Gaming Market Insights Series #9: Bangladesh — What does the future hold for online lottery and gambling in Bangladesh?
Tags: Lottery, Business, Bangladesh, Gambling, Bitcoin

Gaming Market Insights Series #9: Bangladesh — What does the future hold for online lottery and gambling in Bangladesh? Quanta Follow Oct 21, 2016 · 2 min read

In the Asia — Pacific region, along with Indonesia, Malaysia and Brunei, Bangladesh also claims huge population of Muslims. It is estimated that there are over 126.7 millions Muslim Bangladeshis, equivalent to 86.3 % population of the whole country. Dominant Islamic culture also leaves a unique footprint on Bangladesh economy and gambling industry.

Although Islam does not allow betting and those convicted have to suffer extremely harsh punishment, opportunities thrive in other fields of horse race betting, lottery and online wagering.

Freedom within the stringent law

Lottery is considered another form of legal gambling in Bangladesh but surprisingly there is no official state-owned or state-operated lottery protocol. Still there are several private companies offering various kind of lottery games, most of them garnering significant funding under the course of charity.

Online lottery is also legal in Bangladesh but there are no local online lottery operators here as the government doesn’t grant license. However players from Bangladesh can freely access foreign online lottery websites which are open to players from Bangladesh such as USA Powerball, Superenalotto, Euromillions online lottery etc.

Technology brings about various ways for players to join online lottery under various payment schemes. Using cryptocurrency as a payment method is foreseen to be a popular option in the future. Worryingly, Bangladesh government cited concerns over cryptocurrency as their people might get “financially harmed”, which leads to their existing ban on trading in Bitcoin and other digital currencies. People convicted might be sentenced up to 12 years in jail.

Future outlook

Bangladesh might not look like the best place for lottery operation at the moment. However opportunities flourish in places of exuberant challenges. The government has now become more flexible with lottery regulations and taking into the account the thriving online lottery and cryptocurrency movement, we can put more faith in a brighter and better future for gambling and cryptocurrency payment in this emerging country on the world’s gambling map.

Dhaka cityscape in 2016

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