Despite not bearing consistency with accepted gaming revenue standards, Chinese University comes up with incredible figures for their market.
A research group at Beijing University came up with results indicating that Chinese gamblers spend around 600 billion Yuan ($97 billion) on foreign online gaming sites on a yearly basis. However, the problem is that many industry experts find the statistics hard to believe, taking into account the standard estimates of the size of the global mobile betting market.
Former head of China Center for Lottery Studies at Beijing University, Wang Xuehong, stressed that, “The market is there & gambling is part of human nature. If the choice of legalized products is too limited the majority will be forced underground.”
University made confusing claims on previous occasions
On a previous occasion, the same University has caused some confusion in 2006 when they claimed that enormous amounts of illegal money was being taken out of China. They stated that over 700 billion Yuan ($87.5 billion) was finding its way out of the country through illegal gambling sites, underground Chinese poker rooms and private lotteries.
After the communist regime took over China in 1949, gambling became outlawed. Today, state-run lotteries provide services to the public however legal gambling revenues do not match the earnings made from illegal operations.
With the World Cup at full swing, Chinese gambling market has become quite active. The interesting thing is that only a small percentage of China’s immense population has to gamble to come up with large gambling revenue numbers.