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China Worried About SportsBetting Money Leaving Country
Tuesday July 8,2014 : CHINA WORRIED OVER OUTFLOW OF BETTING MONEY
Sports betting is attracting massive wagers, especially on international football competitions.
China's state regulator for lotteries and ancillary sports betting facilities is concerned about the flow of cash out of the country as sports-mad punters use online and mobile facilities to bet on international competitions like the football World Cup currently unfolding in Brazil.
The Bloomberg news agency reported Tuesday on official Chinese figures that indicate after just three weeks of the World Cup that Chinese punters have already legally bet $642 million - twice that wagered on the 2010 World Cup.
And, Bloomberg points out, that is just the tip of the iceberg, because illegal gambling offers are also pulling in the Chinese gamblers, with online and mobile technology making it ever more accessible to the man in the street.
Last month China’s state news agency Xinhua estimated that offshore online gaming accounts for as much as $161 billion in capital flight annually...equal to roughly 2 percent of GDP .
So prevalent has Chinese football betting become in this World Cup year, that Macau regulators have attributed it to the unusual 3.7 percent decline in its land-based casino revenues last month - the first such decline in the last five years.
Betradar Launches US Sports Betting Solutions -
With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.
Final 12 For MPNPT Morocco -
Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).
MPNPT Morocco Updates -
Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.
MPN Poker Tour Morocco Day 1A -
The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.
2018 MPN Poker Classic -
The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.
PDC and Sportradar Renew Deal -
Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data
Poker Yaar Joins MPN -
Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.
New MPN Poker Rooms Tower Torneos -
Impressed with Microgaming, having already integrated with the Quickfire platform to gain access to some of the industry’s best gaming content, Tower Torneos has extended the relationship with poker.<
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