Welcome Guest
Log In | Register )
You last visited December 3, 2016, 10:44 am
All times shown are
Eastern Time (GMT-5:00)

Chinese media reports plans to restart online lottery sales

InternationalInternational: Chinese media reports plans to restart online lottery sales
51
Rating:

Chinese media is reporting that the government plans to restart its online lottery operations after ordering their suspension over a year ago.

This weekend, the Economic Observer quoted an anonymous industry insider saying that Beijing authorities were preparing to authorize a trial of a new online lottery regime, but only after the government crafts the necessary regulations. The source offered no timeline for when these new regulations might be ready.

Beijing ordered a 'temporary' suspension of online lottery sales in March 2015 after government audits turned up widespread evidence of fraud by officials at provincial lottery administration centers. (See China reveals misuse of $2.7 billion in lottery funds, Lottery Post, June 25, 2015.)

The suspension contributed to the 3.8% decline in China's lottery sales in 2015.

No company was ever officially approved to sell sports and welfare lottery tickets online in China, although the government had allowed two companies — 500.com and Sporterry.cn — to participate in an online pilot program.

The lack of authorization didn't stop numerous other Internet businesses, including Internet giants Alibaba and Tencent, from offering online lottery sales. The suspension has cost all these companies, but 500.com has been hit hardest, reporting three straight quarters of zero revenue.

Last month, Hong Kong-listed lottery technology firm AGTech Holdings issued its annual report, in which CEO Sun Ho said he expected Beijing to approve "new online and mobile channels for lottery sales" this year. Last October, Chinese lottery operator DJI Holdings announced that it had received approval for a field trial of a mobile sports lottery app in Quingdao City in Shandong province.

Lottery Post Staff

We'd love to see your comments here!  Register for a FREE membership — it takes just a few moments — and you'll be able to post comments here and on any of our forums. If you're already a member, you can Log In to post a comment.

4 comments. Last comment 8 months ago by LiveInGreenBay.
Page 1 of 1
music*'s avatar - nw bookeep.jpg
Happy California
United States
Member #157856
August 2, 2014
1506 Posts
Offline
Posted: April 17, 2016, 12:43 pm - IP Logged

 At least they caught the fraud in March 2015. 

 Trust in lottery playing is essential. I hope that China has corrected their mistakes. 

 I do love Chinese food. Yum Yum!Wink

 I've been rich and I've been poor. Believe me, rich is better. 

 Attributed to Joe E. Lewis and others

    cbr$'s avatar - maren
    Cordova,Al.
    United States
    Member #104482
    January 15, 2011
    4863 Posts
    Offline
    Posted: April 17, 2016, 1:08 pm - IP Logged
    Hope they founded the cure for widespread fraud. Other wise it only be
    repeated.
      Groppo's avatar - cat anm.gif

      United States
      Member #162631
      January 7, 2015
      502 Posts
      Offline
      Posted: April 17, 2016, 10:46 pm - IP Logged

      Man, I would certainly fear ANY kind of mishandling of anything in China, sort of like thinking about what could be the punishment in N. Korea.

      Or, has China "laxed off" it's reputation as a cold, iron-fisted ruler?

      • Don't chase the numbers you play.
      • Play only numbers you've already played, plus however many random picks.
      • But, ALWAYS the regular numbers you play.  This will make you a winner, not a chaser.
                (so far, though, I've yet to win any significant lotto prize)
        LiveInGreenBay's avatar - driver
        Green Bay
        United States
        Member #169391
        October 15, 2015
        1238 Posts
        Offline
        Posted: April 18, 2016, 5:18 pm - IP Logged

        When the Chinese find someone involved in government fraud, its the firing squad.  Here, they give them a better job.

        Never give up.  Banana