Chinese Gambling Activities Expanded To Southeast Asian Countries

Gambling is against the law in China other than in Macau. As a result, a sea gambling industry centered on China has emerged in Southeast Asian countries, like judi online in Indonesia, Philippines, including Cambodia. The driving factor for the development of online gaming in the Cambodian port, the city of Sihanoukville is the attractive economic return.

Regardless of the economic rewards brought by gambling, the arrival of Chinese citizens into Cambodia has resulted in an upsurge in the number of criminal offenses which include extortion, kidnapping, and even murder. Casinos also exposed the cessation of money laundering and child labor. A lot of massage rooms have been established to benefit gamblers. The expansion of Chinese people associated with gambling-related issues has negatively affected national security and public order (including social order).

The Philippines is an alternative to Cambodia and another hot spot in the development of online games in China. In April 2019, an estimated 138,000 Chinese citizens obtained work permits for Chinese gaming establishments called Philippine Offshore Game Operators (POGO) locally. Due to the development of the gambling industry, the number of reported crimes related to gambling has increased, including the kidnapping of Chinese citizens as perpetrators.

From a socio-economic point of view, conditional actions should be maintained instead of completely banning China’s overseas gambling activities. On the one hand, the governments of Cambodia and the Philippines should impose strict regulations on the operation of sea gambling activities, for example, strengthen recruitment reviews to ensure that underage children are not employed by game operators, and prohibit the operation of massage parlors.

On the other hand, these governments should hire more law enforcement personnel to supervise the daily activities inside and outside the casino to prevent money laundering and other gambling-related crimes. An independent supervisory agency should be established to monitor the actions of law enforcement officials and arrest those involved in corrupt activities.

In addition, immigration screening should be strengthened to ensure that all Chinese citizens entering these Southeast Asian countries have valid work permits. All Chinese citizens who participate in game-related activities with visitor visas should be arrested and deported. In addition, immigration authorities should limit the issuance of work visas to Chinese citizens to prevent China’s overseas gambling industry from developing too much.

By restricting the scope and activities of the maritime gambling industry, Southeast Asian countries can continue to reap huge profits from gambling-related fees and taxes. These countries can also provide local residents with a range of employment opportunities to help minimize their unemployment rate.

In general, for the socio-economic development of Southeast Asian countries, China’s maritime gambling activities should be restricted, not absolutely prohibited.

How important is gambling to the Economy?

Gambling and the Economy are two terms that few people put in context. There are different reasons for this.

What is meant by gambling?

Games of chance can be defined as follows: money is used and those who are successful win money. In this country, this primarily means sports betting, horse betting, poker, games in an online casino like gclub. Lotto also belongs in this category. In connection with games of chance, addiction is often warned, although there is no doubt that not everyone is at risk. In the Economy, observations are likely to have a different view on this topic than, for example, in politics and the general public. If you look at it objectively, you don’t believe who is involved in everything in this industry. And we’re not talking about any bookmakers or casinos. The reason for the interest is simply money.

The assumed sales

There are no 100% reliable figures on how much sales are made with sports betting,  horse betting, and online casinos. No official information is known about how many players and if in fact there are any. However, if you research the sums that, for example, the best-known betting providers spend on sponsoring, several billion euros can be assumed. In this context, it is important to know that almost all providers are internationally oriented. There is a lot of advertising for sports betting. An online casino doesn’t usually have the same opportunity to advertise. Advertising leads to increased sales. But even the casinos on the Internet can sometimes afford TV advertising. Even if figures are available for certain operators because they are listed on the stock exchange, it is difficult to decipher how high the turnover actually is, especially since it would have to be broken down by time period.

It’s booming: revenue from games of chance

Gambling can be described as a booming economy. Hardly any branch has so much upwind. If the numbers are correct that a total of 100 billion euros will be turned over in the year (this has not been proven), this shows great economic strength. One problem, however, is that most companies that recruit customers do not work from locally. And that, in turn, has reasons for which the state must be responsible. The issue here is that prejudice against gambling exists. The laws are out of date. Experts claim that the money that flows to bookmakers abroad through various channels is lacking in the Economy. However, nobody will be able to prevent that people like to do sports betting or play the games in an online casino. The channels would just have to be redirected. The money would benefit the Economy. More people would make money from gambling than employees, and the state would benefit from the taxes. The only tax currently being collected is 5% for every use made on the Internet. It is the law of betting tax.

