Asia remains one of the most complex iGaming regions globally: huge populations and digital adoption create massive upside, while regulatory fragmentation means “market size” and “market accessibility” don’t always align.
Using Blask market intelligence (Countries dashboard export) Blask – Countries Asia, we’ve mapped Asia’s biggest and fastest growing iGaming countries using:
- YoY Growth (momentum)
- APS (projected acquisition power)
- CEB (projected revenue baseline)
- Casino status (regulated vs unregulated/prohibited)
The 10 Largest iGaming Markets in Asia (by CEB)
| Country | YoY Growth | APS | CEB (US$) | Casino status |
|---|---|---|---|---|
| Turkey | -23.46% | 27.80M | $8.73B | Unregulated |
| India | -1.08% | 19.09M | $5.19B | Unregulated |
| Philippines | +163.10% | 16.27M | $4.72B | Regulated |
| Indonesia | +5.95% | 3.50M | $3.93B | Unregulated |
| Japan | -47.85% | 582.88K | $3.28B | Unregulated |
| Vietnam | -0.22% | 21.90M | $3.04B | Unregulated |
| Thailand | -5.31% | 4.56M | $2.70B | Unregulated |
| Saudi Arabia | +120.90% | 1.22M | $1.43B | Unregulated |
| United Arab Emirates | +43.06% | 2.99M | $1.41B | Regulated |
| Singapore | +17.12% | 1.75M | $1.28B | Regulated |
What stands out: The “largest” Asian markets by CEB include several jurisdictions where casino activity remains unregulated. That’s important: CEB reflects modeled earning potential, not risk-adjusted revenue an operator can necessarily capture.
The 10 Fastest Growing iGaming Markets in Asia (YoY)
| Country | YoY Growth | APS | CEB (US$) | Casino status |
|---|---|---|---|---|
| Philippines | +163.10% | 16.27M | $4.72B | Regulated |
| Saudi Arabia | +120.90% | 1.22M | $1.43B | Unregulated |
| United Arab Emirates | +43.06% | 2.99M | $1.41B | Regulated |
| Malaysia | +35.09% | 1.22M | $517.18M | Unregulated |
| Qatar | +28.42% | 616.30K | $629.38M | Unregulated |
| Singapore | +17.12% | 1.75M | $1.28B | Regulated |
| Turkey | -23.46% | 27.80M | $8.73B | Unregulated |
| India | -1.08% | 19.09M | $5.19B | Unregulated |
| Vietnam | -0.22% | 21.90M | $3.04B | Unregulated |
| Thailand | -5.31% | 4.56M | $2.70B | Unregulated |
Important note: The Asia export provided is a single ranked list; within the markets shown, the clear YoY “breakouts” are Philippines, Saudi Arabia, and UAE. Several other large Asian markets in this view are flat-to-negative YoY, which is itself a useful signal for 2026 planning. Blask – Countries Asia
What the Metrics Mean
YoY (Year Over Year)
YoY reflects the percentage change in the total Blask Index value over the past 12 complete months, compared to the equivalent 12-month period one year earlier (calculated relative to the earlier period).
Use it as a clean momentum indicator: which markets are accelerating versus cooling.
Acquisition Power Score (APS)
APS represents an estimated acquisition range for a market/brand based on its Blask Index value, using market-level benchmark conversion assumptions.
It is a modeled projection (min/max/most likely acquisition volumes) assuming average market efficiency — not a direct observation of actual user acquisition.
Competitive Earning Baseline (CEB), US$
CEB represents an estimated revenue range based on projected APS, using benchmark assumptions for retention and ARPU.
Like APS, it is modeled (min/max/most likely outcomes) — not reported revenue.
Casino status
Casino status indicates whether casino services in a country are licensed and regulated under that country’s legal framework — or remain unregulated/prohibited.
This is crucial in Asia: two markets can have similar CEBs, but dramatically different risk profiles based on regulatory status.
Strategic Takeaways
- Philippines is the standout: a rare combination of high scale + explosive YoY growth in a regulated framework. Blask – Countries Asia
- Several of Asia’s largest modeled markets by CEB (e.g., Turkey, India, Vietnam, Thailand, Indonesia) remain unregulated, meaning execution often becomes a compliance/market-access question rather than pure demand.
- UAE + Singapore show growth with regulated status, positioning them as lower-risk strategic hubs even if they don’t match the raw scale of India/Turkey in modeled earning potential.
