Casinos in Macau

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Introduction

Today we will focus on one of the most popular and most exciting regions in the gambling industry.

The Las Vegas of the East, Asia's Monte Carlo, the Gambling capital of the world, or simply Macau generates more gambling income than any other city around the globe!

However, let's go back in time...

Macau is now the People's Republic of China's special administrative region, but did you know that it was leased to Portugal back in the 16th century, to be precise in 1557? Macau was returned to China in 1999, but there were no changes to the gambling policy, so it became the only place in the entire country where gambling is legal.

History of Gambling

Macau had legalized gambling as early as 1850 when it was still a Portuguese colony. At that time, the most popular and only game was Fan Tan, so there were even over 200 Fan Tan saloons in 1900. In 1962, SJM, led by Stanley Ho, secured monopoly rights to all gambling activities in the region, which led to significant transformation.

First of all, SJM built and operated several casinos including Macau's landmark Casino Lisboa. Western-styled games were also introduced and what is perhaps most significant, the ferry system between Hong Kong https://jswqzs.com/restrictions/hong-kong and Macau was improved, helping more players to join this city. Today, the connection with Hong Kong is established by the longest sea bridge in the world, which spans 55 km! The bridge includes a 6.7 km underwater tunnel that allows ships to pass through.

Nevertheless, this era lasted until 2002 when Macau opened its door to foreign casino operators. The giants immediately took advantage of the situation with Las Vegas Sands, Wynn Resorts, and MGM Mirage joining among others.

Nowadays, gambling in Macau is its biggest source of revenue, accounting for about 50% of its entire economy!

With visitors from all over the world, 90% of its tourist revenue comes from gambling, making it a true gambling capital of the world. In the last 20 or so years, its worst period was during the COVID-19 pandemic. Then the number of tourists on a monthly basis dropped from around 3 million to under 1 million, even though it was among the safest places in the world in that period. Fortunately, the 'golden period' returned very quickly, and already in 2023 gross gaming revenue jumped to $22.3 billion, according to Finance Asia.

Legislation and Jurisdiction

The legislation and jurisdiction of gambling in Macau are well-structured. The first gaming law was called simply - the Gaming Law (Law No. 16/2001), which provided the basis for licensing, operations and oversight.

Administrative Regulation No. 26/2001 sets forth the requirements for casino gaming operations, with details about the licensing conditions and the obligations of concessionaires. Additional regulations address specifics about the credit issuance in Casinos (Administrative Regulation No. 6/2002) as well as strong measures for preventing money laundering and terrorism financing in gaming activities.

As for regulatory bodies, the Gaming Inspection and Coordination Bureau (DICJ) oversees all gambling activities in Macau. It is responsible for almost everything - from licensing, regulating and monitoring, to inspections, investigations and penalties. The Legislative Assembly of Macau, on the other hand, ensures that the legal framework adapts to address emerging issues and maintain the integrity of the industry.

Overall, thelaws are strong so operators must meet strict criteria to get and keep a license in Macau.

Also with the developments in the online gambling world, The Macau government strives to include the regulation of online gambling and the integration of technology in gaming operations.

Popular Spots and Games

Macau, although a small regions, hosted several major international sporting events, including the 2005 East Asian Games, the 2006 Lusophony Games, and the 2007 Asian Indoor Games!

Perhaps the most popular competition is the Macau Grand Prix, which is very similar to the Monaco Grand Prix circuit in Monte Carlo, because it also uses city streets as the racetrack. The streets of Macau hosted some of the most popular drivers in history such as the Schumacher brothers, Ayrton Senna, Mika Häkkinen, David Coulthard, Lewis Hamilton...

Considering the popularity of sports in the area, sports betting is also regulated and is an essential part of its gambling industry.

Football is, like in other parts of the world, the most popular sport for betting in Macau and it covers all the major leagues and tournaments (Premier League, UEFA Champions League, the World Cup...). Of course, other sports are not neglected either, such as Basketball (mostly NBA), tennis, motor racing and others. Macau Slot, which was established in 1989, is one of the main operators for sports betting, as well as, of course, The Venetian Macao. The Venetian Las Vegas' sister casino has one of the largest floor spaces in the whole world and is an indispensable part of the entertainment in the city.

Horse racing is also very popular in the area, and the key player in the local market is definitely the Macau Jockey Club.

Macau has more than 40 casinos in total. The main casino operators in Macau are SJM Holdings, Galaxy Entertainment Group and Las Vegas Sands.

Of course, players have at their disposal a wide array of games 0 from roulette, blackjack, and baccarat to keno and slot machines. It is interesting that punters in China most often enjoy classic table games, where Baccarat stands out as by far the most popular. Slot machines, on the other hand, bring only about 5% of annual gaming income.

In August 2007, live dealer poker cash games became available, making Macau a truly diverse gambling destination. The first live poker tournament was the Asia Pacific Poker Tour Macau, which was held already in November of the same year, and after that various tournaments were hosted across the area.

Banking

Before making a deposit, players need to have an account with the bank. After a standard procedure, you can deposit funds via several methods that include:

• Cash Deposit
• Check Deposit
• Wire transfer
• Online Banking
• Mobile Banking

It's important to note that, still, Macau does not recognize cryptocurrencies.

To Conclude

Finally, it is enough to mention once again that Macau generates more gambling income than any other city in the world! It is definitely the premier destination for gambling enthusiasts with its world-class casinos and diverse gaming activities. It is the Gambling Star on the world stage and its growth and innovation promise to continue its upward trajectory for the years to come!