News has just come out that Chinese police have arrested 98 different people associated with various online gambling networks. It is believed that over $78 billion worth of bets were handled by these individuals, and the arrests were the culmination of months of tracking. Chinese police have already shut down 12 different online gambling rings found in their southern provinces over the past few months, and they seem to be shutting down even more since President Xi JinPing was chosen.
As the largest country on earth, China has the most people online per capita, but gambling has been illegal in China since 1949. With so many different potential players online at any given time, many people have made good money by running illegal gambling rings. The market is huge and until now the Chinese government has let most of these people slip through the cracks.
It might be time for China to realize that they could do a much better job of tracking these illegal gambling operations if they worked on new legislation pertaining directly to online gambling. A lot has changed in the gambling world since 1949, and it may be time for China to change as well. If China ever were to legalize online gambling, it would be a huge step forward for other late-adaptors.
At this point, it is still hard to tell if China’s plan of simply arresting offenders will succeed or not. There is a possibility that all these arrests will make others wary of attempting to take bets from Chinese customers, but most likely many will still try. The train of thought is now that the competition is out of the way, it could be the best time to strike fast and swoop in to pick up many customers at once.
Though China is on the other side of the world and it can be easy to believe that their actions do not apply to us here in America, this is not the case. As owners of the largest economy, decisions made by China could end up impacting the rest of the world.
Is there a chance that China might one day legalize online gambling? As of right now, the chances are looking slim, but only time will tell how everything ends up working out.