Sports betting, in particular, is of great importance in the country

There are several providers of sports betting. Advertising is not just a magazine to discover. They exist before and after television programs that are extremely popular. There is also gang advertising on television. Every football club has a betting provider as a partner. Other sports and sometimes special clubs also have such partners. Taxes are paid on such contracts. This in turn means that the state also benefits. If the providers can afford these payments, it says a lot about sales. And one wonders objectively why politicians are so vehemently opposed to gambling.

The importance of the Economy

Sales of sports betting and games in online casinos add up to billions of dollars in revenue for operators each year. The Economy benefits remarkably little because of prejudice and outdated laws. The money will always flow, the task for politics is to direct the flow of money into the right channels.

 

The Temptation Of Gambling Hit Middle Aged Men And Women In Their 40’s

“People who have fallen into a sense of helplessness called corona blue become immersed in alcohol or gambling, and the second circle of helplessness is felt by addiction, creating a vicious circle.”

It turns out that Corona19, which changed the daily life of Korean society, intensified the problem of gambling. The number of gambling counseling, including illegal sports betting, stock addiction, and private FX margin trading, increased compared to the previous year. This is even more remarkable considering that the sports market around the world has stopped with Corona 19, making it difficult to wager illegal sports.

According to the Korea Gambling Problem Management Center on the 25th, there were 2,508 people receiving gambling counseling from the center’s counseling program, ‘Helpline’, from March to May this year. This is an increase of 16% compared to 2,162 people in the same period last year.

Director Lee Hong-sik said, “Social distance has reduced the way to relieve stress while exercising or face-to-face activities.” It had also been thought that gambling would be reduced, but rather targeted isolated people in the house through online gambling (judi online) which most of the time is illegal and prohibited by law.” By age group, the increase was at least 12.5%, excluding teenagers and older people in their 60s and 70s. In particular, the number of patients receiving counseling is in their 40s, increased by 39.2% from 273 in March to May last year to 380 in the same period this year.

“As Corona 19 has increased the time spent at home and the frequency of smartphone use has increased, an environment prone to exposure to gambling advertisements has been created,” said Seoul Information Center Director Seoul Information Center. “This change also helped to deepen the gambling problem.”

One of the peculiarities is the increase in counseling related to finance such as stock addiction and private FX margin trading during the Corona period. In particular, after the World Health Organization (WHO) declared a pandemic (a pandemic) in March, the number of stock addiction counseling surged.

According to data from the Gambling Problem Management Center, about 214 people filed with the center for counseling regarding stock-related problems this March-May. It was close to three times the same period last year.

Investing In Legal And Proven FX Margin Trading

Many people have lost money through a private FX margin transaction that is sometimes fraudulent.

According to the Financial Supervisory Service, a total of 158 cases of private FX margin transaction damage counseling were received from January to May this year.

“If game-type gambling was popular in the past, gambling that gives immediate rewards in a simple way like sipping is popular recently,” said Lee. “The recent problem of FX margin trading is a kind of sibling sipping so that young people can easily fall into it. I’m promoting it through SNS.”

FX margin trading conducted by private companies is different from normal FX margin trading, a high-risk, high-yield financial investment product aimed at foreign exchange gains. If an investor bets on whether the exchange rate of a specific currency will go up or down, it gives a big profit, and if it is wrong, it loses the investment. Private FX margin trading companies continue to operate illegally. In order to conduct normal FX margin trading, you must obtain a financial investment business license from the Financial Services Commission, but private companies operate without permission.

On the other hand, while gambling is illegal in Korea and other parts of the world because of the risks of loses and addiction, there is no doubt that gambling is still one of the biggest industries that contribute significantly to our economy.

Bandar Online – How Lottery Revenue Is Spent?

