Taking a Leap Into the Online Gaming Landscape of Singapore
Online gaming is now spreading like wildfire, and it has become more popular over the years because of the rewarding prizes players can get after each tournament, which are often monetary. For instance, a Danish player called Johan Sundstein has earned about $7.18 million in his eSports gaming career, making him the current highest-earning individual professional gamer. Undoubtedly, eSports has had a tremendous influence by boosting online gaming.
Of course, as with most parts of the world, online casino gaming and mobile gaming are both taking off in Singapore too. Here’s a look at how the online gaming industry is exploding in Singapore recently.
The Leap – a Brief Overview
Although online gaming has become more popular despite the many restrictions that have marred it for a long time, the online gaming world is expected to grow in years to come. Singapore is making that growth happen with the shocking revenues it makes on online gaming.
According to a report by Statista, Singapore’s online gaming market is warming up for remarkable growth in the future, with a likely revenue of $253 million by the end of 2023. Also, the gaming market is predicted to keep growing at a yearly rate of 14.29%, meaning it’s expected to reach about $431.6 million by 2027.
The thing is, Singapore’s online gaming industry spreads beyond its native market, making considerable contributions to the global online gaming scene. The existence of 83 game designers, marketers, producers, and creators in Singapore shows its growing base as a hub for online gaming.
Global players such as Riot Games and Ubisoft have created solid footholds in the country, while local firms such as Razer continue to make substantial strides. That collaboration between local and international gamers fortifies Singapore’s online gaming ecosystem, encouraging innovation, alliance, and further development.
Singapore’s Casino Gaming Scene
Singapore’s casinos were worth $1.8 billion in 2021, accounting for 1.5% of the global market size. However, online casinos have typically been unavailable for residents, perhaps thanks to sizeable income from the region’s land-based casinos, which online offerings may detract from.
Now, sites based overseas are opening their doors to Singaporean players, and they’re proving highly popular. As with many parts of the world, slots (also known as pokies) are one of the most common games found at casinos included on a list of sites for Singapore players.
Singapore’s online casinos don’t just offer slots; they also offer regular games like roulette and blackjack. And, while these are popular and fun games to play, these sites are also often home to live dealer games. These games give players the feeling of visiting one of Singapore’s glitzy casinos without having to pay the S$150 entry fee.
Top Mobile Games in Singapore
In Singapore, it was found that 74% of men and 68% of women play mobile games, so the potential for the market here is clearly massive. Singapore’s favorite mobile games are similar to many other parts of the world. And, as with most of Southeast Asia, Mobile Legends: Bang Bang ranks very highly in the number of downloads on the Google Play Store. Worldwide, the game was installed over a billion times, so Singaporeans are clearly part of a global trend. Other titles within the top 10 most-downloaded from Google Play include Monopoly Go, Genshin Impact, Arknights, and Roblox, again, games that are popular almost everywhere you look.
One casino game also landed within the top 10 list, but as we’ve seen above, real money casinos are also hugely popular here. As you’d expect, Singapore’s online casinos offer mobile gaming options, considering almost everyone has a smartphone, tablet, or both. Now, people can enjoy their favorite casino games on the go, and that freedom to play games anywhere has influenced the trend of online gambling significantly. That reflects the industry’s vow to provide convenient and flexible gaming options.
What Is Contributing to Singapore’s Achievement in the Online Gaming Industry?
There is no denying the massive improvement that has been recorded in Singapore’s online gaming landscape over the years. However, to fully understand the extent of these improvements, it is vital to consider major factors that are facilitating and sustaining this growth:
The Government’s Support for Online Gaming
The Singaporean administration has shown excellent support to the online gaming industry by aggressively encouraging its development through numerous initiatives and comprehensive policies to back them. Identifying the vast potential of online gaming, Singapore has intentionally positioned itself as a provincial gaming hub, successfully tempting famous global studios like Riot Games, Bandai Namco, and Ubisoft to make their, most likely, permanent presence in the region.
Singapore’s Promising Business Landscape
So far, Singapore has been constantly receiving accolades and top rankings because of its flexible policies for businesses, which provides an independent authentication of its pro-business posture. The country has a healthy cutting-edge infrastructure comprising transportation, telecommunications systems, networks, and contemporary facilities, providing a favorable atmosphere for business processes.
Research And Development in Nurturing Innovation
The government’s firm support for R&D (Research and Development) activities and the use of technology encourages the study of innovative design concepts, technologies, and gameplay methods, fostering a landscape of constant innovation. This provides a healthy foundation for gaming sites to build on and a guide for gamers to maximize when playing to win big.