Vietnam’s authorities busted Friday an internet gambling ring that had allegedly netted around $26 million in wagers from Vietnamese clients, local information outlets report citing police.
The reports come as the World Cup is in full swing and authorities in the Asia-Pacific area are enhancing their efforts to curtail illegal sports gambling, especially in countries like Vietnam, Thailand, and Malaysia in which football has a gigantic following.
Four individuals were arrested in Ho Chi Minh City on Friday after authorities ran organized raids. The arrested people could be sentenced to up to a decade in prison.
Aside from arresting four alleged organizers of illegal gambling in the country, authorities also seized Friday over VND300 million (approx. $13,000) in cash and equipment, including multiple mobile phones and computers.
Neighborhood news outlets reported that the arrested people were involved in the operation of the 12bet online gambling portal. The website was discovered to have been possessed by a foreign firm and also to have been hosted at the Philippines. It was considered that thousands of Vietnamese individuals have wagered on it because the early 2017.
In order to place their bets, bettors had to open an account with all the illegal gambling operation and move cash from their bank account. The cash was subsequently converted into a digital money that clients can spend on the website. Aside from sports gambling, the website also offered online casino games and internet lottery products.
With hardly any exceptions, gambling is illegal in Vietnam. There are numerous land-based casinos around the country but residents are not admitted to these. A state-run lottery gives a limited variety of solutions to Vietnamese gamblers, and following the recent introduction of alterations into the nation ’s gambling legislation, clients are now able to put bets lawfully on a few international matches. They’re allowed to wager no more than $44 each match.
On the other hand, black market gambling operations are thriving in Vietnam as well as the rest of the Asia-Pacific area. According to recent data, Asia is home to the world’s biggest illegal gambling market. Illegal operations on the continent are believed to be representing around 80% of the global black gambling market, which is estimated to be worth $500 billion in terms of wagers placed.
Vietnam’s latest illegal gambling ring has been busted just 3 months after another huge operation was detected by local police. Police raids back then also resulted into the seizure of almost VND1 trillion (approx. The illegal gambling team was found to have operated two sites since 2015.
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