Online Lottery Sites Suspend Operations Due to New Rules

Enorth, 3/01/12

Chinese e-commerce platform Taobao and internet giant Tencent's (0700.HK) lottery websites announced the suspension of sports-related lottery ticket sales yesterday. According to the Detailed Regulations on Lottery Management recently released by China's Ministry of Finance, Ministry of Civil Affairs, and the General Administration of Sport of China (GASC), all lottery ticket sales by unlicensed organization are designated "illegal lotteries" as of March 1, 2012.

Two online lottery websites - Caimincun.com and Ruyicai.com - announced the suspension of business operations yesterday pending approval by China's lottery regulatory bodies.

Keywords: Caimincun Ruyicai Taobao Internet sports online lottery Tencent Ministry of Finance Ministry of Civil Affairs GASC 0700.HK regulation

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