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Business / Industries

Odds are, they're betting on FIFA

By QIU BO (China Daily) Updated: 2014-06-19 07:49

"It only took me a couple of minutes to place a bet and it offers similar odds as European betting companies" such as Ladbrokes Plc, he said. "It's more convenient compared with last time the event was held."

Chinese lottery or match-betting punters can easily buy tickets through hundreds of websites, including popular names such as Taobao.com and qq.com. But only two sites-500.com and sporttery.cn-may sell online lotteries or betting tickets with legal licences issued by the Ministry of Finance. 500.com was the first listed lottery company on the Chinese mainland and the third Chinese dotcom to go public in the United States last November.

"We can confirm business growth during the World Cup games, but we're not allowed to disclose further figures," said Yan Dong of the lottery company's marketing department, referring to the disclosure requirements it's subject to as a listed company.

"Most websites, except those two, claimed they had signed underwriting agreements with provincial-level lottery centers, which are also authorized by the General Administration of Sport," said Wang Shaorui, a lottery editor with more than 10 years' experience in zucai310.com.

"So it's difficult to tell whether their online operations are against the regulations or not," he told China Daily. "To me, they are more likely working on the edge of risk."

Odds are, they're betting on FIFA Odds are, they're betting on FIFA
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