Online Betting operators Jailed
16th February, 2009
Twenty people in China have been charged with illegally operating an online betting network whilst using other international operators. The illegal betting ring involved several members setting up accounts at foreign sites and then coordinating bets for others using these accounts.
The operation was lead by Qian Baochun, who was jailed for six years as well as being fined $735,00.
Illegal betting rings are often setup to allow high stakes internet wagers in areas where online gaming is against the law. However using illegal organizations poses several risks for punters, including market odds unpredictably changing and unreliable pay outs.
It's estimated that the three main leaders of this operation each earned around $250,000 a year. The ring was finally bust after several years of operation, which saw around a dozen additional members gathering the bets from punters whilst being paid on a commission. Most of the bets were placed on football tournaments such as the World Cup in 2005.
The strict Chinese government have implemented Laws banning all internet gaming, however many illegal rings are still operating in the China and the Far East.
By Jamie
