North Korea To Permit Horse Racing In An Effort To Generate Revenues
The North Korean regime is in desperate need to fill up its coffers with foreign reserves. With the increasing isolation due to the policies of North Korea leader Kim Jong Un, the government is allowing locals to bet on horses races. This was previously punishable by three years of hard labor.
Although hard to believe there are some very wealthy North Koreans who have spare cash to spend on casinos and gambling. The latest horse racing betting took place at the Mirim Horse Riding Club which is just one of Kim Jong Un’s luxury resorts he has built in the last few years.
Anyone over the age of 12 will be allowed to bet on jockeys in what is a raffle like system according to North Korea’s Official news agency KCNA.
Pictures on North Korea media show hundreds of spectators filming and watching the races from their smartphones with mainly white horses that are associated with the regime. Sanctions due to its nuclear program have meant bans on seafood, coal, textiles etc.
Gambling and casinos is not new to North Koreans as there are casinos already operating for foreigners in Rason and Pyongyang where there is a joint economic zone with China. There are even proposals in the making to increase the amount of casinos on offer.