Home	Tutorial	Online Casino Reviews	Best Online Casinos	Casino Software	Casino News

Online Casino Gambling --- Casino News

Eliminating the Industry

The Chinese government has not made it a secret that the country is intolerant of the online casino gambling industry and will take every step and measure needed to eradicate the game from the Chinese market. There are many sides to the government’s efforts. The police force has been very active in investigations and raids that have brought down a lot of the countries illegal online casino gambling rings. The government additionally is seeking to block internet gambling on two additionally levels – the ISP and filtering on all new personal computers sold in China. Now, one more effort has been made, the Chinese government closed a loophole in legislation that allowed online gamers and gamblers to exchange points for cash.

New legislation out of China now mandates that virtual money cannot be traded in for real currency. This was a big way that the online casinos and internet gaming companies were able to entice Chinese gamers to the sites. Even outside of the online casino gambling industry, internet gaming is a huge market in China and some operators were still managing to offer cash incentives for game play. Although virtual traders are now forced to play a huge twenty percent tax, the government decided that those restrictions and regulations were not quite clear enough to stop the internet gambling and gaming sites from exploiting the system.

This is a huge blow to and online casino gambling and gaming companies operating in the Chinese market – nearly 90 percent of the lottery and internet gaming companies have been using some types of virtual currency as a way to entice gamblers and win loyalty. No indication yet of how that will affect the bottom line at these companies.