North Korea Permits Gambling To Raise Money After Trump's Nuke-Related SanctionsBetting On Horses Now Allowed In Government Cash Grab |
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Thanks to beefed-up economic sanctions levied against it, North Korea has decided to allow its citizens to bet on horse races, per a report from CNBC. Previously, gambling on horse races could land you in a labor camp for up to three years.
Pyongyang has become increasingly isolated thanks to pursuing missile and nuclear programs, drawing a series of threats from U.S. President Donald Trump. Many observers believe the conflict could lead to another World War. Russia has so far been supportive of Pyongyang.
The sanctions designed to starve out the nation’s coffers have greatly reduced Kim Jong Un’s access to foreign money. Allowing people to gamble on the horses is seen as a government cash grab. Under the new rules, you have to be at least 12 years of age to bet.
The state-run KCNA news agency said that the races took place at the Mirim Horse Racing Club near Pyongyang on Saturday. Kim Jong Un is reportedly a fan of the races.
A recent Newsweek report quoted a former high-level North Korean official who predicted that the country won’t last long under the bolstered sanctions.
“The sanctions the White House has imposed are historical. Never before have such strong sanctions been placed on North Korea,” said the former high-level economic official for the North Korean government before defecting in 2014. “I don’t know if North Korea will survive a year [under] sanctions. Many people will die.”
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