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Live Gambling Bust In Korea

The South Korean media is reporting another successful Korean police action against local representatives of foreign Internet gambling companies. Following the latest raid, the Seoul Central Prosecutors’ Office confirmed that over the weekend it had indicted without bail four suspects on illegal gambling charges. The suspects allegedly allowed Korean Internet users to bet casino games webcast in real time over the Internet from a Philippines casino.
 
Several fugitive Korean accuseds are being pursued.
 
Prosecutors revealed that over 100 billion won in revenues for the illegal operation had been uncovered.
 
The alleged ringleader in the scheme is alleged to have opened a land casino In Manila in February 2007, hiring up to 30 Filipino dealers and installing webcasting equipment with which to broadcast live gambling on casino games including baccarat over the Internet, targeted on the Korean market through nine online gambling websites.
 
The ring changed Korean online gamblers’ money into cyber chips and then let them make bets while watching the webcast. Winners reportedly had to pay 'commissions' to cash out the chips based on how much they bet and on which side, banker or player that they bet. It is claimed that one gambler was allowed to bet up to 120 million won.
 
Some of the online gamblers wired more than 100 million won for cyber chips. The ring reportedly generated revenues of over 100 billion won until it was stopped by police raids, with the alleged ringleader taking half of the earnings and the owners of the nine Korean gambling websites receiving a total of 15 percent. The remaining 35 percent went to “business partners” who recruited gamblers using Internet marketing techniques.
 
Prosecutors estimate that around 500 billion won was probably wagered by Korean punters on the nine sites. Police reported that in order to lend credibility to their claim that the live gambling was taking place in real time, the gambling ring presented CNN news television broadcasts on the same screen.
 
Spokesmen for the Seoul Central Prosecutors’ Office said that the members of the gambling ring lived high on the proceeds of the venture, and that accumulated assets to the value of 12.3 billion won had so far been confiscated, including 4.35 billion won in real estate, 3.45 billion in bank accounts and 850 million won worth of luxury cars including a Mercedes Benz and Porsche. Police seized an additional 1.57 billion won in cash from the ring’s Korean premises.
 
Two ring members are known to have fled abroad, and will be pursued with extradition proceedings said the spokesmen. In the meantime they have been indicted in absentia and moves are under way to confiscate their illegal earnings.
 
One of the indicted Koreans was additionally charged with operating an illegal online gambling site after he set up servers in Japan and Thailand and collected commissions from online gamblers. It is alleged that he earned 80 billion won until he was arrested and his site shut down. Three alleged accomplices are currently being sought and are believed to have escaped to Malaysia.
 
Prosecutors are also examining whether there have been any links to known organised crime families by the Internet gambling accuseds.

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Gambling News :

Pokerstars Bahamas Main and High Roller Results - The inaugural PokerStars Championship Bahamas saw two big winners crowned this weekend when Christian Harder won the main event for $429,664 and Luc Greenwood took home $779,268 after taking down the $25,750 High Roller event.

Rodrigo Duterte has identified illegal gambling as his third priority - Illegal online gambling operators can anticipate tougher times in the Philippines following a directive from President Rodrigo Duterte that stamping out illegal gambling is his third most important goal after illegal drugs and government corruption.

High Hopes For Pennsylvania Online Gambling - Pennsylvania state politicians have wasted no time in getting back to work in the new legislative season, and there is renewed hope for a gambling expansion bill that includes online gambling and daily fantasy sports.

WILLIAM HILL ACCUSED OF QUESTIONABLE MARKETING TACTICS - British Labour member of parliament for Swansea East, Carolyn Harris, has described as "appalling" player-poaching techniques allegedly encouraged by the online and land bookmaker William Hill plc.

GoWild has announced the launch of its own new gaming platform - The European online gambling group GoWild has announced the launch of its own new gaming platform, providing entertainment in addition to its Microgaming games, which will now be delivered via the Quickfire platform.

UK Government Introduces Mandatory horseracing levy - The levy kicks in after the first GBP 500,000 in gross revenue has been earned by online and retail bookmaking firms and other betting organizations.

Chinese Arrested in Philippines Invalid - Representing the thirty-nine plaintiffs, defense lawyer Irene Bianca B. Distura claimed that the warrant that led to her clients’ apprehension is “invalid.”

NJ Warns No Federal Online Gambling Ban - New Jersey Senator and gubernatorial candidate Raymond Lesniak warned that any attempt to overturn a 2011 Department of Justice opinion that the federal Wire Act exclusively governs sports betting would be met with a hard-nosed reaction from his state.

Casino du Liban To Launch new online gambling platform - The venture will be in partnership with an unnamed international company, and a tender has already been launched with a deadline of January 19 to submit the proposals.

Winstar slot Pays Big Jackpot - One very fortunate online punter in Bermuda has scored a major win on the Winstar slot at the PokerStars online casino, collecting a $825,037 jackpot.

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