Asia to fight illegal gambling during World Cup
As the World Cup closes in, law enforcement forces in Asia get ready to fight illegal gambling to avoid losing millions.
China.- The FIFA World Cup kicks off on June 16th and the gambling industry all around the world is getting ready to see the sports betting segment thrive on the biggest sporting event on the globe. However, Asian authorities are also getting ready to fight the illegal segment, which may cause the regulated market to lose millions through new technologies.
Illegal bookmakers are highly popular, not only in countries where there are no legal alternatives but also in countries like South Korea or Chinese territory Hong Kong, where gambling is legal. “There is a need to develop and execute a sustainable enforcement strategy for a lasting impact against illegal betting and related transnational organised crime,” Hong Kong Jockey Club director of security and integrity Martin Purbrick said.
The Jockey Club estimates Hong Kong’s illegal betting turnover this year, including the World Cup, will be at least US$7.3 billion, compared to US$702 million in Singapore and US$8.5 billion in South Korea annually. Hong Kong earns around five per cent of its budget from taxing legal gambling and views illegal betting as lost potential revenue. The Jockey Club put the potential loss at about US$1.4 billion this year.
Four years ago, during the last World Cup, Interpol cracked down on illegal gambling operations that were estimated to have handled US$2.2 billion worth of illegal bets, mainly on illicit websites.
