According to SBC News, the British gambling giant Bet365 has officially exited the Chinese market, a move interpreted by outsiders as an important step in strengthening compliance operations and optimizing global business layout.
Strategic Adjustment: Focusing on Core Markets
A spokesperson for Bet365 stated to the media: "We are constantly reviewing and assessing the markets our business covers. The group has decided to consolidate resources and focus on core markets with long-term sustainable growth potential. Therefore, Bet365 will cease operations in several jurisdictions, including China."
Once a Key Revenue Source, Now Possibly the Last 'Deep Grey' Market
Industry analysts point out that China was once the second largest source of revenue for Bet365 after the UK, especially at its peak in 2014. However, with global gambling regulations becoming stricter, Bet365's exit may signify the end of its last "deep grey" market.
Compliance vs. High Profits, China Market Ultimately Abandoned
The Chinese market has long been seen by international gambling companies as a region of high profits but uncertain regulation. Although Macau has a legal casino industry and Hong Kong allows horse racing and football betting, online sports betting and gambling remain illegal in mainland China. Overseas gambling companies have been operating in a grey area in China, and facing increasing regulatory pressure, Bet365 has chosen to exit to avoid potential risks.
Accelerating Global Compliance Layout, Betting on the Americas Market
As Bet365 exits China, it coincides with its acceleration in expanding into regulated gambling markets, especially in North and South America.
Brazil: As one of the 71 licensed gambling companies in Brazil, Bet365 is vigorously expanding its business in the country, which has just completed the legalization of sports betting, with a broad prospect.
USA: Currently, 38 out of 50 states in the US have legalized sports betting. Bet365 has recently officially entered Illinois, becoming its 13th state of operation in the US, with Missouri expected to be its 14th market.
Sports League Cooperation: Bet365 has reached a cooperation agreement with the MLB team St. Louis Cardinals to pave the way for entering the Missouri market, waiting for the state's sports betting regulations to be implemented.
Embracing Compliant Markets, Reducing Legal Risks
In the context of the accelerating process of global gambling legalization, more and more operators choose to exit markets with high regulatory risks and strong uncertainties, turning to legal, compliant, and sustainable profitable regions.
This strategic shift by Bet365 not only helps reduce legal risks but also ensures its advantage in the mainstream wave of the global gambling market.
