500.com Limited Filed 2019 Annual Report on Form 20-F

SHENZHEN,China,Dec. 14,2020 -- 500.com Limited (NYSE: WBAI) ("500.com" or the "Company"),a leading online sports lottery service provider in China,today announced that it has filed its annual report on Form 20-F for the fiscal year ended December 31,2019 with the Securities and Exchange Commission on December 11,2020 Eastern Time. The annual report can be accessed on the Company's investor relations website at 500.investorroom.com. The Company will also provide a hard copy of the annual report containing its audited consolidated financial statements,free of charge,to its shareholders and ADS holders upon request.

About 500.com Limited

500.com Limited (NYSE: WBAI) is a leading online sports lottery service provider in China. The Company offers a comprehensive and integrated suite of online lottery services,information,user tools and virtual community venues to its users. 500.com was among the first companies to provide online lottery services in China,and is one of two entities that have been approved by the Ministry of Finance to provide online lottery sales services on behalf of the China Sports Lottery Administration Center,which is the government authority that is in charge of the issuance and sale of sports lottery products in China.

Safe Harbor Statements

This news release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934,as amended,and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "target," "going forward," "outlook" and similar statements. Such statements are based upon management's current expectations and current market and operating conditions,and relate to events that involve known or unknown risks,uncertainties and other factors,all of which are difficult to predict and many of which are beyond the Company's control,which may cause the Company's actual results,performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks,uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information,future events or otherwise,except as required under law.

For more information,please contact:

500.com Limited

ir@500wan.com

Christensen

In China

Mr.Eric Yuan

Phone: +86-10-5900-1548

Email:Eyuan@christensenir.com

In US

Ms. Linda Bergkamp

Phone: +1-480-614-3004

Email: lbergkamp@ChristensenIR.com

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