Olympics Gamble

Olympics Gamble

China will be betting on the 2008 Olympics, says Shirley Lau of CNN, whether sports betting is legal or not.

Banned in China as a “social evil” in 1949, gambling – a government-run lottery – was reintroduced in 1987 and expanded to a sports-based lottery in 1995. Black market gambling is estimated at about $104 billion, ten times more than the lotteries.

The former Portuguese Colony of Macau has retained its casinos, and 80 to 90 percent of Macau’s 20 million annual visitors are from mainland China. China recently introduced video gaming machines to try and stem the tide.

AGTech logo

The Chinese government Sports Lottery Administration has been meeting with Hong Kong gaming technology company AGTech and partner Ladbrokes, a leading British sports betting corporation, to discuss fixed-odds sports betting in China.

One thing is a sure bet: official or not, there will be wagering on the 2008 Olympic Games in China.

 

Top image by Mike Licht; not to be confused with registered trademarks or copyrighted images, even those originating in places that don’t believe in copyrights and trademarks. Come on seven, Baby needs a new pair of  NikesTM

One Response to “Olympics Gamble”

  1. motorbikes Says:

    yeah the sport wagering industry is huge and with ladbrokes partnering it there will be alot of pressure for legal betting.

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