Japan’s ruling Liberal Democratic Party (LDP) is preparing a bill focused on responsible gambling. The authorities started considering this project only three months after the gambling legalization. The bill is to have been considered by the end of March.
In addition to measures aimed at preventing problem gambling, the bill provides for the regulation of a number of horse racing events as well as the sale of betting tickets. The central and local authorities of Japan intend to promote the idea of a responsible game as well as methods for anticipating gambling addiction among the population.
According to experts, gambling revenues may exceed $ 10 million this year. According to Ryosuke Kozuki, LDP lawmaker, casinos will play an important role in implementing the strategy to attract tourists. It is planned that by 2020 the annual flow of foreign visitors will increase to 40 million.
Let’s remind that in late 2016 Japan legalized casino-resorts. According to the Union Gaming analysts, it will be the second largest market in Asia, second only to Macau. Analysts predict a small decline in Macau gambling industry for the first two years after the launch of Japan’s gambling resorts as VIP customers will want to visit the new casinos. Experts find it difficult to estimate the potential size of the Japanese gaming market due to lack of important variables for analysis: whether or not locals will be allowed to gamble, the number and location of licenses, the tax rate, etc.