China reveals misuse of $2.7 billion in lottery funds

Jun 25, 2015, 8:12 am (26 comments)

International

BEIJING — China has uncovered widespread misappropriation of 16.9 billion yuan (US$2.72 billion) of funds from its state lottery program, underscoring the extent of official corruption as the country tries to root out graft.

Funds were misappropriated through the buying and building of office buildings and hotels or embezzled, the National Audit Office said in a report on its website.

The state auditor said the irregularities accounted for a quarter of the total of lottery funds received in its 2012-2014 investigation that spanned 18 provinces.

It said 17 provinces had flouted the law in engaging in lottery sales through the Internet without approval from the Ministry of Finance.

In another case, 32 lottery shops had used 3.1 billion yuan to construct office buildings, training centers and hotels, the report said.

Spurred by rising disposable income, a strong appetite for gambling and more sophisticated games, China's lottery market has boomed with customers splurging billions of dollars. China is expected to overtake the United States as the world's biggest lottery market this year.

The government has so far contained casino gambling to Macau, in part because of social concerns. Experts say officials consider the lottery system more sanitized, with fewer negative effects on citizens.

The review comes as President Xi Jinping's government has waged a fight against corruption, warning that the problem is so bad it could affect the Communist Party's grip on power.

Lottery products are typically sold through authorized stations throughout the country in the form of physical tickets. These range from dedicated lottery stores to counters in supermarkets, post offices and gas stations.

Unlike the United States and Europe, where prizes can climb into the hundreds of millions of dollars, China caps jackpots at 10 million yuan. Tickets sell for 2 yuan to 200 yuan, with proceeds supporting sports and welfare charities.

($1 = 6.2 yuan)

Reuters

Comments

RJOh's avatarRJOh

This could be serious since China doesn't believe in second chances for crooks.

pickone4me's avatarpickone4me

Imagine that, communists are crooks.

 

Edit:  I wanted to point this out:

Spurred by rising disposable income, a strong appetite for gambling and more sophisticated games, China's lottery market has boomed with customers splurging billions of dollars. China is expected to overtake the United States as the world's biggest lottery market this year. I think they meant china was going to over take the united states economy

noise-gate

What is this you ask?.. This Sir is a Chinese Mobile Execution Vehicle. Need l say more?

 

Responding to criticism that China cruelly and arbitrarily executes a large number of its citizens each year, officials are gradually moving toward what they say is a more discreet way of killing its prisoners: execution vans.

pickone4me's avatarpickone4me

Quote: Originally posted by noise-gate on Jun 25, 2015

What is this you ask?.. This Sir is a Chinese Mobile Execution Vehicle. Need l say more?

 

Responding to criticism that China cruelly and arbitrarily executes a large number of its citizens each year, officials are gradually moving toward what they say is a more discreet way of killing its prisoners: execution vans.

I heard they had those in china.  If people think it isn't real, go here http://www.dailymail.co.uk/news/article-1165416/Chinas-hi-tech-death-van-criminals-executed-organs-sold-black-market.html

noise-gate

My reason for posting the picture of the vehicle Pick is that China executes people for corruption, bribery etc.Corrupt Political figures have been strapped to the gurney inside these units. I am convinced that these vehicles will be rolling once the culprits associated with this story are identified...

music*'s avatarmusic*

Shocked I am thankful for being American and playing the Lottery in the good old USA.  I know we have complaints about our systems and we get to air those aloud and online.  When a player tries to outsmart the lottery here they are caught and punished. Of course the bad news make the headlines while ordinary winners go on about their lives.

mikeintexas's avatarmikeintexas

Quote: Originally posted by music* on Jun 25, 2015

Shocked I am thankful for being American and playing the Lottery in the good old USA.  I know we have complaints about our systems and we get to air those aloud and online.  When a player tries to outsmart the lottery here they are caught and punished. Of course the bad news make the headlines while ordinary winners go on about their lives.

I Agree! We have our fair share of problems, but they pale in comparison to China and many other countries.

Americans have concerns about how our meat animals are raised, what with all the antibiotics and hormones, but I'd rather eat U.S. feed lot beef than I would a tilapia from China.  (you'd have to hold a gun on me to eat just about ANY fish /seafood from Asia...and I think I'd rather just have you shoot me, preferring to die a quick death than a long and slow drawn-out one)  Then there's this recent news story:

China arrests smugglers trying to sell frozen meat from the 1970s

mypiemaster's avatarmypiemaster

If you think China is strict, try the Islamic State or "our so-called friend" Saudi Arabia.

Shelby Mustang

Quote: Originally posted by mypiemaster on Jun 25, 2015

If you think China is strict, try the Islamic State or "our so-called friend" Saudi Arabia.

That pile of money in your picture is why Saudi Arabia is, always was, and forever will be our friend... the oil interest will always outweigh  in interest of individual American citizens period

Gleno's avatarGleno

What? Who knew China even had a lottery ?

Is anyone surprised that funds would be misappropriated?

Eek

mikeintexas's avatarmikeintexas

Quote: Originally posted by Shelby Mustang on Jun 25, 2015

That pile of money in your picture is why Saudi Arabia is, always was, and forever will be our friend... the oil interest will always outweigh  in interest of individual American citizens period

The U.S. supplies 40% (and that percentage has been increasing, thanks to the relatively harmless practice of hydraulic fracturing) of its own petroleum needs and we get more from either Canada and Latin America than we do the Middle East;  we get more oil from Nigeria (10%) than we do Saudi Arabia (8%).

itpmguru's avataritpmguru

Quote: Originally posted by noise-gate on Jun 25, 2015

My reason for posting the picture of the vehicle Pick is that China executes people for corruption, bribery etc.Corrupt Political figures have been strapped to the gurney inside these units. I am convinced that these vehicles will be rolling once the culprits associated with this story are identified...

Think it would be money well spent to cut down on crime and corruption here in the US.  Only problem, who would be left to run Washington? Shocked

MaximumMillions

Oh no! I bought tickets on my vacation there. I am shocked to find out my 2$ were misappropriated. LOL

 

The jackpot cap btw is why people often play the same line 100 times.

Coin Toss's avatarCoin Toss

And some here on LP a little while ago wanted a world-wide lottery.

Bang Head

Congratulations, you hit the jackpot. Our lottery headquarters is in the van that noise-gate posted. Come collect.

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