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mar
17

Online Retail Shop Alibaba Makes a Move Into Lottery and Poker Market

Tags: AGTech, Alibaba.
Posted on Thursday, March 17, 2016 by "T".

Alibaba, one of the largest online retail company, has recently been reported to be making a big gambling move into the lottery and poker market. Alibaba Group Holding Ltd. affiliates is reported to be investing $308 million in order to gain 59% control over AGTech Holdings Ltd. - a move that will help make their return on the lottery market after exiting last year due to government restrictions.

The Chinese lottery provider, AGTech, will now be able to expand their lottery distribution thanks to the influx of money. The deal will not only allow them to cover more provinces, but it will also allow them to add hardware and expand their games. It is estimated that around 7% of Mainland Chinese take part in the lottery. However, when compared to the more than 50% in Hong Kong, the potential for growth is definitely promising.

Another move that Alibaba is making is on poker. Asian news outlets report that Alibaba Sports is entering partnership with China's Ocean Sports and Entertainment and will be offering "Match Poker." Ocean Sports has connections with International Poker Federation (IFP).

Match Poker was developed by IFP and has the capacity to exploit a loophole that is found in the Chinese gambling law. The team-based game will compete for points but without using any physical cards. The IFP claims that the removal of random dealing, playing in team, delivery of digital cards into electronic devices, and calculation of scores based on cards at hand, will effectively place the game under e-sport instead of gambling.
Patrick Nally, President of the IFP said: "The alliance between Oceans and Alibaba Sports creates one of the most powerful forces in sports marketing anywhere in the world.

"Oceans and Alibaba Sports creates one of the most powerful forces in sports marketing anywhere in the world."

The companies are seen to make money through subscriptions, clubs, and tournaments.

source: http://www.pokernews.com/news/2016/03/alibaba-poker-china-24221.htm

 


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4 comments for "Online Retail Shop Alibaba Makes a Move Into Lottery and Poker Market"

 pochui3/18/2016 9:32:01 AM GMT
if mountain doesn't come to alibaba- alibaba comes to mountain... this is the saying we pronounce firts thing in the morning and each day before going to bed back here in the humble and democratic north korea. at last gambling will come to each and everyone's door, even to those who can't afford a door.
 LadyFloppy3/18/2016 3:30:10 PM GMT
The Chinese are buying all
Above which are many, almost half of the world population, now also became an economic world power and that is dangerous for the rest
If we add that also became a world power militarily, I think it is very stupid to say that ... we are surrounded
And where they plan to live if they continue to grow in population within 50 years?
 Serpang3/19/2016 7:05:43 AM GMT
The team-based game will compete for points but without using any physical cards. The IFP claims that the removal of random dealing, playing in team, delivery of digital cards into electronic devices, and calculation of scores based on cards at hand,


Anyone know about this game ? will be nice, reduce luck factor to be a winner, but more difficult to play cause have to play with partner ( or team ) and not easy to get mate partner. Maybe the idea come from duplicate bridge.
 Buva133/19/2016 10:45:36 AM GMT
I got nothing against nobody, i lite up a joint and its all good Big Smile . The only thing i hate is bogus card generator so as long is that functioning normal ill b alright with everything. nO_o wait - i dont trust nobody, not even myself - i dont think i would trust the Triad and Jackuzy fellows oh nO_o. Sind me out.

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