Nothing left to lose: Gambling in Venezuela

"Los Animalitos" ("the little animals") is currently the most popular game on the Venezuelan streets. The cheapest ticket for this roulette-inspired lottery costs just 100 bolivars (less than one cent). Bettors have to pick an animal, a number and a color. Winning tickets are chosen several times a day.

Most of the people who frequent the lottery kiosks in the back alleys of the capital, Caracas, and across the country are not those one expects to have the disposable income for gambling. Many are unemployed, some are homeless. Even though games like "Los Animalitos" produce more losers than winners, they are the last hope for those feeling hopeless amid the country's massive recession.

Eduardo Liendo was among the lucky ones with a winning "Los Animalitos" ticket. The prize money, he told news agency Reuters, "helped me a lot," even though it is bittersweet: Liendo picked the winning animal - a dog - in honor of his deceased pet. The 63-year old recently had to give up his house and has been living in an old car ever since.

Venezuela's economy depends primarily on its oil reserves. In the past three years, the price for oil has fallen by more than 50 percent, with dramatic consequences. Inflation and unemployment have exploded. There are not enough groceries and medication for the population. Even middle class families cannot afford to buy sufficient amounts of food and everyday products at black market prices.

The economic crisis has been exacerbated by political conflicts. The US has passed sanctions against Venezuela to put pressure on Nicolas Maduro. Washington has accused the Socialist president of trying to turn the country into a dictatorship. In August, the opposition-led parliament was de facto replaced by a constituent assembly run by the Socialists.

Bookmakers (along with black market dealers) might be among the few businesses growing in Venezuela at the moment. While there are no official numbers on the gambling industry, which is regulated by a mixture of privately-run companies and regional authorities, insiders told news agency Reuters that lines at lottery kiosks and the like were longer and busier than ever.

It's not just the lottery that attracts gamblers in Venezuela, many in the country also place bets on sports. At the La Rinconada Hippodrome in Caracas, there are plenty of men hoping that "their" horse will help earn them a big win.

Experts believe it's not in spite, but because of Venezuela's problems that people love to gamble. "In a crisis like the one we're going through, people drink and gamble more to escape from reality," psychologist Rosa Garcia told Reuters.

But even at the horse track, Venezuela's economic struggles manage to remain present: The hippodrome in Caracas was built next to a slum, in front of makeshift barracks constructed by the country's working poor.