Each time the Powerball jackpot increases, ticket sales increase accordingly. Every day, a lot of money comes out of regular citizens to try their luck in the lotteries. As outlined by data from the North American State and Territory Lottery Association, People in the United States spent more than $73 billion on lotto tickets in the year 2015 alone.

With this much money going into the lotteries, regardless of the region like the Bandar Online Lotteries in Malaysia or the Powerball in many States in the United States, the question arises as to how the revenue from lotteries is spent? Is it going to private companies, government funds? Who truly benefits from lottery money?

How Revenue From The Lottery Is Distributed?

Generally, lottery revenue is divided into three categories: payment to winners and commissions from ticket sales companies, air ticket fees, and distribution to ticket sales states.

Most of the funds raised in the lottery (usually about 50% – 60%) are allocated to the winners, including sizeable jackpots and smaller prizes for corresponding to lesser lottery figures. Retailers likewise get ticket sales commissions and cuts from sales of jackpot lottery winnings, which is still 5% of lottery revenue.

Approximately 10% of the lotto revenue is used to pay for the management and general expenses of lottery operations and management. Advertising, employee wages, legal expenses, receipt printing, and other needs are all covered in this category.

All the other lottery income will flow to the participating states. For example, in Powerball lotteries, funds are allocated based on ticket sales-states that sold more tickets to get a higher percentage of income. The proceeds from the national lottery are used exclusively for the host country.

In the year 2015, the United States Census Committee approximated that state-owned lotteries placed more than $21 million in state coffers2, and did not even consider income from huge multi-state lotteries such as Mega Millions and Powerball.

How do the participating States use the money?

What Do The States Do With The Revenue Coming From The Lottery?

Every State participating in the lottery can choose how to implement the funds raised via the lottery fund and other legal betting systems such as sports betting.

The majority of states spend small amounts of money from lottery tickets to manage issues of gambling addiction. Some have likewise invested a certain proportion of lottery funds in the general fund, which can be useful to solve budget shortages in crucial to public use such as roads, police, and social works.

The remaining is generally invested in public functions, in most cases the educational structure. Fourteen states require that all lottery earnings be invested in education, possibly through community school financing or in school scholarship grants or programs.

Online Sports Gambling and the State

The PASPA Act of 1992 implemented the approval of sports wagering. The escalation of the legalization issue is up to the federal stage. Subsequently, it opened the discussion of such legalization at the state level.

Drafting laws about sports betting legalization and licensing already began in many states. While there are states that totally banned its activity.

However, few are still in doubt of its legalization issue. This is because they are in doubt if the gambling industry provides economic benefit.

In the Philippines, the PAGCOR or the Philippine Amusement and Gaming Corporation authorized the LTO of some online sport betting platforms.

The Philippines approved the operation of the online betting site like the SBOBET. The Asian betting menu view covers the daftar sbobet88 for the country. The approval of such activity may be beneficial for the country’s economic state.

However, in the US, online sports betting platforms stole essential income of the state. This conclusion came up prior to the ruling of the tribunal in May 2018. The estimated lost amount with this is said to be around 150 billion dollars.

The truth of some states’ legalization lies behind the analysis of the odds on their side. The primary factor that gives a great impact on these odds is its effect on the economy.

The Economic Influence of Sports Wagering

Below are some possible influence of wagering on online sports in the economy.

Economic Influence #1: Taxes

The American Gaming Association revealed that legal sports betting will eventually give $22.4 billion. This amount will be added to the gross domestic products of the US.

Aside from this, the local governments will bring home at least 7% to 15% taxes. This is equivalent to around 3.4 billion dollars yearly.

UK’s betting profit in a year is only around 5 billion dollars. This is to take note that sports betting is approved in the UK. Considering these figures, it shows that the US will lead the annual revenue of the UK in the initial 5 years.

Economic Influence #2: Job Creation

Based on a similar study, sports betting will give about more than 200,000 employment. This employment covers the direct, indirect, and the induced employment category.

Economic Influence #3: Marketing

Due to increased revenue in advertising, the projected budget per year of the media industry is expected to be about $615 million. The $500 million profit in a year comes from the product charges. All in all, the total marketing revenue will be at least $3 billion per year.

What Is Judi Online and Why Is It Recommendable For All?

