$130.4 Million Online Football Betting Ring Busted In Vietnam

$130.4 Million Online Football Betting Ring Busted In Vietnam

A massive illegal online football ring has been busted in the Ha Tinh province in Vietnam. The authorities estimate the online betting ring has transactions totaling 130.4 million.

The police have also confirmed at least 45 arrests in the raid on the online football betting ring. The reports of a massive online betting ring were with the police since last year. Following the complaints, the police began investigating the online betting ring in October 2018 while working with the Ministry of Public Security.

While investigations are still underway, the Police have identified a 42-year-old man, Pham Hai, to be the leader and mastermind behind the illegal betting operations.

The illegal betting rings were being operated through illegal betting websites with domains b88ag.com, bong88.com and cuocbanh88.com.

Online gambling is illegal in Vietnam. However, illegal gambling is rampant and several multi-million dollar illegal gambling rings have been busted by the Vietnam police this year.

In July, the police in Vietnam detained over 380 Chinese nationals for their involvement in operating the country’s largest underground online gambling ring.

According to the reports, the online gambling ring allowed gamblers from China to gamble on online casinos and sports betting platforms as well as lotteries. The underground gambling ring is reported to make transactions worth 3 billion yuan ($436.14 million).

Casino gambling is allowed for foreigners only in Vietnam. As such, with the Southeast Asian casino gambling market expanding consistently, Vietnam’s Ministry of Finance (MoF) is planning to relax investment requirements for offshore casino developers and investors to attract more gambling operators and developers to the country’s Special Economic Zones (SEZ).

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