Pachinko ban may lead Japanese gamblers to look to crypto

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Updated September 21, 2022 | Published April 9, 2020

2 mins read

With pachinko playing such a huge part of the restrictive Japanese gambling sector, the lockdown may cause a significant number of the blockchain-friendly market to look to gamble elsewhere, with crypto casinos in prime position.

The decision comes just a week after FunFair Technologies introduced Japanese localisation – a first for the company – to the country where the national currency, yen (JPY), is the second most traded FIAT currency against Bitcoin after the US dollar.

While the land-based suspension of pachinko parlours is significant, it’s unlikely to affect the vibrant online crypto gaming sector growing in the space, nor the integrated resort (IR) projects due to arrive at some point in 2024/2025.

Japanese Prime Minister Shinzo Abe and his government have declared a month-long emergency across several prefectures, including Tokyo, Osaka, Kanagawa, as well as four others.

A similar move was followed by others in the region with the Philippines ordering an extension to Luzon’s lockdown, the country’s most populous island, through April 30.

Roman

Roman is a big crypto enthusiast and a bigger sports fan, so crypto sports betting comes as a major interest for him. Has been involved with the gambling industry since 2017 and sees crypto as a major breakthrough for the payments side, specially beyond first world countries.

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