As the gambling business news informs, new gambling jurisdictions emerge one by one in a global market. While these new markets are exciting to explore, strict regulations may complicate the work of casino and betting operators.
Michael Boettcher, a founder of Storm International, has talked about the peculiarities of Asian gambling markets and highlighted the impact of overregulation on the casino sector.
In your opinion, which markets could have a good potential for development?
We’re going to focus on opening casinos in Myanmar, next to Thailand.
What are the specifics of working in Asian markets if compared to the US or Europe?
It’s hugely different: the games are different, the people are different, the weather is different.
The regulatory situation is different. Asia is much more open than Europe and the US, it’s freer. And Europe is overregulated and is run by people who just want to regulate. That’s their whole function – it’s regulation. The regulators are the ones who own you. That’s evident in many states.
Could you tell our readers about the research and groundwork that is done before entering the new market?
As you would do for any business: you look at the demographics, the history, the financial status, the legal system, political, education systems, staffing, everything.
Which type of games of chance in the most popular in the gambling market of Asia?
It will be table games. Baccarat, mostly.
What could you can you say about new trends, like crypto betting and crypto gambling?
It’s a new world of gambling. It’s got nothing to do with traditional casinos or online. It’s the same as a new generation. It’s what we live in now, it’s all about mass media, it’s all about technology.
What are the main benefits of the open market if compared to the monopoly?
Competition. Competition makes you stronger.
In your opinion, how gambling operators can live up to the competition, working in the regulated markets?
With difficulty. The more regulated the market is, the less money you make as a company. The more the government interferes, the worse it is for everybody. Except for the government, of course, because they just take everything.
How can an operator build efficient communication with gambling regulators?
It should be an open dialogue. I’m happy to speak to the regulators if they listen.
There are the associations of operators. They exist in most countries and lobby the government whatever they need to lobby. But the relationship between government and business has always been difficult: we don’t trust them; they don’t trust us. And it shouldn’t be that way, we should work together. It should be a balance. Some countries manage it but not many. I can’t think of any at the top of my head. America used to because it was the “can do” country, anything’s possible there. But as the years go by, it is the same stuff, the same government control. American industry is starting to have these problems with the regulators, more and more, and it’s going to be much worse.
Read more: Betting Affiliate Programs
