China Says No to Sports Betting in the Country

china sports bettingChina is famous for being one of the top gambling destinations in the world, both domestic as well as gambling income generated from Chinese tourists offshore. But the recent initiatives taken by the government might put that into danger.

The domestic gambling market is heavily regulated by the government where lotteries are operated legally although there is mushrooming illegal gambling market in China.

Recently, the government announced that it would not allow gambling on horse racing or sports betting in the Hainan Province, contrary to the expectations of many people.

With the FIFA World Cup in 2018, sports betting saw a significant upsurge in interests from players in the country. This, in turn, has led to several arrests to dismantle the sizeable organised crime rings.

Macau is the only place in China where gambling is legal, but recently the tourism is shut down due to inclement weather conditions. But the figures continue to remain promising for the mass market gambling in the region.

Horse Racing and Sports Betting Banned in Hainan

In a report published by Bloomberg in February 2018, China was speculating to legalise lotteries or sports betting in Hainan which would further open the doors of gambling to players where a second territory would be added in which gambling would become legal in China.

However, such claims are dismissed by Liu Cigui who is the Secretary of Hainan Province of China. In a talk with the media, Cigui says:

Some online comments about opening casinos, allowing gambling and horse-racing, or copy from capitalism and adopt overall private ownership, are divorced from China’s reality and (they are) resolutely not allowed.

China had granted the status of a free trade zone to Hainan where restrictions on international investments would be lifted across several sectors like medical services and agriculture. But the gambling is only restricted to Macau at the moment.

Macau Recovering from Inclement Weather Condition

The Gaming Inspection and Coordination Bureau of Macau published the official figures for 3 months ending in September 2018. The report shows a yearly increase of 10.2% rising the figures to $9.2 billion. Revenue from baccarat casino game grew by 3.6% yearly for quarter 3 in the VIP market and by 21.5% in the mass market for a similar period.

This figure clearly shows that the VIP spending is on the slower side and the mass market spending is rising steadily. The statistics are quite promising given the unpleasant weather conditions in Macau. It means the figures could be much more if the Macau tourism were not hit with the natural disaster earlier this year.

China: One of the Big Spenders in FIFA World Cup 2018

It seems that the football tournament in the summer boosted the gambling efforts in China as approximately $7.5 billion was spent on sports betting during the world cup football tournament through legal Sports Lottery where tons of money was spent through illegal gambling.

One can get an idea about the scale of illicit betting during the Football World Cup 2018 which is evident from dismantling $48 billion illegal betting ring during the tournament. There was also an increase in cryptocurrency wagers placed by bettors during the tournament.

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