State-run lotteries are the only regulated gambling in China, whilst it runs one of the most profitable online gaming markets.
Australia.- CrownBet, leading online bookmaker in the Australian market, may be calculating the benefits of a wagering license in China. The company is willing to boost gambling industry in the Asian country, one of the biggest online market without properly regulation. Matthew Tripp, CEO of CrownBet, admitted that the company is aiming for any gambling license in China and he would personally sell out of his holdings in the gaming player to adjust his personal investments.
China currently runs a US$70 billion lottery market. Most international bookmakers are banned from the online gambling industry, whilst the number of illegal services is uncontrollably growing. Local and worldwide operators are speculating that the Chinese government will have to start a bidding process to offer a more transparent online gambling service with the help of major companies.
“The official rates of betting are still very low in China, so there is huge potential should licenses be opened up. Every bookie would look at this opportunity no question,” expressed a local analyst. Matthew Tripp is an investor in UK-listed DJI Holdings, which hopes to cash in on China’s emergence as the world’s largest lotteries player. In 2015, the DJI was approved to trial a mobile sports lottery app in Shandong, a province of China. The app offers Big Lotto, a sports lottery service.
Meanwhile, the position of CrownBet in the international market has been marking a steady growth. The gambling brand was founded with Crown Resorts in 2014, after taking over BetEzy brand and a non-compete clause following Tripp’s sale of Sportsbet to Paddy Power. Currently, the Australian company can be compared in size to neighbour William Hill.