Gambling has been banned in Japan for the past 150 years. Recent moves may pave the way to legalizing land-based and online gambling to a potential Japanese audience of 130 million.
Far East locations such as Singapore and Macau are gambling havens. Other countries in the region, such as Japan and China have banned the practice for decades. However, there appears to be a movement towards deregulation.
Painful
History
During the Edo period (1603-1868), Japanese
society experienced great trauma through its open gambling policy. Many
Japanese ended up selling their daughters into slavery to pay off their
gambling debts. As a result, in the late 19 th century, Japan decided
to make the practice of open gambling illegal.
Boom and Bust
Following the Second World war, Japan
experienced rapid growth, and the government's coffers swelled from tax
revenues. However, since the early 1990s, an economic downturn has persuaded
government officials to look for new sources of funds. One of these is the
potential tax income from legalizing online and land-based gambling.
A Nationof Gamblers
Traditionally, Japanese people have been keen
gamblers. In spite of the government ban on casinos, other ways of having a
flutter do exist. These include horse, motor car, and bicycle racing where
gambling is permitted. Additionally, parlor games such as Mah Jong and Pachinko
are officially sanctioned. However, these activities bring little tax revenue
to the government.
Yakuza
In spite of the official government ban on
gambling, many illicit casinos do exist, particularly in the red lights
district of Tokyo. These small casinos are normally housed in bars and seedy
massage parlors, but feed the gambling needs of local and visiting businessmen
to the area. Controlled by Japan's infamous mafia or Yakuza, these
organizations would have much to lose if casino gambling became legalized.
Gold
Mine
Many Japanese officials and businessmen believe
that legalizing casino gambling would produce a potential gold mine. Conservative
estimates put tax revenues at around 1 billion US dollars just to build six
public casinos at the Japanese seaside resort of Obaida alone. With the
increase in tax income and potential knock-on effect to increased tourism, the
question is not if the Japanese government will open the doors to online and
land-based gambling, but when.
Blackjack
Slots
Roulette
Baccarat
Craps
Poker
