The only wagers or bets allow by Chinese operators online is horse racing and sports lotteries...
China’s gambling history is extensive. It’s one of the few countries in the world where the most popular and world renowned games were invented such as KENO and Pai Gow. Despite the rise of the Communist Party in 1949 which is still in power today, the Chinese gambling market still manages to produce about $4 billion per year. This is done through online gambling and other physical gambling locations, even though both of them are illegal and forbidden. There are situations where national lottery tickets were sold online, but due to the immense amount of scam websites in the nation which sold fake tickets, the entire idea and practice of online national lottery ticket selling fell to shambles.
Chinese Las Vegas
Macau is part of a Special Administrative Region with a different government and laws. This is the place where most Chinese citizens go when they want to gamble because it’s an area where gambling is overlooked. Due to the unusual gambling regulations in the area, there is no specific branch of law that neither prohibits nor supports this particular industry. There are, however, few public and private laws in relation to gaming. Overall, the authorities are responsible for the gambling regulations and there is such a thing as the Gaming Inspection And Coordination Bureau (DICJ) to keep things in control.
Macau’s Online Gambling Law
In regards to online gambling, the only wagers and bets allow by Chinese operators online is horse racing and sports lotteries. Both of those are controlled by two main local companies. Licensing online casinos and gambling sites, however, is yet to be decided since there is no law that regulates licensing. Online gaming is legal but it’s not regulated by anyone. That is to say, those casino operators can’t open gambling sites because there doesn’t exist an appropriate or lawful regulatory and licensing system.
Online Gaming’s Future
The proper regulation of the online gambling market of China and Macau is still a work in process. Gambling online by Chinese citizens is common despite the fact that it’s illegal. The country’s economy has risen immensely over the last few decades and it continues to do so. Studies show that the citizens spend more money on gambling then they do on anything else, despite that fact about the economy’s position. It’s only natural for casinos and games to take part in the country’s revenue stream.
It’s a possibility that Macau may come up with the appropriate legislation to regulate gambling and make it completely legal throughout the area. Following the passage of such a document, chances are that China will follow those regulations as well just to continue increasing the economy’s situation and to keep the money spent on gambling solely within the country.
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