Lottery Funds Embezzled In China

Fraudulent officials are the reason that GBP 1.7 billion has vanished from the lottery.

Gambling news is blowing up with the discovery of GBP 1.7 billion missing in lottery funds in China. According to The Guardian, Chinese officials plundered the money via the acquirement and construction of office buildings and hotels.

The missing money is about a quarter of the total lottery funding, and discrepancies have also been noticed in 17 provinces: they sold lottery tickets without any permits whatsoever.

The lottery market in China will soon be the largest

The Guardian reports that the Chinese have gotten a taste for gambling… and they are not likely to stop anytime soon. Just look at how much they enjoy
US poker rooms and luxury casinos…

Another prediction is that in the near future, China will take over the US’s place as the biggest lottery market in the world. It is imperative, therefore, to keep corruption at bay, and President Xi Jinping’s cabinet is opting for just that.