companies offering online lottery sales in China around this time and these companies reportedly generated annual sales of CNY85bn ($13.8bn) - around 22 percent of the country’s total lottery sales per year. In terms of online data of the US$50.7bn total
and
sporttery.cn had the licence to carry out pilot projects to sell online lotteries from the Ministry of Finance. In March 2015 all provincial sports lottery
administration centres were ‘temporarily suspended’ after the Ministry of Finance issued a statement saying “all institutions, online entities or individuals which provide unauthorised lottery sales services, either directly or through agents, shall immediately cease such services.” Tis came after Beijing ordered provincial
lottery administration centres to suspend online lottery sales as from March 1 2015 as apparently many weren’t registering all sales. It also instructed provincial authorities to investigate online lottery sales in their areas. Apparently there were as many as 400
lottery market in 2013 the sports lottery market accounted for $21.9bn and the online sports market accounted for $1.5bn which was estimated to rise to $3.2bn in 2015. One of the companies
500.com which had
received a licence for a pilot project in 2012 also had its operations suspended. In February 2016,
500.com reported huge losses and zero revenues for its online sectors. Full year (2015) net revenues were CNY99.6m – an 82 percent decrease from net revenues in 2014 of CNY579.7m. Meanwhile the Virtual Sports market in China
is currently offered via provincial remote distribution and offers a 59-69 percent return to player payout and is televised in store at retail and betting shops or remotely for races and sports matches. Te Ministry of Finance initially granted
approval to two virtual sports in the China Lottery and there are two games in the market
Virtual Car Racing via ‘Lucky Racing’ and Virtual Football via ‘E-Ball’ AGTech is the supplier of China’s only virtual
sports lottery platforms to the Chinese Sports Lottery via AGT JV (AGTech 51 percent owned joint venture company with Ladbrokes) and the games are supported by Inspired Gaming. Lucky Racing was launched in the Hunan
province in 2011 whilst E-Ball lottery was launched in Jiangsu province during 2013. Lucky Racing is a fixed odds betting game
broadcast to lottery shops via a central computer and cable TV. Te game is a computer generated Grand Prix style car race offering betting with one race every 10 minutes. It is now available at some 1,700 lottery shops in the Hunan province and in the first month sales exceeded that of all other lottery products in the province. Bets on Lucky Racing make up over 30
percent of all lottery sales in Hunan and 1.1 percent of all national sports lottery sales. Tere are six virtual events per hour (84 a day). E-Ball was launched in 2013 and offers high
frequency betting opportunities with four matches every 10 minutes. It is found in 1,300 locations in the Jiangsu province.
NEWSWIRE / INTERACTIVE /
247.COM P45
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