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Friday, November 28, 2008

Beijing takes first step to end betting ban

When the horses thunder down the turf of the Orient Lucky City racecourse in Wuhan today, there will be more than glory at stake. For the first time on the mainland since the communists took power 60 years ago, ordinary racegoers will be able to make money on races and take home winnings, the Chinese media have reported. Although there will be no actual betting on races, the move is seen as a significant step towards it - and enabling the government to rake in taxes on some of the huge sums spent on illicit gambling in China. Both betting and racing were outlawed in 1949, and only riders and owners have been allowed to make money from the sport since it re-emerged in the 90s. But the authorities are reconsidering their ban on the "social evil". By one estimate, some £400bn is spent on illegal betting in China each year.

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