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Illegal gambling Leaves Huge Untapped iGaming Market in China

china gambling

It is common for people to associate China with a huge economy, what people don’t know is that China and the related Asian jurisdictions remains one of the many markets with untapped iGaming potentials. The legal betting that goes on in China and the region in Asia is that of two popular state controlled lotteries.

One is the China welfare in operation since 1997 and the China Sports Lottery launched in 1995 all funded by 75% of total revenues around China. Underground gambling in China is known to generate 20 times more than the legal lotteries which leaves 95% of the gambling to be unregulated in the massive Chinese pacific region. If this market was to be regulated, it could bring back voluminous revenues that could be taxed back to the Chinese authority. The situation in China is that the authority has blocked all access to offshore online gambling sites and prohibiting any internet service providers from providing access to gambling sites at the engine level.

Leading casinos however have made provisions for Chinese participants and even offer Chinese playing versions. In China, the government does not consider lotteries as a form of gambling therefore, there are countless illegalized activities ironically in a country where wagering is popular. Bodog, dafabet and 32red Casino have already proved popular with the Chinese players. The Chinese government is quite strict but for anybody who has a Smartphone, it is quite easy to access the gaming opportunities online.

There are over 500 million people with access to the internet. Chinese people were first allowed to place bets online in the FIFA world cup. The most appropriate move based on this information would be to regulate the amount of online gambling and harness the benefits that are associated with the potential increase in total revenues acquired. It is predicted to be over by 2000%. However, just like any other government that is deemed autonomous, the Chinese government has its own policies and set of ethics which they must abide by. They must resolve this before they can allow all the eager private operators and foreign expatriates to come and profit in the country.

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