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Chinese Tech Firms Make Bank On World Cup Betting

Friday July 4,2014 : CHINESE TECHNOLOGY FIRMS SCORE FROM WORLD CUP BETTING
 
By providing their technology platforms for China's huge legal sports lotteries, some companies are creating exciting new revenues.
 
The massive amount of Asian - and particularly Chinese - betting on the current football World Cup has again underlined the huge potential of this deeply restricted market...and companies not directly involved in the wagering process are benefiting handsomely, reports the Agence France Presse news agency.
 
The report centres on giant Internet technology companies like Alibaba and Tencent, which have cannily partnered up with the few provincial sports lottery behemoths licensed by the Chinese government to facilitate online wagering.
 
That has enabled them to share in the billions that are being placed in bets now and into the future by a large population with a long culture of gambling.
 
Tencent and Alibaba have been quick to capitalise on app technology, enabling the lotteries to tap into the country's vast number of mobile phone users, providing them with the convenience of online wagering.
 
Experts are predicting that this year's World Cup betting alone will legally generate up to 10 billion yuan - more than twice that wagered in 2010 on the last World Cup in South Africa.
 
Even more will be handled through the illegal black market, as the growing number of gambling ring busts in China has illustrated.
 
One tech-savvy punter in Shanghai summed up the public reaction to the convenience of app betting on the World Cup, telling AFP:
 
"I find it so much easier to bet on an app, rather than having to go to a lottery centre."



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NHL Odds: Forsberg Faces Elliott in Nashville - The last time the Nashville Predators played against the Calgary Flames, Calgary had a 4-1 lead five minutes into the second period. Nashville responded with four back-to-back goals, including a hat trick from centreman Filip Forsberg. Both teams went into overtime with five goals, and Calgary defenseman Mark Giordano (12 goals, 22 assists) scored the winning goal.

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NBA Odds: Hawks, Wiz in Southeast Showdown - The Washington Wizards (42-27 SU, 36-32-1 ATS) can pretty much secure the Southeast Division title with a win Wednesday night over the Atlanta Hawks (37-32 SU, 31-38 ATS). Tip-off is at 8 PM ET on ESPN; the Wizards lead Atlanta by five games with less than a month remaining before the playoffs.

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NBA Odds: Clippers Try to Slow Down Bucks in LA - Milwaukee Bucks small forward Giannis Antetokounmpo and Los Angeles Clippers power forward Blake Griffin are two of the most talented and versatile forwards in the NBA. The two lead their teams into battle on Wednesday in Los Angeles.

NCAAB Odds: SMU Hosts Tulsa With AAC Title on the Line - There aren’t too many college basketball teams more profitable than the SMU Mustangs (25-4 SU, 18-5-1 ATS). They host the Tulsa Golden Hurricane (14-14 SU, 15-12 ATS) this Thursday night, tipping off at 8 PM ET on CBSSN.

NHL Odds: Canadiens Welcome Islanders Tonight - The Montreal Canadiens (32-20-8) welcome the New York Islanders (28-21-10) on Thursday (7:30 PM ET on SNE). After getting their first victory under new head coach Claude Julien, the Canadiens will look to build on that momentum against a red-hot Islanders team.

NHL Odds: Reeling Flyers Seek Relief in Pittsburgh - #nhl The Philadelphia Flyers have been a bit off since the holidays. They’ve won just eight games since the Christmas break, and now they’ve got a tough one coming up this Saturday night against the Pittsburgh Penguins.

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