Forty-five people were arrested after Taiwanese authorities busted a gambling ring that netted more than $40 million in bets on the results of the upcoming elections in Taiwan.

At least 31 locations around the country were raided over the weekend, resulting in the arrests and NT$20.68 million cash seized, Focus Taiwan News Channel reported.

According to the report, the ring accepted NT$1.4 billion (US$42.36 million) in bets making it the largest and well-organized operation that authorities has shut down prior to the presidential and legislative elections on Jan. 16.

Betting records showed at least NT$1.4 billion were wagered on the upcoming elections.