Since Asian countries gained millions of revenues through online gambling, one country has still battling for the legalization- China. Although online gambling is illegal in China, like in other countries, it is still very easy to set up an online gambling service, and illegal activities are hard to prove. As sports betting sites that are available online and as well as the World Cup well underway soccer betting is getting more popular by the day in China, and online gambling operators experience golden times.
In Shenzen and Chengdu, two of the biggest cities in China nowadays, the China authorities are bundling powers to roll up underground gambling syndicates. The operation already come up with in the arrest of 34 suspects and the seizure of $11.7 in cash. Still this is an unbelievably small tip of the iceberg, as for example during the 2006 World Cup a gigantic $73 billion was spent on online gambling.
According to the firm, GigaMedia, a developer of software poker and other online casino games, an expansion is already planned for China. The online casino business is skyrocketing as the company’s FunTown site is already the largest Mahjong site on the planet. Players play for points as well as prizes.
Amazingly, more than 50% of its subscribers spend over 100 hours on the site a week, the company said. Many gambling observers may recognize GigaMedia as the force behind EverestPoker, the rapidly growing poker site in Europe. The company also runs an online gaming blog in Taiwan called Wretch.
However, China is definitely heading toward being the world’s biggest online gambling market. According to the director of the Chinese development firm, Sino, Richard Li, the Chinese gambling market turns over $100 billion, 95% illegally. Just like Western countries, China needs to fund social services for its aged population, so pragmatism, rather than intolerance for bourgeois entertainment, is triumphing.
Though to some online casino players in China consider playing at online casino or sports betting sites as their recreational leisure. However, once online gambling legalization was passed, UIGEA worries about health and personal side-effects that will surround by playing online casino.
Treating online gambling like the Chinese is certainly not the wise thing to do, as the law of demand and supply has proven time after time. online gambling operators experience golden times. With China’s powerful and well-disciplined government, I assume that if online casino now legal, it’ll bring great revenues as well as a minimal negative side- effects.