ASIAN LAW ENFORCEMENT and regulatory authorities plan to battle illegal gambling in the continent during the FIFA World Cup in Russia, as gamblers have methods such as technology and cryptocurrencies to avoid getting caught, according to a Reuters report.
In countries such as Hong Kong, Thailand, Malaysia and South Korea, football is extremely popular yet the illegal betting market trumps legal vendors. With the advancement of online and mobile platforms, gambling has become hard to detect for enforcement agencies to monitor.
Hong Kong and Macau police revealed that criminal organizations have used platforms like WeChat for betting purposes, while the Interpol also sounded out the threat of cryptocurrencies such as Bitcoin.
“There is a need to develop and execute a sustainable enforcement strategy for a lasting impact against illegal betting and related transnational organised crime,” said Martin Purbrick, Hong Kong Jockey Club’s Director of Security and Integrity said to Reuters. The club run Hong Kong’s horse racing and football betting franchise.
It estimates that the revenue from Hong Kong’s illegal betting this year will be at least $68 billion, compared to $6.5 billion in Singapore and $79 billion in South Korea annually.
Illegal bookies in the country are expected to earn a whopping HK$750 million during the World Cup alone, the club believes. The amount of betting is expected to be much more than the FIFA World Cup 2014 in Russia due to a lesser time difference.
Asia contributes to 80 percent of the estimated $500 billion in illegal betting turnover globally, according to Transparency International and the Asian Racing Federation.
HK police are reportedly conducting a large anti-gambling operation called “Crowbreak” to catch illegal gambling activities.
Macau, the world’s biggest gambling centre, could see revenues decrease in June due to more Chinese gamblers betting on the World Cup than in casinos, according to gaming analysts.
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