Mr. Yu flipped open a page of an overseas real-time gambling website. Fung Zai had borrowed money from this company before, which is used for moisture analyzers. ■ Shenzhen Special Zone Daily reporter Liu Qida, text and pictures. The first generation of hardworking people in Lougang Community, Songgang Street, Bao'an District, have not yet fully enjoyed the joy of abundance when they witnessed the young generation's gambling-induced family ruin, casting a shadow over their hearts. In recent days, after investigation and statistics, it was found that among the 74 "post-80s" young people in the community, many lost over one million yuan, while others lost between two to four million yuan.
To repay huge gambling debts, these young people had to secretly sell their shares in the community or liquidate their ancestral properties. On the streets of Songgang, many so-called financial companies, guarantee companies, and pawnshops, which are actually usurers, target the "rich second generation" as business objects to obtain gray benefits.
Traps: Daily maximum gambling credit limit up to 500,000 yuan
Wai Zai, around 20 years old from Lougang Community, lost over 1.5 million yuan in the past two years and sold his Toyota CRV to repay gambling debts. He told reporters that he fell into gambling due to the credit limit provided by an "agent."
The "agent" opened an account for him on a gambling network and provided a credit limit of 500,000 yuan. With this account, Wai Zai could play various online gambling games such as betting on football matches, "pushing three public," "fighting landlord," and "horse racing." Since it wasn't cash transactions, he often placed bets of tens of thousands without realizing it until dawn when he discovered that the 500,000 yuan credit limit was all used up.
Reporters learned that the 500,000 yuan credit limit must be repaid with real money. If paid off, the same credit limit would be available for further gambling on the same day. If unable to repay, the "agent" would immediately deactivate the account and send someone to collect the debt.
Wai Zai said that the so-called "agents" were actually representatives of gambling companies who could develop subordinates and authorize them with credit limits. Subordinates could continue to develop networks, earning about 1% commission for each layer developed. This attracted personnel at every level, similar to pyramid schemes.
Painful: Gamblers sell houses and shares to repay debts
Fung Zai, 25 years old, indulged in gambling on football matches, "three public," and "dice." Fung Zai said that during gambling, no cash was seen, and often just pressing a button could make several thousand disappear, losing tens of thousands in one night was common. Initially, the family could still afford it, but gradually became overwhelmed. His mother repeatedly taught him with tears, but he didn't listen, eventually losing over two million yuan. Debt collectors came knocking, forcing him to sell his BMW car to repay debts.
In September last year, Fung Zai had no choice but to transfer his equity in the community shareholding company for 170,000 yuan to repay debts. A relevant person in charge of Lougang Community calculated for the reporter: in recent years, each share could yield around 10,000 yuan annually, plus holiday bonuses based on shares, making annual returns stable over 10%. After selling his equity, Fung Zai could no longer enjoy these benefits. There were three others like Fung Zai who also sold their equity.
At the age of 28, Ah Cai lost a lot of money gambling on horse races and football matches. To repay debts, he first sold a four-story private residence in Yangmeikeng for 1.25 million yuan, then continued gambling with the proceeds, quickly losing everything.
Startling: Casinos rake in over one million yuan in "commission" in a single night
Zhi Zai from Lougang Community informed reporters that many young people in the community fell victim to a game called "gambling dice," where the pace of the game was very fast. He lost 400,000 yuan in just three rounds of playing "gambling dice." The house took commissions of 50 to 100 yuan per round, throwing the money into a nearby bucket. He once saw nearly one million yuan thrown into the bucket in a single night.
Zhi Zai said that those organizing such games were usually locals who lured community members through acquaintances. Everyone got a share of the profits. These organizations often moved locations and did not stay in one place for long. Due to repeated crackdowns by Bao'an police, such "gambling dice" games were hard to find on the streets, but debt collectors were still chasing debts.
Reflection: Usury companies operate under legal guise to gain gray benefits
Fung Zai said that another reason why young people in the community fell into gambling traps was because some so-called financial companies, guarantee companies, and pawnshops on the streets of Songgang were actually usury companies. He had borrowed money from four such institutions, totaling over 800,000 yuan.
Reporters learned that if the borrower was a local Shenzhen resident with property and credit guarantees, only copies of the borrower's and guarantor's ID cards were needed, followed by signing a loan contract. Loan amounts for "post-80s" in the community ranged from tens of thousands to hundreds of thousands. Monthly interest rates were high, ranging from 5% to 10%, meaning borrowing 100,000 yuan required paying 5,000 to 10,000 yuan in interest monthly, with company staff collecting interest on time at the end of each month.
Fung Zai said that these companies investigated the borrower's financial background before lending, looking for wealthy relatives. If the credit was sufficient, a phone call from the borrower at the casino could result in the company sending money immediately, with the sender deducting the current month's interest on the spot.
● Reporter's undercover investigation
Usury lenders
No evidence left behind
Under Fung Zai's guidance, this reporter investigated several guarantee companies and pawnshops where he had previously borrowed money. These companies prominently displayed large banners on the street, with luxurious interiors and dedicated receptionists. Checking the business registration of these companies revealed discrepancies between registered content and actual operations.
Fung Zai said that to avoid leaving traces, these companies only let borrowers sign unilateral contracts without keeping copies, and no usury information was visible on the documents. If the borrower repaid the money, both parties would burn the contract on the spot, leaving no evidence. All transactions were in cash, leaving no bank transfer records, making it difficult for regulatory authorities to verify.
If the borrower failed to repay on time, these companies would immediately inform other financial and guarantee companies in the area, preventing the borrower from obtaining loans from any company in Songgang. They would also resort to hired thugs to help collect debts or even cause disturbances at the borrower's home. Last year and this year, there were cases in Lougang Community where red paint was thrown due to such incidents.
● Expert Warning
Pay attention to the "herd effect"
Dr. Meng FanYou, a statistical analysis expert from the Shenzhen Human Resources and Social Security Bureau, pointed out that although the sample analyzed in this case study was concentrated on the 74 "post-80s" young people in Lougang Community, conclusions drawn from proportional analysis were concerning.
"According to statistical principles, when a certain proportion reaches 10% in a population, it should raise sufficient concern. Currently, more than half of the individuals are involved in gambling, with nearly 20 people being long-term gamblers. Such concentrated gambling among young people in a small Shenzhen community is not a simple matter."
Dr. Meng FanYou said that the phenomenon of urban village youth concentrating on gambling requires attention to the "herd effect." Young people are highly impressionable and susceptible to peer pressure. If a significant proportion of the village participates in gambling, it sets a strong example, leading others to follow suit. This could harm the healthy growth of Shenzhen's native residents' descendants.
Relevant persons in charge of Lougang Community expressed deep sorrow over the young people's involvement in gambling, wishing they wouldn't fall but feeling powerless. They hoped that media exposure would shame them, reviving moral awareness and legal consciousness.