Vietnam cracks down on underground gambling ring worth US$1 billion
- By: Nathan Marotta
- April 30, 2019
- LikeUnlikeLike
- 2005 Views
THIS is why it’s important to regulate legalised sports betting.
Police in Vietnam have flushed out an illegal online gambling ring that took in more than USD$1 billion in wagers over the weekend, arresting more than 20 people in the biggest betting bust in the country’s history.
Vietnam, where almost all forms of gambling are illegal, has a thriving black market for people still looking to make bets on casino games, racing and sport.
The particular betting ring exposed this week used a cloaked website where it asked its customers to deposit cash and bet with ‘fake money’ in encrypted accounts.
The majority of bets were reportedly made on football, basketball and US sports.
Vietnam law enforcement is yet to divulge more details into the sting, but it has been widely reported thus far that up to 12 of the 20 people arrested at this stage were organisers.
The irony of this sting is the timing.
After years with a hard-lined approach to gambling, Vietnam has actually been running trials which have allowed some citizens to bet on sports legally, while also allowing the opening of bricks and mortar casinos.
The case made constantly in favour of legalising and regulating sports betting and other forms of gambling is that whether it’s legal or not, people seek to gamble.
As this case and others like it prove around the world, making betting illegal is typically no real obstruction to punters, who will take their money to illegal bookmakers that offer no safety or regulation, filling the pockets of black market operatives, rather than through a legal, regulated taxable source.
While we would expect stings like this to convince the Government of the benefits of legalisation, we suspect the country may go in the opposite direction, using the arrests and busts to justify its hard-line on the subject.
We’ll watch this space.
Latest gambling legislation betting news from around the world
[rm_recent_news tags=”gambling legislation” title=”” ajax=”true”]
You may also like
Join the Betting Planet team!
Are you passionate about sports betting? Sports news writers required TODAY!
Experienced preferred but not essential. (All apps considered).
View Careers at Race MediaTop Online Casinos
Latest Betting News
- Moreno v Albazi betting preview & top picks | UFC Edmonton
- Alcaraz clear favourite at Paris Masters after Sinner withdraws
- Pacific Cup 2024: NZ favoured to beat Tonga after teams named
- Tennis: Thompson downs Ruud again at Paris Masters
- Texans @ Jets NFL Thursday betting picks & predictions | Week 9
- Alcaraz admits money was behind Six Kings Slam participation
- Tommy Paul out of ATP Finals contention after Paris Masters loss
- England’s RFL confirms talks with Australia over 2025 Ashes
- Man United sack ten Hag, van Nistelrooy appointed interim boss
- Serie A Matchday 10 betting preview, free picks & top odds
Casino Guides
- Safest online casino jurisdictions
- How to guides
- How to win at pokies
- How to play online pokies
- PaysafeCard online casino deposits
- MasterCard Online Casinos
- Online Casinos Accepting POLi
- 32Red Casino Review
- All Slots Casino Review
- Boombet Casino review
- Horse racing games at casinos
- Credit card deposits at online casinos
- Films about blackjack
- Live dealer casinos
- How to play live dealer blackjack party
- Online Blackjack
- Top online casinos 2024
- Online casino deposits
- MasterCard Online Casinos
- Online Casinos Accepting POLi
- PaysafeCard online casino deposits
- Online slots
- Playing Pai Gow Poker on the Internet
- Online keno
- Online poker
- Online poker tournament structures
- Real money online roulette 2024
- Online multi-wheel roulette – what is it?
- How to play online scratch cards in 2024
- Sit & Go online poker tournaments
- Skrill e-wallet deposits at online casinos
- Visa online casino deposits
Sports Betting Guides
Casino Games
Deposits & Withdrawals
Football
Basketball
Top Country Betting sites
- Angola
- Antigua and Barbuda
- Armenia
- Australia
- Azerbaijan
- Bahamas
- Barbados
- Belize
- Brazil
- Canada
- Dominican Republic
- Germany
- Ghana
- Grenada
- India
- Indonesia
- Italy
- Kenya
- Malaysia
- Malta
- Ireland
- Netherlands
- New Zealand
- Nigeria
- Norway
- Philippines
- Singapore
- South Africa
- Turkey
- Uganda
- Ukraine
- United Kingdom
- Vietnam
- Zambia
- Zimbabwe