It is not considered illegal because such a bet is also mainly to motivate their respective companies to make their companies better. And such a bet is not the same as public gambling, so it's not illegal.
"The whole country is invited to testify that within five years, if our (Xiaomi's) turnover beats Gree's, Mr. Dong Mingzhu Dong will just lose me a dollar." December 12, 2013, in China's economic man of the year award ceremony, millet chairman Lei Jun shouted Gree Electric Chairman Dong Mingzhu. Dong Mingzhu immediately responded:"First, I tell you it's impossible; second, to bet not 1 dollar, I'll bet you 1 billion." Gree and millet's 1 billion yuan bet began.
With the release of millet's 2018 financial results, Lei Jun and Dong Mingzhu's 5-year bet finally see the end of the day, finally still Gree won, but Lei Jun and millet in the 5 years of growth also let Dong Mingzhu impressed, if you give millet a year maybe there is a possibility of more than Gree.
While the final result is a victory for Gree, but Dong Mingzhu did not really go to Lei Jun to get the 1 billion, but it is known that the 1 billion bet on this matter, whether it is for Xiaomi or Gree is beneficial, the two do not spend a penny on the perfect for their respective companies marketing a.
If honoring the 1 billion yuan bet, is it in line with today's various regulations?
"Lei Jun and Dong Mingzhu 1 billion yuan bet, in fact, more inclined to be a real intention to retain the banter behavior, the banterer's meaning is invalid, even if the bet expires millet turnover did not exceed Gree, Lei Jun also has no legal obligation to pay 1 billion yuan to Dong Mingzhu." Han Snap believes that, in any case, the 1 billion yuan bet between the two are not suspected of violating the law, not to mention the crime of gambling.
So such a bet is not illegal, and there are many such bets in the business world.