China?s New Fortune.
Largest Sports Lottery Megashops Open in Mainland China.
The American sports betting industry is the world’s largest, but there’s no downplaying the fact that China is fast-tracked to be a world market dominator. And their sights are set on sports betting. Betex Group plc., a London Stock Exchange company that focuses on Chinese gaming opportunities, recently signed a deal with Guangdong Le Ke Casual Lottery Bars Co Limited (GLKCL) for a selection of new sports-gaming shops in China. The Chinese Lottery market is currently believed to be worth US$8.6 billion, and in 2004 it was the worlds 10th largest by sales. And Despite strict laws against gambling, Chinese authorities gave the nod for the shops to open its doors. Guangdong province, in southeast China which includes Hong Kong and Macau, will play host to the “megashops” that will run European soccer betting, with pools on matches throughout the week. The shops will also offer numbers-related games and a 14-match accumulator.
Betex announced in 2005 that it was the first foreign company to secure a place in the Chinese State Sports Lottery with deals in Hebei and Guizhou provinces. And now, Betex has shaken hands with Guangzhou Run Sports Planning Co. Limited (GRSP) to secure the necessary marketing, licenses and approvals of these megashops, and Betex will get a cut of revenues from all lottery products sold. Combined with these new Guangdong megashops, Betex have secured a considerable portion of mainland China’s gaming industry.
“China has the potential to be one of the biggest gaming markets in the world,” said Peter Greenhill, Betex CEO. “Our experience in working with the Sports Lottery Management Centres in both Hebei and Guizhou confirms that there’s a significant demand for single match football betting.”
For more information, go to betexgroup.plc.uk.