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KOREAN ILLEGAL ONLINE SPORTS BETTING WORTH BIG MONEY
Friday September 23, 2011 : Billions of Dollars go to illegal gambling sites says Institute report
According to data from the state-run Korean Institute of Criminology, illegal online sports betting could be worth around 13 Trillion Won ($10 Billion) reports the Korea Times.
The data submitted for an annual parliamentary report by Ahn Kyung-yul, a representative of the ruling Grand National Party, states that 1 019 illegal sports gambling websites are making an average of 12.5 billion Won each.
According to the report the country’s current legislation allows for legal betting on selected sports such as baseball and basketball but bettors may only wager up to 100 000 Won per game through the state-run lottery, Sports Toto.
Ahn Kyung-yul believes lenient penalties have contributed to the increase in illegal gambling sites.
"Currently, those who start illegal Web sites are sentenced to up to three years in jail or receive up to 15 million won in fines," Ahn said. "There should be tougher discipline and the prison term and the fine should be imposed together. To raise awareness and discourage people from using such sites, there should also be a penalty on bettors."
3 Top Bitcoin Poker Sites -
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Kentucky Derby Odds: Justify still Favorite -
With all the races on the Road to the Kentucky Derby complete, Justify is still on top of the odds list at 4/1. But he’s got company: Mendelssohn (9/2), Audible (11/2) and Magnum Moon (8/1) are all very much in contention for the big race on May 5.
888Poker Takes Over the States -
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MPN Poker Tour Bratislava | Day 2 -
It was a hard fight around the bubble, culminating in the elimination of Georgios Drakakis in 46th place. He received a surprise consolation entry into the next MPNPT stop in Sunny Beach, Bulgaria (5-8 July), which softened the blow of missing out on a €900 min-cash.
MPN Poker Tour Bratislava Day 1B -
Dorey Captures Chip Lead After MPNPT Bratislava Day 1b Triples 1a Field Size. The second flight of the €550 MPN Poker Tour Bratislava Main Event is in the bag, and so are the chips of 97 players who will be returning along with the 26 Day 1a survivors to fight to the money and beyond today
MPN Poker Tour Bratislava Day 1A -
The MPN Poker Tour has arrived in Bratislava for the very first time, bringing with it the Tour’s friendly mix of local and globe-trotting poker enthusiasts, pros and qualifiers to the beautiful Slovakian capital.
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