- AGTech Holdings to provide state lottery with augmented reality
- The company expands across Asia
- AGTech continues to innovate across the region
China has awarded AGTech Holdings a contract to deliver augmented reality (AG) products for the state’s sports lottery, the company has revealed.
AGTech Holdings to Introduce AG to China Sports Lottery
A tightly-regulated sports betting & gambling regulator, China is often one of the most innovative ones. While the country clamped down hard on illegal sports betting during the 2018 World Cup, China has been pushing ahead with technological innovation. One of the latest decisions was to award AGTech Holdings a contract to introduce Augmented Reality (AG).
The group made a statement explaining the goals for the company moving forward and working with the national lottery. AGTech Holdings will try and focus on:
- Adding products that appeal to youths
- Drive growth
- Technological progress
AGTech refrained from releasing a detail breakdown of how the company intended to roll out the new product, with details coming further down the road. China remains one of the main bastions of AGTech. The company has been awarded other important contracts in the past.
In June, 2018, AGTech won a deal to install lottery terminals across multiple Chinese cities, including important populous centers, such s Shanghai, Guizhou and Hebei.
AGTech Pushing on All Fronts
AGTech’s successes are not limited to providing physical terminals and upping the ante for lotteries in terms of technological solutions. The company also entered into agreement with the Jiangsu Province Sports Lottery Administration Center.
As a result, AGTech’s will be in charge of promoting and marketing the lottery products. Jiangsu alone has posted over $3 million in terms of lottery sale in 2017, and the market has been growing. AGTech operates out of Hong Kong, which gives it some freedom to avoid mainland restrictions.
However, the company is owned by mainland giant Alibaba Holding and another company – Ant Financial. AGTech is also collaborating with an India-based company, Paytm Group, with the pair working on a new digital wallet, which would facilitate sports betting and payouts.
Meanwhile, the company remains at the forefront o technological innovation at home. On May 7, 2019, the company announced that it was working on a notarizable electronic lottery draw technology based on blockchain smart contract technology through a subsidiary. The company has won a tender to introduce the solution to the The China Welfare Lottery Issuance and Administration Center.
With the latest project, the scope of operation of AGTech Holdings has expanded quite significantly. The company has driven forays into AR, blockchain and smart contracts. Apart from providing terminals and physical hardware, AGTech is also now responsible for marketing certain of its products and helping partners gain momentum and better outreach.
In the meanwhile, the Chinese lottery continues to grow and it’s set to outpace all counterparts abroad in term of sheer total handle.