Seoul Metropolitan Police authorities have busted an illicit gambling operation centered around horse racing, which had accrued around 170 billion won ($120.8m) in bets staked.
The illegal gambling ring was based in Vietnam, having previously switched from a site in Ilsan, Gyeonggi Province.Â
The Seoul Metropolitan Police Agency’s Criminal Task Force confirmed the detention of 11 people over the operation, which streamed races using footage from the Korea Racing Authority and content from Japanese meetings.Â
As part of the enterprise, the protagonists had enlisted a YouTuber with more than 20,000 subscribers to promote the operation, as well as enticing users through text messages and other means.Â
Seoul Metropolitan Police detailed that the suspects had violated the Korea Racing Authority Act, which stipulates that all races must be conducted by the organization and no private gambling using official races is permitted.Â
However, the office in Ho Chi Minh City was a thriving cross-border operation, raking in more than 170 billion won in wagers, using Korean race footage from November 2022 to November 2024.Â
It is believed that the content was obtained from a Chinese source and used from Friday to Sunday online. On the other four days of the week, users were provided content from Japanese race meetings to bet on.
Seoul Metropolitan Police sent two of the arrested individuals directly to prosecutors, with 18 further members of a wider gambling-ring syndicate referred to law enforcement.
Earlier this month, South Korean authorities released a statement marking the repatriation of suspected ringleaders from the Phillippines in a separate, 5.3 trillion KRW ($3.8 billion) illegal casino case.
Across this most recent high-level operation, the actors are said to have handled gambling funds reaching 170 billion won, as well as deposits and withdrawals across eight different online betting platforms.
So far, the police authorities in South Korea have seized 540 million won related to the operation and requested a further 520 million in confiscations.Â
A spokesperson for the Seoul Metropolitan Police emphasized that only official KRA platforms are legal for online betting and advised the public to avoid unauthorized websites.
Investigations into related networks continue, with efforts focused on preventing further leaks of official racing footage and disrupting organized crime groups exploiting regulated betting markets.
Image credit: YuKato/Unsplash
The post Seoul police dismantle Vietnam-based illicit horse-racing gambling operation appeared first on ReadWrite.
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This articles is written by : Nermeen Nabil Khear Abdelmalak
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