Lack of regulation, black market dragging on Asia’s lottery growth

Regulation in Asia is failing to keep pace with technological advances in the lottery industry and is weighing on the region’s potential, insiders say. In China for example, firms are still waiting for new rules to allow online sales after the market was shut down in March 2015 amid widespread reports of corruption. Sports lottery operator 500.com was one of the firms to suffer from the fallout, having initially been one of two companies authorized to take part in an online lottery pilot program.   However, industry insiders say the Asian lottery sector still remains an attractive proposition. Korea has a vibrant lottery market, while in Japan there is huge opportunity to expand the lottery’s current product offering online. The Philippines lottery industry continues to expand albeit at a moderate pace, while Cambodia has taken tentative steps towards launching an online and mobile lottery, the Khmerlottery, through telecoms company Cootel. “Many online...

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