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Euro 2016 Causing Major Betting Spike in China

Sunday July 3,2016 : EURO 2016 FOOTBALL CAUSES MAJOR ONLINE BETTING SPIKE IN CHINA
 
Despite multi-million dollar busts by the polkice, Chinese punters continue to find a way to wager.
 
The Euro 2016 football championship in Europe continued to generate intense Chinese betting interest this week as the quarter finals approached, creating a spike in illegal online gambling despite major police gambling ring busts and crackdowns on suspected gambling activity by technology and ecommerce giants Alibaba and Ten Cent.
 
The Reuters news agency reports that groups of friends have been using Wechat for friendly wagers, paid out through Alibaba-linked Alipay, WeChat or red packets… digital versions of traditional envelopes stuffed with cash.
 
Chinese police say they have seen a surge in illegal gambling online. In a single bust last week, police in southern Guangdong province arrested 147 people and froze funds worth nearly 100 million yuan ($15 million).
 
Tech giants Alibaba and Ten Cent say they have specific tiered systems designed using behavioural patterns to identify and halt suspected gambling, and that these are backed by human monitoring. A spokesman said that more staff are being added to counteract gambling.
 
Tencent said it is doing more to stamp out gambling on its platforms like WeChat, including restricting groups suspected of gambling behaviour and punishing individual account holders. It said it has put limits on more than 8,000 WeChat groups, and has limited the payment and red packet capabilities on more than 6,000 accounts.
 
Reuters notes that a soccer investment boom in China has helped propel interest in the game. Chinese firms have invested in overseas clubs, player agencies and media rights firms, and global soccer stars have moved to China in multi-million dollar deals.
 
"With the European Cup everyones betting on soccer, but also over the last couple of years Chinas soccer market has developed rapidly. Big investments and star names create a real lure," Hu Naijun, an assistant professor at the University of Science and Technology Beijing, told Reuters.
 
The anonymous organiser of an online gambling group told the news agency that he and four other organisers had a pot of 5 million yuan ($750,706) and that dozens of people would join for each game.
 
"In one night there will be millions placed in bets," he said, adding it had become a lucrative business. "For the final, well probably go to Macau or Hong Kong and spend the whole week in the presidential suite."

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Gambling News :

Malta Gaming Authority's half-year 2016 report - There are 490 gaming license in issue and 257 gaming companies in operation....in the first six months of 2014, those figures were 414 and 271 respectively;

Macau ATM Transaction Limit Lowered - The Monetary Authority of Macau moved quickly Friday to quell market concern caused by a newspaper report late Thursday that it was about to slash ATM limits in half .

Vegas Mobile Casino Gets Live Dealer Games - Vegas Mobile Casino has partnered with Swedish online gambling game developer NetEnt, which has supplied a new live dealer offering that includes desktop Blackjack and desktop and mobile Roulette.

Cosmic Crystals SLot Launches - 1X2 Gaming's latest online slot titled Cosmic Crystals is a 5 reel, 50 pay-line game with a futuristic outer space feel, gems galore, and features that include a sticky Wild reel, re-triggering Free Spins, Scatters and a claimed 95 percent RTP.

Playtech Live launches dedicated live roulette room - Playtech's live dealer arm, Playtech Live has launched a dedicated live roulette room operating from a fully custom-built studio bursting with colorful Christmas decorations.

Australian Open To Dunp Gambling Ads - Court-side advertisements, which have been criticized as promoting gambling and thereby contributing indirectly to the specter of match-fixing, are to be discontinued in 2017 from the Australian Open tennis championships, Tennis Australia has confirmed.

Olympique Lyonnais In Sponsorship Deal With FDJ - The agreement allows FDJ to introduce its ParionsSport betting terminals in the Parc OL stadium, and the promotion by the club of its website of the same name

BaFin CrackDown on Spread Betting - The UK Financial Conduct Authority's crackdown on financial and stocks spread betting via contracts for difference has been followed by similar moves in Germany, where the financial regulator BaFin announced similar new restrictions Thursday.

How is the CDC Group Spending its Money - Questions are being asked about how the UK government's private equity arm, the CDC Group plc (formerly the Commonwealth Development Corporation) spends the billions it is allocated to alleviate international poverty, The Guardian newspaper reported Friday.

Voodoo Slot Released - The Prague-based online gambling games developer Endorphina is going against the trend of Christmassy-themed offerings at this time of the year, instead going for the popular horror genre in its new slot Voodoo, released to operators today (Friday).

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