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China considers legalized horse racing11 January 2008CHINA -- As reported by the Shanghai Daily: "The Chinese mainland could see its first official bet placed on a horse race since the founding of the People's Republic of China in 1949 as early as next year. The central government has approved the establishment of regular horse racing in Wuhan, the capital of central Hubei Province, and is considering the introduction of gambling on the races in 2009. "Races will be held at the Orient Lucky City racecourse in Wuhan in September, according to a senior manager with the Orient Lucky Horse Group Cooperation, who did not want to be named. "The announcement is being seen as the beginning of legalized gambling on horse racing on the mainland. "...However, the manager said betting on the races will probably not be introduced on a trial basis until 2009. "...Qin Zunwen, an expert in the study of betting on horse racing, said the business, once fully operational nationwide, could create three million jobs a year. He told the Times that annual betting could reach a staggering 100 billion yuan (US$13.7 billion), yielding 40 billion yuan in tax revenue..." |