China is a great market for gambling – both for sports betting and for casinos. In fact, a lot of people have been using a pay per head service to try and capture that market for a long while now. But in the Philippines, the Cagayan Economic Zone Authority, or CEZA, is announcing a memorandum of understanding with Shanghai Jucheng Supply Management, or SJSM, a Chinese conglomerate.
The memorandum centers on plans for an integrated resort casino to be held in the Cagayan Special Economic Zone and Freeport. Reports say that the plans will be similar to how Jeju Island in South Korea was built in terms of the amenities they will offer. Cagayan is located in north Luzon, the largest island in the archipelago. The area is known for pristine white sand beaches, and other features that will go along nicely with resort casino developments. Cagayan is also a popular port, particularly with other South East Asian countries, China as well.
The other signatory, the Jucheng Group, meanwhile, is mostly focused on trade, customs clearance services, inspection services, manufacturing, logistics and others. There is no mention of gambling as they have no prior experience with this. But CEZA is welcoming this memorandum since it will fit in with their plans to diversify their finances. This is largely because CEZA now has very limited authority to oversee online gambling. CEZA, for the past few months, has been receiving communications from operators on proposals to operate gambling establishments in the area.
This comes after the news that President Rodrigo Duterte has previously said that he does not want new casinos opening in the Philippines. Most recently, through a task force, the President made an order to shut down and cancel licenses issued to operators in the newly reopened Boracay Island.
Technically, CEZA can issue new licenses. But then again PAGCOR has the same authority with the Boracay operators and they got shut down It will mostly be a waiting game to see if a Chinese gambling establishment will eventually open in Cagayan.
The year-on-year increase for income on inward direct investments for Macau gambling is at 34.5% for 2017. This means the inward direct investments for that year is at MOP37.9 billion, or around $4.7 billion. Macau’s Statistics and Census Service, or the DSEC, has released this information. The total income for this particular special administrative region is MOP 58.6 billion, or $7.2 billion. Meanwhile, the gambling sector’s share on this amount is at 64.5%. On an international level, one can see from gambling industry news that a lot of investments and revenues on gambling are enjoying upward trends.
Serious sports bettors want to win money. The more they earn, the better. And quite a number of sports bettors have thought about putting up their own sportsbooks to earn more money. After all, instead of just winning one what you bet, a Pay Per Head Bookie will enjoy income from all wagers made under his sportsbook.
But most of those who think of taking the next step to be a bookie feel intimidated with the workload required to manage a sportsbook. While it is true that you will need to put in some work to build a stable and profitable sportsbook, it certainly does not require a lot of resources. Oftentimes, the simplest way is the best way to create your own sportsbook.
The numbers for the gambling industry’s contribution to the US Economy for 2017 has been released by the American Gaming Association. In terms of sales, the gambling industry has contributed $261.4 billion for 2017, which shows an increase of 9.5% compared to 2014.
The $261.4 billion also generated $40.8 billion in taxes – for all federal, state and local. It also includes $10.7 billion worth of gambling taxes. According to the report, “The $40.8 billion of tax revenues supported by the gaming [industry] represents an injection into public budgets that pays for a range of services including public safety, hospitals and schools. In fact, total tax revenues… generated by the gaming industry are enough to pay for the salaries of approximately 692,000 teachers”.
Sports betting is made easier by sportsbook pay per head services. While these services are providing more value to your sportsbook, you still need to actively manage your books. An online management system makes it handy for bookies, but increased efficiency means that the bookie will still work out the fundamentals in your sportsbook. There are a lot of resources online, such as How To Be a Bookie for Dummies, that will teach you’re the basics of becoming a bookie. But before that, there are a few steps you can take prior to starting your operations that will enable you to be a successful bookie.
First, you need to make the time, Being a bookie is not just letting an app or a website operator and do everything for you. You will need to dedicate hours in a week to fix and modify your lines, monitor your players, arrange for payouts, and some time to focus on marketing to expand your player base. Do not consider being a bookie as a side job you can do in a couple of hours. The larger your operation, the more time you need to work so you can fine-tune your sportsbook and improve your income.
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