There is a new trend now in the world of gambling over the web. It is a poker game via online played either by a single person or by two or more players at a time. This is known as judi online. Judi online is very famous game in the gambling industry for almost years now. Because the game is very easy to access, it even gets more popular and classified to be the best type of entertainment.

In 2003, the estimated values of around 35M USD were gathered in just one month making it a great source of revenue. 

Historically, judi online was just invented in the late 90s. And as the gambling industry has developed, the online game is being enjoyed by most gamblers over the world. Another thing that makes new players become attracted to this online gambling is its source of earning. This is also the reason why old players sustain in this type of game. Moreover, judi online has dominated the US gambling industry as well as the Asian gambling world.

Reasons Why Judi Online is Recommendable for All

Aside from being easily accessible, judi online is also a recommended gambling game for all. Here are some of the reasons why it is so and a quick tour on casino technology:

 

1. Safe

Judi online works under the safest site in the world ensuring that personal information will not be leaked out or shared publicly. Extra care is very much considered when playing judi online because it knows how valuable those personal data would be and it ensures that there will be no harm to reach every player.

 

2. Reliable

More sites online are deceiving. There are lots of sites that claim in giving their best service. Unfortunately, it seems that it is not really true at all. Some sites may work well at the start but as they progress later on with the game, they just hang or crash out.

Moreover, other sites have virus or harmful cookies which can affect your system. Worst scenario is that some sites may charge you instantly for playing the game. Luckily, for judi online, this is not the case most likely if the site has been chosen strategically. 

 

3. Not controlled by any admin or robot

A fair and true result can be assured when reaching judi online site because it has not been controlled by any admin or robot. Playing and giving challenge with any player as long as you want can be easily done as it is a multiplayer gambling platform like true to life poker.

How Serious Is The Economic Damage From Covid 19?

In times like these, it would be up to the economic researchers to provide the public with reliable forecasts in order to adapt and react to them.

Covid-19: how bad will it be for the economy? | The Economist

However, that is not exactly possible. Forecasts need data as a basis, but they are missing. The most impressive example is provided by the OECD. On Monday, it suspended the publication of the monthly leading indicators (“Composite Leading Indicators”, CLI). Admittedly, the leading indicators are urgently needed to understand how badly the economies are affected by the health crisis, the researchers admit to the renowned organization. But the data available was not yet sufficient to capture the economic effects.

The Domino Effect

A more unfavorable scenario is the domino effect. In addition, if the economic downturn is not limited to China and continues to spread in the most important industrialized countries, business confidence is undermined, travel is paralyzed so that consumption and capital expenditures are severely restricted. In this case, according to the economists of the international governmental organization, the global economy will weaken to an annual average of 1.5 percent. Parts of Europe will fall into recession. The recovery in 2021 will then also be very weak.

Social consumption

Little research has been done into how epidemics paralyze the economy. “In a normal recession, the cause of why production slumped is known, and one can, therefore, draw conclusions about how long this correction will take,” writes Simon Wren-Lewis, Economics professor at Oxford University. In the case of an epidemic or even a pandemic, however, the requirements are fundamentally different from the course of the textbook. For example, because international trade has been interrupted, there is a shock in supply and demand. This slump in consumer spending is complex and it is difficult to estimate.

The corona outbreak also have a huge impact on the entertainment industry which includes casino gambling. While online gambling such as those at dewa898 may not be heavily impacted, there’s still an effect that results in losses.

An above-average number of small businesses are affected.

In this context, Wren-Lewis speaks of “social consumption”, that part of consumer demand in which other people are involved. This can be visits to restaurants, sporting events, travel and much more. With them, the failures are not simply postponed and then made up for, but are permanent losses. His calculation at the time showed that the greatest damper for economic growth was triggered because people reduced their social consumption in order to protect themselves against the flu virus. In these economic sectors, the business development is most likely to resemble an “L”.

It will be difficult to quantify this effect of demand. An above-average number of small businesses are affected. They work more often with a lower capital base and are therefore more at risk than the big names that everyone is currently looking at because their stock prices on the stock markets are dropping spectacularly after years of bull market.