MGM Resorts secures $3.4B loan for Japan Resort
Working on a massive integrated resort in Japan, a group headed by MGM Resorts has successfully gotten a $3.4 billion loan from a group of banks. MGM Resorts...
Concerning rise in youth gambling addiction in Japan
The Society Concerned about Gambling Addiction, a Japanese nonprofit organization, has stated that the growth of online betting owing to COVID-19 has resulted in an increase gambling addiction among young people.
According to the Society, these individuals are now at a higher danger of resorting to criminal acts to pay off their accumulating debts, and the government should immediately enhance laws on online gambling.
The group issued a warning, stating that this tendency will probably lead to a rise in the number of young people who become addicted to gambling in the years to come. All gambling, including casino operations, is outlawed in Japan with the exception of wagering on motorboat bicycle, motorcycle, and horse races, which are regulated by the government.
Furthermore, even though such platforms are allowed in the countries where they are located, it is against the law for people in Japan to gamble online through foreign casino websites. The group also revealed that, between 2018 and 2021, the number of visits to illegal online betting platforms increased by over one hundred times. Online wagering accounts for from 70 to 90 percent of the revenue generated by government-regulated sports betting. In 2023, 479 cases involving gambling addiction and family members seeking treatment from the Society were examined by the study.
The majority of those battling addiction in these cases (78%) were in their 20s and 30s, which is a 14 percent rise from 2019—the year before the COVID-19 started. Online betting consultations, which include sports bets, accounted for 20.3% of the cases, a 16-point rise. In terms of government-regulated gambling, motorboat races accounted for 28% of the cases, an increase of 22.7 points, and consultations regarding bicycle races included 18.2% of the cases, an increase of 15.5 points. According to the study, the average debt that gambling addicts accrued in 2023 was $54,500.
Illegal online betting on Japanese high school baseball
People in Japan can now wager on the results of high school baseball games, including the National High School Baseball Championship, using websites located overseas.
...
