Chinese Online Gambling Business As Usual

Published Wednesday, September 11, 2013 - Online-Casinos.com
Chinese Online Gambling Business As Usual

There are many jurisdictions in the world that haven’t legalized or regulated the online gambling industry but could benefit by doing so. There are many advantages from the taxes gained to the sports that are sponsored and community projects that can help everyone enjoy a better standard of living.

The regulation of any industry does however require control measures in order for the industry to be operated fairly. This for a country like China may prove to be a task that would be easily accomplished where the internet is already controlled by the government for the most part.

Chinese authorities don’t like online gambling, which is why licensed and regulated Chinese online casinos are not an option any time soon. Even though there is a strict regime against the practice by censorship via the blocking of ISPs many Chinese online casino consumers are still successful in gambling outside of China, with some sites offering Chinese language versions. Chinese players are known for their use of U.S. dollars and other applicable payment methods to fund their accounts.

There are only two government sanctioned forms of gambling in the People's Republic of China and both are government controlled, but highly profitable lotteries. The first is the China Welfare Lottery which was launched in 1997, and the second is the China Sports Lottery which was launched in 1994. Combined, these lotteries generated huge profits, 75 percent of which were used to fund Chinese social welfare programs and the construction of new sports centers across the country.

All other forms of gambling are strictly prohibited in China and citizens caught running or even taking part in illicit casinos or betting activities face fines and possible imprisonment and in China people can receive very stiff sentences. Even though the penalties are so extreme 'underground' gambling in China is thought to generate revenues 20 times greater than those generated by the legal lotteries.

Related news

Return to Latest News