One year on from receiving their first virtual car racing program, China appears to be going crazy for virtual car racing after sales of Lucky Racing (the name of China’s first virtual car racing game) passed two hundred and five million dollars this year.
AGTech Holdings, who produce the game, offer rapid-draw fixed odds for the game, which is very akin to the types of odds online sports books offer on their Formula One sports betting games.
AGT Tech launched the game last year along with Ladbrokes, one of Britain’s and the world’s leading online and brick and mortar sportsbooks. After only a year, 1,500 locations in Hunan already have the Lucky Racing game. Within a month of being released, the virtual car racing game had already accumulated fifteen million dollars in revenue.
Three new betting types are also due to be released by AGTech for the Lucky Racer game. Entitled the Group First Two, Group First Three and Big-Small/Odd-Even betting groups, they are due to be introduced to the virtual car racing platform in the very near future.
John Sun, who is the chairman and chief executive officer of AGTech has already complimented the system numerous times, and still firmly believes that the virtual car racing game will help the company conquer the Chinese gambling market.
It is Mr. Sun’s hope that the virtual car racing game will crack the regulated online betting market in the strict anti-gambling country. Mr. Sun is very optimistic about the eventual opening of brick and mortar betting shops in China in the future, as well as possible leisure resorts offering the game. It has also been touted that the game could appear on mobile and television internet betting platforms.
Although the game has been aimed at conquering China, a wiser option would surely have been to aim it at Hong Kong, or more specifically Macau, where gambling is not closely regulated by the Chinese, due to their status as former colonies. Macau is considered by many to be the capital of Asian gambling, and the second most popular gambling resort in the world, after Las Vegas in the United States.
Although virtual car racing may be new to China, virtual car racing and virtual sports leagues in general have been common in Europe for some time now. Although obviously nowhere near as popular as real car racing betting or betting on sports such as football, formula one and tennis, the virtual games have been far from a failure.
In China the phenomenon is positively booming and AGTech predicts a very bright future indeed for Lucky Racing.