500.com Enters Into Strategic Partnership Deal With China Mobile - Quick Facts

(RTTNews) - 500.com Limited (WBAI), an online sports lottery service provider in China, announced Thursday that it has signed a strategic partnership agreement with China Mobile Limited (CHL) to become the sole provider of online sports lottery products to China Mobile Points Mall .

The agreement will provide easy and convenient access for China Mobile's 770 million subscribers to purchase 500.com's online sports lottery products using loyalty points.

China Mobile Points Mall is an online marketplace where China Mobile subscribers can redeem loyalty points.

Under the deal terms, 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 online sports lottery products provided 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.

As of January 2014, approximately two-thirds of China Mobile's 770 million subscribers have redeemed loyalty points on the Points Mall.

In January this year, 500.com signed a strategic partnership agreement with China Mobile E-commerce Limited, a subsidiary of China Mobile, allowing payments to be made for 500.com's mobile sports lottery products on China Mobile's vast network.