Recently, the Japan Motor Boat Racing Association revealed that they saw a huge increase in sales and users during the year 2020. An annual report showed the sales had peaked at an impressive JPY 2.09 Trillion (USD 19 Billion). This was a 35.7 percent increase from the previous year. The total number of transactions were 378.2 Million, recording 8.2 percent increase in 2020.
This rise in revenue has been mainly credited to the widespread internet usage during the COVID-19 pandemic. The move from offline gambling to a better accessible online gambling format gave the gambling industry in the country a boost. It was also reported that the inflow from the pachinko/pachislot industry contributed to the growth as well.
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The 2020 report is the first time that the annual sales for boat races have broken the JPY 500 Billion (USD 4.5 Billion) mark in 28 years. The last time this happened was in 1992 when sales reached JPY 2.08 Trillion (USD 18.9 Billion).
However, while the 2020 numbers are quite impressive, the highest record was set in 1991 where the sales soared to JPY 2.2 Trillion (USD 19.9 Billion). Along with this, the Japan Racing Association has also reported a 3.5 percent increase in sales in 2020 with JPY 2.9 Trillion (USD 26.3 Billion). The sales in 2021 have also been reported to start out in a similar remarkable fashion.
This gives us a glimpse into Japan’s lucrative gambling market. Regulated by the government of Japan, the industry was one of the few in the country and around the world that benefited from the COVID-19 pandemic.