24 May, 2012 AsiaNews.it Twitter AsiaNews.it Facebook         

Help AsiaNews | About us | P.I.M.E. | | Newsletter




Voli Low Cost Roma
Voli Milano




mediazioni e arbitrati, risoluzione alternativa delle controversie e servizi di mediazione e arbitrato

e-mail this to a friend printable version


» 09/07/2006 13:01
CHINA
China loses 600 billion yuan every year to illegal betting

Experts say this is how much Chinese gamblers lose, a sum siphoned out of the country by criminal rings. During the World Cup, the most bets on games were placed in China.



Beijing (AsiaNews/SCMP) – In recent years, illegal gambling fever has gripped the Chinese people, who are drawn by the hope of easy and quick gains, but also enmeshed in a morbid passion. During the World Cup of football in Germany, the value of bets placed was estimated to be between 50 and 100 billion yuan, a sum that makes China the leader in a global turnover of around 70 billion US dollars.

According to a study by the University of Beijing, each year, more than 600 billion yuan (around 75.5 billion US dollars) leave China thanks to betting losses. Gambling has been illegal since 1949, except for that allowed in Hong Kong and Macao. But there are at least 330 Chinese websites for betting, especially on the results of football leagues in Italy, England and other nations. Overseas football games are transmitted live on television and newspapers follow the leagues. Betting money is channeled through financial businesses in Hong Kong and Macao. 

Zhu Entao, an official of the Public Security Ministry, underlined the "collusion between Chinese and foreign criminal organizations" to run the market. "Nearly all profits go abroad, amounting to tens of millions of yuan every time", a capital outflow "capable to threatening the national economy".

The criminals involved behave like businessmen: Ren Shen, one of Shanghai's betting leaders, was arrested on 24 July. He told police he worked as an agent for an overseas company and received a "commission" that was a cut of his "clients" losses. Clients deposit a sum in indicated accounts and receive an identification number; then they bet by cell phone, computer or SMS. To avoid being identified, websites change their names and addresses frequently, and use servers based overseas.

Players are drawn by the mirage of being able to "make a fortune in just one day," said Ren. "But these are illusions. Betting companies don't lose because they have much more able experts" who fix quotas to the company's sure advantage. People bet on everything: during the World Cup, people bet on results but also on who would score a goal and when, who would be cautioned or sent off. You could also bet while the game was going on.

The press and television often report cases of and statements from citizens who fell into debt because they sold all their belongings and those of their relatives due to gambling fever.

The most renowned illegal gambling ring is a Taiwanese one called Yu Kuo-ji that since 2002 has operated with "door to door" collaborators and women in Beijing, Shanghai and Guangzhou for bets on football leagues in Europe, Latin America and Asia. The press estimates that the organization has made more than 2.36 billion Hong Kong dollars (around 300 million US dollars) and calls it "Taiwan's most successful entreprenuer".


e-mail this to a friend printable version

See also
07/04/2006 China
China outstrips Great Britain to become world's fourth-largest economy
01/16/2006 CHINA
Economy slows down in some Chinese provinces
01/05/2006 CHINA
Beijing publishes online corruption "blacklist"
12/22/2005 CHINA
A bigger Chinese GDP, a no-brainer
by Maurizio dOrlando
12/13/2005 China
Richer China: GDP understated by US$ 300b

Editor's choices
VATICAN - CHINA
"Porta Fidei": the Pope's Apostolic Letter for the Year of Faith now in ChineseA tool to renew the "joy" and " enthusiasm of our encounter with Christ", written shortly before the World Day of Prayer for the Church in China (May 24). The Day and "Porta Fidei" emphasize the importance of understanding the faith and to witness it in public, in unity with the pope.
VATICAN
Pope calls on Chinese Catholics to be faithful to Church and consistent in their faithAt the Regina Caeli, Benedict XVI says that with the ascension, Jesus "has separated from us." A remembrance for victims of attack on Brindisi school and the earthquake in Emilia. An encouragement for the pro-life movement.
CHINA
Chen Guangcheng and Beijing's failure to reform
by Willy Wo-Lap LamIndividuals activists are not China's real challenge, social stability and keeping the Communist Party in power are. Chinese leaders run the risk however of losing control of the huge, expensive and ever-expanding security apparatus they are building. As illustrated by the Bo Xilai case, this could lead to unexpected and disastrous consequences. Here is the analysis of one of the foremost experts of modern China.

Dossier
by Gheddo P. Fazzini G.
pp. 336
by Buono Giuseppe, Pelosi Patrizia
pp. 432
by Giulio Aleni / (a cura di) Gianni Criveller
pp. 176
by Lazzarotto Angelo S.
pp. 528
by Bernardo Cervellera
pp. 240
Copyright © 2003 AsiaNews C.F. 00889190153 All rights reserved. Content on this site is made available for personal, non-commercial use only. You may not reproduce, republish, sell or otherwise distribute the content or any modified or altered versions of it without the express written permission of the editor. Photos on AsiaNews.it are largely taken from the internet and thus considered to be in the public domain. Anyone contrary to their publication need only contact the editorial office which will immediately proceed to remove the photos.