According to reports in the Financial Times, the Japanese government has started to discuss the potential legalisation of gambling on baseball and football in the country. These talks are internal and top secret but are causing quite a stir in the industry.
There has been a longstanding taboo against these kinds of opportunities for people in Japan, but things seem to change in the future.
Based on report of the Financial Times, a combined sports betting market to be worth more than US$65bn could be created in Japan over the next few years. By 2024, there could be sports betting on the Nippon Professional League baseball, assuming everything goes to plan with the deregulation.
It is also expected that there will be fuller deregulation of betting on the J-League which does already have a pool-style lottery system in place.
It is common knowledge that the legalisation of sports betting has seen a lot of resistance in Japan over the years and so this move might come as a bit of a surprise. However, when it is considered the fact that the professional sports betting industry in Japan lost over US$2.5bn last year due to the cancellation of games in a COVID-19 world, it is clear why they might consider this now.
The sensitivity towards betting on football and baseball has been lowered because of the pandemic and the damage that it has caused. While it is possible to bet on horseracing, motorboat racing, motorcycle racing and cycling, other sports haven’t yet been approved in the country.
This vertical would open up and more opportunities for operators and affiliates, as the Japanese market could be extremely profitable for anyone who gets involved.
Source: GMB / Finantial Times / Affiliate Insider
