A reporter has uncovered an underground gambling den operating in Beijing, offering high-stake poker, The Beijing News reports.
The illegal gambling was carried out in an expensive apartment in the capital’s west, with gamblers wagering hundreds of thousands of yuan, or real estate contracts as collateral in games of poker.
The undercover reporter was tipped off after one of the club’s’ regulars lost millions of yuan over two months.
According to the reporter, the casino requires a 5,000 yuan (US$760) minimum stake per player to play.
The poker den is also working with loan sharks to step in when gamblers are most desperate, offering money in exchange for property contracts, said the report.
So far, police investigations have proved difficult “because of the high precautions the gambling den takes to avoid detection.”