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From the World Cup to a family occasion, the Chinese love to play. Despite this mature relationship with gambling, casinos are banned in mainland China.
While Macau, a Chinese territory, continues to shine with Chinese money (it overtook Las Vegas in 2007), the government refuses to consider the
Lotteries in China
This led to an increase in the lottery in recent years as people seek a legal outlet for their gambling needs. China has two lotteries to choose from, the sports lottery and the welfare lottery. Both fund important projects in the country and contribute in part to the Olympic success for which China is famous
The government does not consider lotteries as games and seems convinced that Macau and Hong Kong offer opportunities for potential bettors. Indeed, the government has announced a recent crackdown on online poker tournaments, driving the game underground.
Bitcoin as an alternative
The rise of Bitcoin offers an alternative. Very popular in China, it is considered a way to invest and increase badets. Bobby Lee, co-founder of BTCC, one of the largest bitcoin exchanges in China, said: "The Chinese lack many investment opportunities. Bitcoin is a volatile and fast-growing badet clbad. In some ways it is a very interesting opportunity to make money.
But the crackdown on cryptocurrency continues as new currencies become more and more popular with players because of their difficulty in tracking them down. Police raids
The increase in the popularity of cryptocurrency bets has led police in Asia to crack down on unauthorized operators during the World Cup. In China's Guangdong province, police recently made 540 arrests related to a large online gambling operation. It is reported that the deal processed $ 1.5 billion (£ 1.14 billion) bets during the event.
The police were informed of the operation earlier in May and had been investigating since, which resulted in the discovery of more than 20 local operations. across China. Large amounts of badets were seized during the operation. This comes shortly after the Chinese communication platform WeChat has closed about 50,000 accounts to be linked to illegal World Cup-related bets
Football World Cup
Sports betting has seen an increase sudden. The World Cup in Russia
In the three weeks leading up to July 1, the Chinese bet the equivalent of $ 4.3 billion (3.26 billion pounds sterling), six times more than the previous three-week period. It is believed that by the end of the tournament, the country will have generated bets of $ 10 billion (7.6 billion pounds) if the numbers fall in line with the 2014 event.
These figures include only legal bets online, but it is Although China does not have team in the tournament, a lottery owner told First Post that more than ten times the usual number players were bet illegally during the same period. The sum of the bets was processed daily by their company during the event.
According to the same source, people who had not bet before join now, because the growing interest in the sport brings fans and spectators to make the money of their knowledge and their predictions. From big screens in fast food restaurants and kids playing at school, football is growing tremendously in the country even though China has not had a team in the World Cup tournament for 16 years.
exit to control his betting needs; Macau might not be enough. Perhaps, instead of having a chilling effect, these arrests are simply intended to legitimize the gambling needs of the nation.
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