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Lottery tickets online |
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Korean Operated
Philippine Online Gambling Ring Busted
 Sept
29 - This week South Korean prosecutors busted an 'illegal
online gambling ring' that was being operated in the
Philippine capital of Manila by a group of South Korean
nationals targeting Korean online gamblers, which allegedly
cleared over US$100 million in the space of 18 months.
Online gambling is illegal in the Asian country of South Korea, a country which
boasts only a single land casino that is reputedly strictly controlled and run
by the government. The Seoul Central Prosecutors' Office confirmed that its had
charged four South Koreans while two others have fled the country.
However, Seoul prosecutors are seeking to have the other two accused extradited
presumably from the Philippines. According to South Korean officials the online
gambling ring launched a 'live' online casino based in Manila last year February
and hired 30 Filipino baccarat dealers to attract 'high-rollers'.
The online gambling ring then broadcast live baccarat games via a webcast
to online gamblers
based in South Korea - many of whom wired more than US$100,000 for a single bet . To
reassure players that the
baccarat games were in fact being played live, they
included live CNN broadcasts as part of their online coverage.
The online gambling ring converted their players gambling funds into
'cyber chips' and allowed them to place bets while viewing the live baccarat
action. One player was reportedly allowed to place a bet for a
whopping 120 million chips. Players paid the ring a 'commission' in order to
cash out their winnings.
A spokesperson for the Seoul Central Prosecutors' Office confirmed that the
ringleaders lived the high life, accruing millions of dollars in real estate,
luxury cars, bank accounts and cash.
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