Construction Of Credit Management Model In Instant Sports Lottery Of China

Since the new variety of instant sports lottery—Olympic instant lottery were sold in March 2008, the instant sports lottery have achieved a fast and healthy development, which greatly promoted the development of China sports lottery and the national fitness campaign. With the success of issuance and drawing on advanced international experience, the management of instant sports lottery has been upgraded from previous manual system to the electronic sales management, which makes the whole management and monitoring of logistics sales come true. However, during the current sales process, in which the instant sports lottery has been sold from administrations to betting centers, there is no credit management involved. The existing settlement system of ticket and payment limits the inventory and display for the betting centers to a large extent, and also results in cash flow difficulties, ultimately, limits the sales of instant sports lottery, which it is also not conducive to the expansion of the new betting centers. However, thanks to the special nature of lottery products—the fundamental purpose of its distribution is raising welfare funds for the public welfare, so financial security is highly concerned by the public, which directly affects the credibility of lottery. Therefore, the lottery management administrations are seriously cautious about the credit management, which cause the situations followed:on the one hand, the betting centers are urgent to be granted sufficient credit by the management administrations; one the other hand, the management administrations must ensure the safety of the sales money for security considerations. Under these circumstances, it is very necessary to construct a credit management model which suits the instant sports lottery, and it is also the development trend of the future.Currently, there are few research on the lottery credit management, this paper provides the idea of building the credit management model of instant sports lottery based on the unified credit management practice of the commercial banks. In this paper, the following methods are used: literature, questionnaires, expert interviews, quantitative research an so on, a survey of the status of sales and settlement system are conducted, and analysis of the necessity of construction the credit management model which suitable for instant sports lottery are made according to the result of the survey, and then the specific ideas and steps are pointed out in order to resolve the problems in current sales in the context of protecting the financial security to open up the new situation of instant sports lottery sales and to escort the development of the sports lottery.From the study findings, the following conclusions are as follows:This paper describes the practice of commercial banks in the unified credit management, from which the ideas of structuring instant sports lottery credit management model is formed, and uses the data and conclusions drawn from questionnaires, expert interviews to analyze the necessity and feasibility.This paper obtains the level indicators and secondary indicators in credit rating of betting centers credit management after survey, analysis and calculation.And then gives the appropriate weight of each indicator, provides security protection for the credit management by credit rating.Through the use of sales methods which is suited to the instant sports lottery sales, credit limit of credit betting centers is drawn according to the specific examples, which provides a basis for the establishment of credit limit.