For many years, gambling in any form has been frowned upon in many countries. This did not stop avid fans of this type of entertainment, and over the past few years, the gambling industry, especially online casinos, has turned into a profitable business. Taking into account that this industry generates huge profits every year, many countries have reconsidered their position in relation to this industry.
More and more regions are changing their gambling laws, making bets for the benefit of the state, and creating a space for a responsible attitude to gambling among their citizens. Japan, also known as “the Land of the Rising Sun”, is one of the many countries that has promising prospects when it comes to gambling in land-based and online casinos.
History of gambling in Japan
Japan is one of the countries that has had gambling laws in place since the early 1900s. It is no secret that Japan is a state with a constitutional monarchy, or that the power granted to the emperor is largely ceremonial and therefore very limited. Since the first years of the gambling business, citizens of the country were allowed to participate in gambling only in those organizational and legal forms that were approved and recommended by the leading party.
At first, they were only allowed to place bets on events such as:
- bicycle race
- horse racing.
Later, two more sports were added to them, namely, boat and motorcycle sports. In addition to these forms of gambling, there was another form of gambling that was legal for a longer time – the lottery.
Lottery appeared in Japan in the mid-17th century. It was only in 1842 that the game at the national level was briefly discontinued, resuming after the World War II. The main idea behind restoring this form of gambling was to raise enough funds to repair the damage caused by nuclear explosions.
For a long time, the government was completely opposed to legalizing land-based casinos or any other gambling, including the online format. For your information, a group of avid Japanese gamblers do not hesitate to go to foreign playgrounds, and do not hesitate to choose if it is solely about it.
Due to the intention of Japanese citizens to find more flexible terms on gambling sites, as well as their land-based options, the leading party was forced to reconsider its position on gambling. That is why Japan is in the process of legalizing an increasing number of types of gambling entertainment. The procedure for legalizing gambling began in 2013, but only at the end of 2016, the Japanese Parliament adopted a corresponding law. Legalization itself was a historic event, as situs judi casino online terpercaya put an end to 15 years of political disputes.
Many believe that the rules of gambling have been changed and supplemented to take into account the revenue that the gambling industry can bring. According to research by the Daiwa Research Institute, only 3 casinos can generate $10 billion in net profit per year. The current changes in legislation have revived many international gambling companies, as they have been looking to invest in Japan for quite some time. But even with the new bandar casino online legislation, it will take some time to get started.