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    Default Bloomberg: China is struggling to stop the spread of online gambling

    Interesting article on Bloomberg Business last week about the ongoing efforts by the Communist Party in China to shutdown Asia's burgeoning online gambling market.

    China says online gambling is draining hundreds of millions of yuan from the country. But it’s finding it hard to stop websites registered and operated abroad.

    From the article:

    Beijing views betting as a vice that fuels social unrest, and Chinese law prohibits gambling on the mainland—including online. But the anonymity the internet affords has Chinese bettors flocking to digital gaming halls. They’re fueling growth in Asia’s online gambling sector, which is expected to reach $24 billion in sales this year, according to market researcher Technavio.
    Beijing has begun lobbying jurisdictions that permit online gambling— including the Philippines and Cambodia—to shut down the industry, an ambition made more urgent as China’s economy slows and it grapples with an escalating trade war with the U.S. Yet stopping the businesses is proving difficult, because there’s little incentive for these countries to hamper a lucrative industry.
    The Chinese government has tied a number of problems to online gambling, including telecommunication fraud and citizens being lured to work illegally in the Philippines. The websites allow wagers of as little as 10 yuan, making them within reach of lower-income bettors. Online gaming halls also threaten to lure bettors away from Macau, the only city under Chinese control where casinos are allowed (though online gambling is still prohibited).
    Read the entire article here:

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