China Takes First Step In Legalizing Pony

After nearly 60 years of going against the law in mainland China, the government has made the first move to legalize horse racing betting. On Nov. 29, a Chinese Spade Horse Racing Open Test event was held in Wuhan, Hubei Province, central China. Spectators were able to bet on two of the four races held at the Orient Lucky City Racecourse. The bets were freely available and winners received 20 instant lottery tickets by the Sports Lottery Bureau.

This is just a tentative approach to the Chinese government’s legalized gambling sphere, as all forms of gambling are still illegal by all official laws. The deputy chief of the Wuhan city sports administration told the media that the race was held as a test for racetracks, betting rules and the administration. 온라인경마

“This test run is to prepare for official events in the future,” Wang said. “If approved, the number of Chinese horse races, including betting, will be upgraded to a regular event held once or twice a week.”

Mr Wang also told media that although the test race went smoothly, he would not speculate when the horse betting would become a regular and legitimate event. One experiment that officials are doing is that bettors who guess the winner of a horse race get a lottery ticket with a 60% chance of winning a cash prize worth $600.

Legal and systematic gambling is only permitted in two cities, Hong Kong and Macau, both under different administrative systems. Hong Kong is a major horse racing hub, and Macau is a casino haven that recently surpassed Las Vegas. Gambling has not been allowed anywhere in mainland China since the Communist government came to power in 1949.

Since 2005, Wuhan has led the movement to legalize horse racing and gambling. Jin Jun-won of the Hubei Academy of Social Sciences said the establishment of a nationwide betting network will help the horse racing industry create 3 million jobs. The annual revenue from the lottery is expected to reach a whopping 100 billion yuan, and the government is expected to earn an additional 40 billion yuan in tax revenue.

Leave a Reply

Your email address will not be published. Required fields are marked *