China Gaming Ban: True or False? The Truth Is Out There
The world is in an uproar over China ban on online games. What does the future hold for Chinese gamers? How will this ban affect online gambling? Who are the losers, and who are the winners of this new law? These questions have yet to be answered, but many speculations are running rampant about what will happen next.
There What does this mean for the games industry in China? Loss of jobs, revenue, and tax dollars are just a few consequences that will affect Chinese citizens now that internet gambling has been banned throughout China by their government. Banning online games was not an easy decision to make as it directly affects many people’s livelihoods who depend upon working at these companies full-time. It is estimated that over 500 million gamers play video games daily within the country alone! This new law comes into effect on February 28th, which gives any current employees to find another job before they too lose their source of income.
This China ban will affect the jobs of those who work for Tencent, a Chinese gaming company with close ties to Blizzard, and other corporations involved in internet casinos and gambling sites that their government has banned. Many analysts within China see this move as purposefully set into motion months ago when rumors were flying about the possibility of this new law coming into effect. It seems clear now that they wanted time to prepare before finally enacting it, which has caught everyone off guard, from industry workers to foreign investors worldwide. However, not all companies are affected equally due to how large or small they may be compared against others working in this same business space.
The gaming industry in China was worth close to $24 billion the previous year, which is a staggering number when looking at their total GDP for the same amount of time. This aligns with other countries who contribute similar amounts to this popular space, such as Canada or Australia! The majority of that revenue comes from online gambling sites and includes sales made through mobile games and individual players purchasing items within titles they choose to play.
It is estimated that over half of the revenue generated from online gambling in China comes from mobile games, which will not be affected by this ban. This means gamers who enjoy playing these types of titles can continue to do so without disruptions and still earn money for their efforts! However, those who make a living through selling virtual goods such as clothing and unique weapons within massively multiplayer online (MMO) games might want to consider other options in the future due to how much they rely upon having access to the internet at all times.
