Asia Pacific found to have most potential growth for online gambling over next five years

Despite the fact that online casinos are currently illegal in Singapore, PricewaterhouseCoopers' recently released figures that found the Asia Pacific region will be the fastest growing area in the online gaming industry over the next five years, Casino.com reports.

The region is expected to see a growth from $34.3 billion now, to $79.3 billion in revenues by 2015. These are numbers that Singapore might miss out on if the government doesn't give in and allow its citizens the option of the recreational activity.

Gaming analyst Jonathan Galaviz adds that the ban on online gambling in the country hasn't stopped its citizens from wagering on online games like poker, blackjack or online slots. Instead, they just opt to play on unregulated, unsafe sites.

Galaviz is urging the government to consider the repercussions of their actions as he feels it is much safer for them to award legitimate sites with licenses in order to protect the citizens, according to the source. Others within the industry oppose those who think like Galaviz, believing there will be real consequences if gaming is legalized.

Felix Ling, a senior partner and casino consultant at Platform Asia Management Services told the website that legalizing gambling will have a "devastating social impact." Mainly because it will bring in new people who don't fully understand the concept, leading to addiction or other problems.

Do you think Singapore should legalize online gambling? If they don't do you think more citizens will pick up the activity illegally?