Monthly Archives: April 2019

Vietnam busts massive online betting ring linked to Fun88

Vietnamese authorities are celebrating the dismantling of a massive illegal online sports betting ring linked to the Fun88 brand.

On Thursday, the Thanh Nien news outlet reported that Vietnam’s Ministry of Public Security had arrested 22 individuals suspected of involvement in an illegal online gambling ring that authorities are describing as one of the biggest ever rumbled in the country.

Two days earlier, police staged simultaneous raids in several cities, including Hanoi and Ho Chi Minh City, seizing “hundreds” of electronic devices and other tools of the gambling trade, along with numerous luxury vehicles and “large amounts of cash and bank accounts with large account balances.”

The Agence France Presse wire service reported that the gambling operation handled wagers totaling US$1.28b, although the time frame in which this sum was processed went unspecified. The authorities said the betting ring’s customers were asked to deposit cash into bank accounts in exchange for virtual credits that could be used for wagering purposes.

Ex-casino staff push Ecuador to reverse gambling ban

Ecuador could witness the return of its shuttered casino industry if a local advocacy group’s economic arguments can win the public relations war.

In 2012, the last of Ecuador’s licensed casinos and bingo halls shut their doors, following a 2011 referendum that empowered President Rafael Correa to eliminate the nation’s land-based gaming industry. Illegal gaming halls were ordered to immediately close in September 2011 and the last of the 32 legal venues followed six months later.

But hope dies eternal, and this week saw a push to reopen those shuttered gaming venues by a new group calling itself the Association of Former Casinos Workers of Ecuador (ETCE). Led by Mauricio Villacís, ETCE has submitted proposals to several government departments in the hope that the issue will gain some traction in the halls of power.

The government justified its gambling crackdown by dwelling on the “social problems” gambling can cause while Villacís is focusing on the economic gains gambling can produce. Local media quoted Villacís arguing that legalizing casinos, bingo halls and sports betting operations – both land-based and online – could produce over 20k new jobs, bring $400m in new investment and hundreds more millions in gambling taxes.