Vodone Becomes First Mobile Lottery Service in China - Telephone IP News

Vodone Becomes First Mobile Lottery Service in China

By Telephone IP News

  • Release Date - Published: 2009-06-01
  • Book Genre: Business & Personal Finance
  • Author: Telephone IP News
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Vodone Becomes First Mobile Lottery Service in China Telephone IP News read online review & book description:

VODone Limited ("VODone" or the "Group", Hong Kong Stock Exchange: 0082) is pleased to announce the introduction of mobile lottery service in China. Authorized by Heilongjiang Welfare Lottery Center, VODone has become one of the first authorized service providers of mobile lottery betting service for mobile end users in China and due to the cooperation with Heilongjiang Welfare Lottery Center and Chinasatcom, VODone is currently the only company in China to provide mobile lottery services. A service agreement with a term of 96 months of cooperation has been signed by both parties under which the Group will be entitled to a certain percentage of commission income generated from each transaction. Meanwhile, the Group has opened the "cai.vodone.com" portal named "Lottery Lifestyle" broadcasting lottery related news and information exclusively supplied by the Ministry of Civil Affairs of the People's Republic of China and co-managed by China Association of Social Workers and China Philanthropy Times. VODone and China Philanthropy Times will together launch the "Expert Lottery Comments" channel, providing exclusive lottery news. The State Council of the People's Republic of China has released a consultation paper for the Law Governing Lottery Business. Deemed as core supporting business of China's welfare service, lottery has already been developed as a major financial and tax income in contributing to the well being of the community. The promotion of the Law Governing Lottery Business generated significant impact on the lottery industry and further stimulated players' interest against the backdrop of a financial crisis such as the waiver of upper limit of issuance and widening of betting channels. In China, the number of frequent players of lottery has reached over 100 million which contributed over RMB100billion of betting turnover every year and in which betting turnover of welfare lottery amounted for approximately RMB60billion per annum. It witnessed the tremendous market potential of China's lottery business.

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