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UK bookmakers and most Australian bookmakers face heavy regulations so, even if they do go under, your funds will generally be safe. These bookmakers do have their downside in that odds are not always great and if you are successful you may have your account closed or your max. bet limited but you can breathe easy knowing that your funds are at least safe. My recommendation would be to learn how betfair works - they will never limit you and odds can be very good!
For business men and rich people, taking money out of China is not an easy thing to do. Therefore, in this case, the junkets play an important role, that is to provide money to the gambler and then recover the money back in the home country. Though this was an illegal activity before Macau return to China, after 2002 a series of laws came into effect and regulated this activity.