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Online casino gambling coming to China

Chinese online casino

In the year 2016, Chinas Ministry of Culture released a revised set of regulations that was put into effect on the 1st of May 2017. The newly improvised gambling regulations have been altered to focus on online game operators of which the biggest at the moment is NetEase. With the new gambling regulations in place the Chinese government is making sure thatonline gamblingsites adhere to their rules.

The new regulations have been put in place to ensure responsible gambling and also as a way of eliminating fraudulent and crime driven sites. Online sites will be expected to make a lot of information public and also provide the government with sensitive inside information including name, property and content. They will also be required to make random draw results by players public. With the new set of regulations, the Chinese government aims to create a safer and fairer gambling environment.

Online operators are requested to add limits to deposit and withdrawal amounts as well as prevent any players from playing until theyve created an account. There are also stricter rules regarding payment confirmation to ensure that payments arent made accidently. While many of the rules arent new they have been brought to light as a reminder of what is considered legal and illegal in China. Online casinos can only legally serve Chinese citizens if they have an Online Internet Culture license.

Tax rebate from online gambling


While there are still various illegal gambling activities, the government have made exception and allows gambling including online gambling to take place. Chinese citizens that take part in any form of legal gambling and hit a few wins will most likely not be taxed. The only time tax is applied to winnings is when a player has a win amount of more than 10,000 RMB. These wins are normally charged with a 20% tax rate. Players gambling in places like Macau can also rest assured that their winnings are tax free.

Online gambling at foreign sites that have no legal licensing is considered illegal and punishable by law. If a player has won a prize at any of these online casino sites they would not be able to declare the income. Seeing as it is an illegal income, it is technically tax free. Citizens can get away with this but in the case that their illegal winnings are discovered they will be facing heavy penalties.

The future of gambling in China


The Chinese gambling industry is one of the most lucrative in the business and even illegally they've produced almost $4 billion in revenue annually. With the recent gambling regulation updates in China, it is clear that the government does not necessarily want to restrict online gambling but they aim to make it safer for their citizens. As a player, you will not be prosecuted if you abide by the rules and play only at online Chinese casinos that have been approved and granted license by the Government.

While the Chinese have a reputation for partaking in online gambling and other forms of gambling, one cant help but wonder about the gambling regulations of the country. Gambling at foreign sites and casinos has been considered illegal in China for many years. In recent years the government has gotten even more rigid with their gambling regulations in hopes of forcing more citizens into Chinese casinos. One cant help but wonder if the strict laws are maintained to ensure responsible gambling or restrict access to gambling activities completely.

There are plenty of online casinos that are safe and secure to play at for anyone situated in China.Fortunately, online casino gaming opens up a whole new world of gaming opportunities as while China does not offer licences for casino operators, they do of course have little control over casino gaming opportunities that are based outside China. With that in mind, plenty of online casino companies are more than happy to welcome Chinese players and make the experience absolutely perfect by offering Chinese and Mandarin gaming options and even better VIP treatment and rewards than some of the best land based casinos around.

 

 

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        Updated: Nov 23, 2017 by Diana Sterling » TAGS: No Tags