Lottery Officials Concerned About the Success of Online Gaming
The Chinese Lottery has
been one of the most popular commodities in China's
entertainment culture. The issue has become that many Chinese
gamers have chosen the online casinos way rater then the
original Chinese lottery and that means some financial issues
for the Chinese lottery. The Shanghai Daily has reported that
China's lottery brings in billions of Yuan a year and despite
that amount online casinos have generated even more. The issue
is two fold. First, there was a percentage drop in the amount of
money the Chinese lottery generated and the second issue is the
fact that the Chinese government does not get anything
beneficial from this because online casinos operate independent
from the Chinese government while the Chinese lottery does pay
taxes to the national government. China is having some issues
with the fact that online casinos are generating so much money
and they are not paying taxes.
The issue with tax paying when it comes to online casinos is the
issue of whether or not online casinos are legal and therefore,
if they are illegally operated tax paying becomes ironic. This
has often been the case with drug trafficking in many countries
especially Columbia, where drugs brings in much revenue but no
taxes are paid. When it comes to online casinos, taxes are often
not paid because they too are illegal and therefore to pay taxes
would be to incriminate the company.
China however, is starting to feel pressure from the national
government to do something about this billion dollar industry
that is not only not paying taxes but is also causing a tax
paying industry like the lottery to fail. Law makers in China
have been having many meetings lately to discuss the issue and
therefore, come to some type of conclusion that can leave
China's government and citizens happy. It also shows that the
success of the online casinos comes second to what is known as
citizen safety and happiness as well as national prosperity.
The popularity of online casinos is not a surprising or recent
phenomenon as Asia has been known as the biggest users of online
casinos. Asia generates the most online casinos players and many
online casinos have already installed software in them to allow
Asian players to game in their own native language such as
Cantonese, Malaysian or other.
The Asian attraction to online casinos is not surprising as the
most technologically advanced people always know what is
technologically in before it comes to North America and Europe.
Despite North America's and Europe's success in online casinos,
Asia is still the leading market.
The online casinos internationally that host many Asia players
are anxious awaiting China's decision as it will ultimately have
an effect on this industry that is said to be one of the biggest
today. If China decides to do something radical in stopping
online gaming then it can only be assumes that other countries
will follow suit.