Bet365 leaves Chinese market to focus on core regions
Bet365 will stop offering services to Chinese users from March 27. The decision reflects a shift in strategy as the company concentrates on markets that offer long-term, sustainable growth. The announcement follows ongoing regulatory hurdles in mainland China.
Exit date and account access
Bet365 first shared the news via its support account on X. In response to a customer, the company wrote:
“We will unfortunately no longer be providing our services to customers residing in China.”
The change takes effect on March 27. Affected users will still have access to their accounts until April 30. After that date, they must contact Bet365 directly to withdraw funds.
A shift toward core markets
Bet365 called the move “a business decision.” In a statement to EGR, the company explained:
“Bet365 continually reviews and assesses the markets to which it offers its services. The group has decided to align its focus to its core competencies in its core markets by consolidating its resources to centre on gaining market share in regions that provide long-term sustainable revenue.”
The company also plans to exit other markets, but has not confirmed which ones.
Legal limits and mirror sites
In China, gambling is mostly illegal. Only state-run lotteries operate legally. Macau and Hong Kong have more relaxed laws, but these don’t apply to the mainland.
To reach users, some foreign operators rely on “mirror sites.” These are copies of betting sites with different domain names or IP addresses to bypass blocks. In 2022, Business Insider reported that Bet365 and its affiliates used 59 such sites in China.
At the time, Bet365 claimed it did not believe this activity broke the law. It also stated that China’s penalties had not changed its position.
Financial growth without regional data
In its latest financial report, Bet365 showed strong growth. For the 53 weeks ending March 31, 2024, revenue rose by 9% to £3.7 billion. Profit nearly reached £400 million. However, the report did not include a regional breakdown. The directors wrote:
“A geographical analysis of turnover has not been given as in the opinion of the directors such a disclosure would be severely prejudicial to the interests of the group.”
Bet365 operates in over 150 countries and supports 22 languages. The company has not said how much of its revenue came from China.
Market size and future impact
Regulus Partners estimated in 2020 that direct-to-consumer online gambling in China was worth $15 billion in net revenue per year. The estimate excludes activity via betting agents.
Bet365’s exit removes a major international brand from that space. It remains to be seen how this move will affect the company’s global footprint.
Source: EGR Intel