|Tuesday, December 14, 2004||Contact: Maurits Bruggink|
|Betting on horseracing in China?|
During a conference in China last week, Chinese gaming experts called for the authorisation of betting on horseracing and casinos. Today, only state-run lotteries are permitted on mainland China.
The reports came from the South China Morning Post, who quoted experts from the Peking University, Ministry of Finance and National School of Administration.
According to these experts, the estimate of mainland betting on horseracing and casino spending outside mainland China is 600 billion Yuan (ca. 72 billion US$). The reasons brought forward for legalising these forms of gambling are to fight against illegal gambling and to stop the export of gambling money.
Some insiders in the horseracing sector are predicting the authorisation of betting at the Beijing Olympic Games in 2008.
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