China will award online gaming licences within the next two years, according to one of the leading operators in the region.
“China is a market that will eventually grant some kind of licences for betting, and it could be as soon as two to three years,” Tim Lambe, chief executive of Easybets, said.
"If China is determined to push something through it can happen in months rather than years, but it all depends on how politically sensitive it is as the time."
Lambe tipped Citic Pacific, the huge Hong Kong-based construction and financial firm, to obtain the first licence.
Citic recently opened a Macau-based betting exchange through a white-label deal with Irish firm Betdaq.
And Lambe said the firm would not have taken the surprising move if it was not confident of the potential for a Chinese licence further down the road.
“Citic have strong connections in China at the highest levels, and there is speculation they might be able to lobby to get licences in China,” Lambe said.
"Initially it may start in the border provinces, but then it will start moving inwards into the big cities."
Although the Chinese authorities are currently in the midst of a high-profile crackdown on internet gambling, operators in the region are confident regulation is looking increasingly likely.
Several of egaming’s biggest names are currently targeting the Chinese-speaking world, with Ladbrokes one of the highest-profile firms in the region.
Alternative payment processing firm NETeller is one firm with big plans for the region, and it announced last week it had bought Macau-based payment firm Quick Access.
Quick Access, owned by Macau telecom service provider CTM, operates the leading debit-based payment solution 1Pay.
source : egaming review magazine
