of its casino restrictions, recently surpassed the dominant Las Vegas as the highest revenue generating gambling destination in the world. There are benefits to introducing casinos and poker to the Asian region still enjoying rapid economic growth and populated by some two thirds of the world's population. For Macau that real and tangible benefit is the result of its proximity to Mainland China and its now wealthier consumers as China continues to industrialise and convert from an agrarian based to a consumer based economy.
All the signs are that poker can be bigger here than it could ever be in Europe and North America. Economic growth rates are higher, consumer disposable income is rising and consumer numbers are vast. Indeed, with the recent passing of the Unlawful Internet Gambling Enforcement Act in the US, several major companies have adopted the policy of completely restricting US citizens from playing in the US. The result is that these companies are actively promoting their poker games to Europe, Australia and Asia as well.
Asia will have its challenges in the development of this industry. Many countries are of conservative values ( notably Indonesia ) or are still staunch in religions or beliefs and hence may look poorly upon poker. Of course, the starting perception of poker is as part of gambling and betting and gaming. However, these are no different from issues faced by poker players in other continents. There is likely to be a further rehearsal of the oft repeated argument in the Western world over whether poker should be seen more as a sport due to the element of skill versus the high element of chance involved.
In any event, as we see from the many tournaments and casinos sprouting around Asia, those within the gaming industry that do not get into the region (with the right regulations and balance) risk losing out.
Poker is coming to Asia, but will Asia’s authorities in the medium term embrace poker?