{"id":90418,"date":"2018-10-14T12:00:54","date_gmt":"2018-10-14T19:00:54","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=90418"},"modified":"2018-10-14T11:24:25","modified_gmt":"2018-10-14T18:24:25","slug":"china-blockchain-gambling-market-to-explode-in-next-five-years","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/china-blockchain-gambling-market-to-explode-in-next-five-years\/","title":{"rendered":"China Blockchain Gambling Market to Explode in Next Five Years, Says Blockdraw CEO"},"content":{"rendered":"

The Chinese online gambling market will continue to grow despite the best efforts<\/a> of the Chinese government to stamp it out, and the future of the market is blockchain.<\/p>\n

\"Blockchain\"
Blockdraw CEO Darin Oliver believes that China cannot block crypto and the government\u2019s fight against capital flight is strengthening cryptocurrency investment in the country. (Image: Deskgram)<\/figcaption><\/figure>\n

That was the message from cryptocurrency expert Darin Oliver, who spoke to Inside Asian Gaming<\/em> last week at the G2E gaming conference in Las Vegas.<\/p>\n

Oliver is the CEO of blockchain online casino Blockdraw and he believes that the Chinese market will soon have the same kind of effect on online gambling as it has had on the live casino markets of Macau, the Philippines, and elsewhere.<\/p>\n

Rapidly growing internet penetration rates in Asia indicate there will be a huge surge in new online gamblers in the coming years. While Russia is expected to add 20 million internet users over the next five years, China is expected to add a whopping 120 million.<\/p>\n

Meanwhile, the biggest growth markets for cryptocurrency are currently China, the rest of East Asia, and Eastern Europe, which Oliver notes are also the biggest growth markets for gambling.<\/p>\n

When you have these new opportunities for a financial industry to occur, and you have growth occurring in certain sectors, it represents an incredible opportunity which is why I\u2019m very bullish on online gambling, particularly crypto-only online gambling,\u201d he said.<\/p><\/blockquote>\n

Great Firewall<\/strong><\/h2>\n

China has promised to mete out \u201csevere punishment\u201d to those offering gambling to its citizens from abroad and is engaged in a continuous crackdown against online operators. All forms of gambling are illegal in the country with the exception of the state-owned national lottery and sports lottery.<\/p>\n

The country operates a vast program of domestic internet censorship and regulation, dubbed \u201cthe Great Firewall,\u201d blocking access to sites deemed undesirable as well as routinely monitoring the internet access of individuals.<\/p>\n

\n

But even with a huge task force of \u201cinternet police\u201d — reported in 2013 to comprise some two million people — shutting out gambling is a difficult game of cat and mouse<\/a> for Chinese authorities.<\/p>\n<\/div>\n

China-facing operators are increasingly embracing newer technologies like cryptocurrencies to stay a step ahead. And before last summer\u2019s World Cup many migrated to social messaging platforms after their websites were shut down.<\/p>\n

China Can\u2019t Block Blockchain<\/strong><\/h2>\n

Meanwhile, China\u2019s ongoing crackdown on capital flight also boosts the appeal of cryptocurrency, says Oliver. Cryptocurrencies will always thrive in countries where faith in the domestic currency is weak. The inability to move renminbi out of the mainland will make investment in decentralized currencies more attractive, he adds.<\/p>\n

The Chinese have a difficult time cracking down on crypto because it\u2019s very moveable \u2026 and it\u2019s not a surprise that crypto is popular in countries where the currency is questionable,\u201d says Oliver.<\/p><\/blockquote>\n

\u201cThe idea that they can block crypto is nonsense. These countries already have problems with their currencies \u2013 every country in Eastern Europe struggles to have faith in their currency and the same rings true of the Chinese.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

The Chinese online gambling market will continue to grow despite the best efforts of the Chinese government to stamp it out, and the future of the market is blockchain. That was the message from cryptocurrency expert Darin Oliver, who spoke to Inside Asian Gaming last week at the G2E gaming conference in Las Vegas. Oliver […]<\/p>\n","protected":false},"author":36,"featured_media":90420,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,24066,19,16693],"tags":[],"acf":[],"yoast_head":"\nChina Blockchain Gambling Market to Explode in Next Five Years<\/title>\n<meta name=\"description\" content=\"China cryptocurrency gambling market will take off in a big way over the next five years, thanks to huge internet penetration growth and a lack of faith in renminbi, says Blockdraw CEO Darin Oliver.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/china-blockchain-gambling-market-to-explode-in-next-five-years\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"China Blockchain Gambling Market to Explode in Next Five Years\" \/>\n<meta property=\"og:description\" content=\"China cryptocurrency gambling market will take off in a big way over the next five years, thanks to huge internet penetration growth and a lack of faith in renminbi, says Blockdraw CEO Darin Oliver.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/china-blockchain-gambling-market-to-explode-in-next-five-years\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2018-10-14T19:00:54+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2018-10-14T18:24:25+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/10\/darin.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"734\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Philip Conneller\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@casinoorgphilc\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Philip Conneller\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/china-blockchain-gambling-market-to-explode-in-next-five-years\/\",\"url\":\"https:\/\/www.casino.org\/news\/china-blockchain-gambling-market-to-explode-in-next-five-years\/\",\"name\":\"China Blockchain Gambling Market to Explode in Next Five Years\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/china-blockchain-gambling-market-to-explode-in-next-five-years\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/china-blockchain-gambling-market-to-explode-in-next-five-years\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/10\/darin.png\",\"datePublished\":\"2018-10-14T19:00:54+00:00\",\"dateModified\":\"2018-10-14T18:24:25+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/58769b72851c8cf117fb58ca150ebf8b\"},\"description\":\"China cryptocurrency gambling market will take off in a big way over the next five years, thanks to huge internet penetration growth and a lack of faith in renminbi, says Blockdraw CEO Darin Oliver.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/china-blockchain-gambling-market-to-explode-in-next-five-years\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/china-blockchain-gambling-market-to-explode-in-next-five-years\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/china-blockchain-gambling-market-to-explode-in-next-five-years\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/10\/darin.png\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/10\/darin.png\",\"width\":1200,\"height\":734,\"caption\":\"Blockdraw CEO Darin Oliver believes that China cannot block crypto and the government\u2019s fight against capital flight is strengthening cryptocurrency investment in the country. 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