Taiwan to Offer Sports Betting
According to a Finance Ministry spokesman in Taiwan, Taipei Fubon Bank, will become the first-ever operator of sports gambling in the country. Taiwan will allow the launch of sports gambling next year, as officials revealed, and currently Fubon Bank is the leader of the three candidates. The Bank will manage a sports lottery system that will launch before April 15th 2008. The license will run for six year and could be worth up to US$ 910 million a year as the bank’s spokesperson noted. Taiwan has a large market and no other sports gambling firm and its not surprising that the license will generate high revenues.
The excitement is high as the bank’s Vice President added that the number of options and the diversity of the sporting events covered by the sports betting operation will be increasing every year. That way, players will have something to look forward to the following year and a dynamic and changing sports gambling market will be formed. The sports lottery will be covering sporting event from the United States, namely baseball and professional basketball, local baseball, horse racing and car racing. As mentioned, the areas and number of fields will be increased as time goes by.
Taiwan is hoping to stimulate the economy and promote sports throughout the country using the new sports lottery system. People will be more aware of sports as the promotions for the new gambling operation begins. As always, gambling on sports makes the game much more exciting and interesting and people will always find new attractions and ways to enjoy themselves with sports betting. Currently, Taiwan is operating a public welfare lottery, with revenues generated by sports betting are expected to be one-fourth of the sum made by the current system. Analysts predict that sports gambling will bring about US$600 million in revenues each year.