Taiwan anticipates significant growth in sportsbetting

Lea Hogg 2 months ago
Taiwan anticipates significant growth in sportsbetting

The Taiwan sports betting market is poised for substantial growth, with legal experts foreseeing the possibility of doubling its revenue in the coming years.

Lawyers from Lin & Partners, a Taiwanese law firm, have spoken about the current steady growth and the potential for further expansion in both sports and public welfare lottery betting.

Legal Gray areas and challenges in the Taiwanese gambling sector

While the legal experts foresee growth, challenges persist in the Taiwanese gambling industry.

The current legal framework permits only two forms of gambling—the public social welfare lottery and sports lottery. Concerns include illegal betting operations thriving due to more favourable payout ratios and ambiguities in the services companies can provide for overseas gaming operations.

The legal experts highlighted the potential for heightened competition in the sports betting sector, especially if multiple concessions are granted, creating a more dynamic business environment.

However, they also expressed caution, noting that legislative changes are yet to be advanced despite some push for a broader scope in sports lottery betting.

Land-based casinos face regulatory hurdles

The long-debated issue of establishing land-based casinos in the outlying islands of Penghu, Kinmen, or Matzu is still pending approval from the Taiwanese parliament. While there was an amendment in 2009 allowing for tourist casinos in outlying islands following a referendum, the lack of a Tourism Casino Administration Act has hindered progress. The current administration’s stance, coupled with tensions with the People’s Republic of China, adds further complexity to the casino development discourse.

Despite legal gray areas and regulatory challenges, Taiwan’s sports betting market remains optimistic about future growth, awaiting potential changes after the 2024 presidential elections.

The iGaming sector in Taiwan could see transformation if the government addresses these issues and aligns with evolving global trends in the gaming industry.

Sportradar secures 10-year contract

In the meantime, Lin & Partners played a pivotal role in Sportradar winning a 10-year contract to become the official technology and services solution provider of the Taiwan Sports Lottery.

This collaboration, set to run from 2024 to 2033, involves a consortium comprising Sportradar, licence holder ADATA Technology, operator Taiwan Sports Lottery Company Ltd (TSLC), and China Trust Bank (CTBC).

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