Earlier in the day, Tuesday, September 25th, in one of the latest major bust in a country where massive illegal betting occurs despite tough laws, Vietnamese police announced that it has broken up an online gambling ring worth almost US$26 million and have also arrested 10 individuals along with confiscating cash and guns.
According to a local Vietnamese police source and state media, several sports and other forms of gambling websites were being operated by the ringleaders who managed to attract hundreds of online punters since July.
The network, headed by a 37-year-old identified as Huynh Quoc Viet spanned several provinces in southern and central Vietnam.
Earlier in the day, the police source from the Central province of Quang Nam announced, “We made an arrest of 7 people and three others surrendered. We will continue with the investigation to see if any additional member is involved.”
The police confiscated US$20,000 in cash, two rifles, mobile phones, and several cars as they raided several houses across multiple cities according to the data published on Quang Nam provincial police’s official website.
According to the state media, The suspects could be hired to collect the debt using force and also illegally offered high-interest loans. Vietnam is a one-party state where an individual is sentenced to a maximum jail term of 10 years for running an online betting ring so naturally, most of the gambling is considered illegal there and only foreigners have legal permission to bet at local casinos.
However, notably back in the previous year, the communist government had announced that it would ease on the restrictions placed on sports betting and shall permit some Vietnamese to gamble in casinos, but it would be on a pilot basis. The new rule has however not yet come into effect.
Several huge firms that include both local and foreign, are really keen on dissevering into the potentially lucrative market of the Asian country where underground betting happens even among officials.
An enormous illegal betting ring worth US$422 million is now being investigated by Vietnamese police officials that could well be the country’s biggest-ever gambling bust as it involves nearly a 100 people, including former as well as current officials.
Apparently, The entire online betting ring was planned and operated by the same officials who were assigned with the job of policing online gambling at the Ministry of Public Security.