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Vietnam Busts $26M Online Gambling Ring

Online Gambling Ring Because Vietnamese can’t gamble through legal channels, many look for other ways to do so. Vietnam’s criminal code dictates that people who participate in illegal gambling or work to organize illegal gambling rings risk jail sentences of 10 years. The police arrested four people in Ho Chi Minh City and asked several other people to come in for questioning. Their investigation indicated that the gaming was taking place online, and was pulling in gamblers and money to bet on sporting events , such as the World Cup. Vietnamese gamblers, like gamblers across Asia, are looking to get into the World Cup through gambling, and gambling in Asia, in general, has a very long history. Although there is a law against gaming in Vietnam, many Vietnamese citizens flout the law and visit illegal gambling dens to play card games, visit illegal sportsbooks to place bets, or find a sportsbook online to place bets. Vietnamese police have estimated that this particular betting ring, which was using a Philippines’ based gaming company, has netted $26 million from Vietnamese players since 2017. At the time of the arrests, police seized a total of $13,000 in cash, as well as phones and computers. The online gambling website, 12bet, has been in operation since 2007, and police estimate thousands of players have visit-ed the website since 2017. The site exchanges online currency for virtual currency, and then pays out winnings using online currency by placing the currency back in the winners’ accounts.

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