NASDAQ-listed 500.com has signed a strategic partnership with China Mobile to become the sole provider of online sports lottery products to the state-owned telecommunications company’s Points Mall online marketplace.
The China Mobile Points Mall is an online marketplace which allows the company’s 770m subscribers to redeem loyalty points.
The deal with 500.com will see customers able to purchase online sports lottery products using loyalty points. Approximately two-thirds of these subscribers have previously redeemed loyalty points on the Points Mall.
“We are incredibly proud to have been selected as the sole provider of online sports lottery products for China Mobile's Points Mall,” said Man San Law, founder, chairman and CEO of 500.com. “We expect to see sales volumes increase significantly as our products become available to China Mobile's 770m subscribers.
“We look forward to developing an even deeper relationship with China Mobile as we work to integrate our products into their vast ecosystem.”
Under the agreement, 500.com’s online sports lottery products will become available for redemption with loyalty points on the Points Mall for a period of up to two years, upon which the agreement can be renewed.
The products provided by the company will be available in all of China's 31 provinces, municipalities and autonomous regions. China Mobile will reimburse 500.com for the products purchased in cash.
500.com already provides lottery purchase and information services to China Mobile users through its internet, mobile apps, WAP and SMS channels.