China to issue World Cup sports lottery licences
BETEGY signs sports betting prediction deal with lottery provider SunLoto in advance of expected boom in World Cup betting
Chinese sports-lottery operators received a boost this week after the regulatory authorities announced plans to issue licences for operators to launch FIFA World Cup products with sports data firm BETEGY one of the first European firms to cash in through a deal with SunLoto.
The news sent shares in online lottery operators Vodone and China LotSynergy up 21% and 13.3% respectively with strong growth predicted for the Chinese sports lottery market that was worth $21.9bn in 2013.
Sports data firm BETEGY has become one of the first European firms to enter the market through a three-year deal with Chinese Welfare and Sports Lottery provider SunLoto to supply its betting predication software in time for the World Cup launch.
The agreement will see BETEGY provide data-driven prediction products to SunLoto’s Wozgongla brand as a paid service which is slated for launch next month to coincide with the tournament in Brazil.
“China is viewed by many sports betting and sports data companies in the West as the panacea for growth,” Alex Kornilov CEO and co-founder of BETEGY, said.
“By signing this agreement with Wozhongla, we have a trusted and reliable strategic partner in China,” Kornilov added.