Investors in Chinese online lottery platform 500.com Ltd. are off to a start that is happy the New 12 months; in the six weeks since its New York Stock market birth, the value of this company has almost tripled from its initial public offering cost of $13.

Winning the Lottery Lottery

As the only lottery that is chinese become listed in the United States, 500.com is one of just a handful of companies set to benefit from the Chinese government’s whittling down of thousands of private lottery operators, because they permit and regulate the industry to just a little number of companies. Most of these will ultimately be vying for a possible market of over 400 million lottery players in the nation.

‘Over the next five years it is extremely clear that the market that is chinese continue steadily to develop very quickly plus the government regulatory regime will become more open and transparent,’ explained 500.com’s chief economic officer Zhengming Pan.

China’s lottery market has flourished remarkably in recent years, many thanks to a rise in disposable earnings through the country, and a national appetite for gambling and advancements in gaming technology. As a result, Asia’s lottery spending reached $23 billion in 2012, while the U.S. the largest lottery market in the entire world ended up bein Continue reading →