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While most forms of sports betting are banned in mainland China, people can gamble their income on two state-run official lotteries, the China Sports Lottery and the China Welfare Lottery. Last year, both lotteries generated a combined total of 426.6 billion yuan in revenue, making it the second largest lottery in the world. The China Sports Lottery allows people to stake money only on selected sporting events like international football matches or the FIFA World Cup. Betting on horses is banned but that could change soon with the government trying

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CBS is already seeing the benefits of sports gambling ads One CBS-owned station has begun to air gambling ads, and the company is reaping the benefits. As sports gambling grows thanks to this year’s Supreme Court decision striking down a federal ban , there was speculation on just how much  TV would benefit from advertising . Well, it appears that CBS is beginning to see significant benefits. Embattled CBS CEO Les Moonves told investors at an earnings call that one of its local stations in Philadelphia is already

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