China issues online betting licenses
The Hong Kong Economic Journal reported that formal licenses were on the way, with the first batch to go to companies already offering online sales under an MOF pilot program.
Just like everywhere else, the kick-off of the World Cup in Brazil this month is expected to generate significant betting action in China. Sports lottery sales doubled during the 2010 World Cup. The Euro 2012 tournament boosted sales 150%.
Total sales for the country's officially sanctioned Sports and Welfare lotteries topped US$51 billionin 2013, an 18.3% gain over 2012, and analysts expect the online sports lottery market will double in value by 2015.
Earlier this year, the State General Administration of Sport expanded the betting options, previously restricted to football and basketball, to include badminton, volleyball, hockey, tennis, table tennis, handball and water polo.
The changes took effect in April, beginning with the Beijing, Guangdong and Tianjin lottery administration centers.
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