leea-1334
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June 01, 2020, 12:44:06 PM |
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If that is in US dollars,,, it is a hell of a lot of money. But Vietnam also accepts USD easily and have a lot of American tourists, right? So maybe this is all about an underground tourist industry where tourists place big bets with big odds. License means they have to pay tax and if you have 3 billion, even 1 percent is 30 million savings. Makes sense.
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Sadlife
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June 01, 2020, 01:02:32 PM |
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But they didn't think of a strategy that if they dont become a license gambling casino they would be eventually pay the price. They must have thought that if they were to become legal they would have to pay 10-20% of taxes especially when some foreigners are gambling with Billions, it makes to not become legal.
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serjent05
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June 01, 2020, 01:41:34 PM |
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The GDP of Vietnam is 255 billion USD is 2019. It's very surprising that an unregistered casino handles bet volume worth 1.18% of the country's GDP. I can't imagine how much money is held by the registered casinos there? Is gambling a social issue in Vietnam?
It's very very surprising. It's very much possible that the Vietnamese authorities are faking the numbers to the international media. However, what's wrong is wrong. But the normal gamblers will have their money seized for an infinite time!
I think it is not surprising. Illegal activities are everywhere, it is that the culprit just chose Vietnam as their base. But they didn't think of a strategy that if they dont become a license gambling casino they would be eventually pay the price. They must have thought that if they were to become legal they would have to pay 10-20% of taxes especially when some foreigners are gambling with Billions, it makes to not become legal.
They thought of that but I think they just don't want to part with x% of the profit through taxes and experience headaches because of regulations. Besides they can cater to illegal activities such as rigged platform since no one will check if their programs/gambling machines is cheating.
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imstillthebest
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June 01, 2020, 01:54:42 PM |
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If that is in US dollars,,, it is a hell of a lot of money. But Vietnam also accepts USD easily and have a lot of American tourists, right? So maybe this is all about an underground tourist industry where tourists place big bets with big odds. License means they have to pay tax and if you have 3 billion, even 1 percent is 30 million savings. Makes sense.
3 billion usd worth vietnam money is only hundred thousand something , that was small for a casino / gambling but vietnam was not really a rich country i guess ? so maybe that amount was already huge on them . owning a license does also means that you gotta pay tax ? i think owning a license means that your casino was verified to be legit but tax where a different story anymore . the casino was also online and what if they are using a crypto ?
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batang_bitcoin
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June 01, 2020, 02:06:34 PM |
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3 billion usd worth vietnam money is only hundred thousand something , that was small for a casino / gambling but vietnam was not really a rich country i guess ? so maybe that amount was already huge on them .
"ONLY" hundred thousand? it's not only but look at the conversion. ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FHSWlhka.png&t=665&c=uAMqhTsfArQ3aQ) That's a lot of money whether you're a Vietnamese or living somewhere on Earth. It's billions of dollars that has been in the figures and it's not a small for a casino, it's already a huge capital that they can start continually with their operations. And it doesn't matter if Vietnam is rich or not if it's just the figures. owning a license does also means that you gotta pay tax ? i think owning a license means that your casino was verified to be legit but tax where a different story anymore . the casino was also online and what if they are using a crypto ?
You register, get a permit, becomes legit, pay tax. Whether they are accepting crypto or not, it's the license issue why they have been busted.
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swogerino
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June 01, 2020, 02:12:49 PM |
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I think it is great that the Vietnamese government to have busted the outlaws running such business.It is good as indicated several times here by many threads that before you join a casino you do your own search first and come here to see what other people are saying about that specific casino you want to join.This will save you from putting your money in scammy businesses.
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MCobian
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June 01, 2020, 03:39:42 PM |
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Vietnam is not the only country that has an illegal casino, because I am sure there are several other countries that have cases concerning illegal casino. So cases like this have often happened in various countries, which makes me surprised not related to illegal or legal. But a casino batch worth $ 3 billion, this is a huge amount for an illegal casino. Actually gamblers don't care with the legality of the casino used, the most important is comfortable and reliable.
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bittraffic
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June 01, 2020, 03:44:42 PM |
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Vietnam is not the only country that has an illegal casino, because I am sure there are several other countries that have cases concerning illegal casino. So cases like this have often happened in various countries, which makes me surprised not related to illegal or legal. But a casino batch worth $ 3 billion, this is a huge amount for an illegal casino. Actually gamblers don't care with the legality of the casino used, the most important is comfortable and reliable.
Asia has plenty of illegal casinos. If there are corrupt officials and police officers who will accept money from the casino owners, its obviously going to be fed by these rich casino businessmen. It would be okay for them to pay taxes when they become that big already like billions of dollars every day, they can buy just about anything with that amount and license wouldn't be an issue anymore.
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travwill
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June 01, 2020, 10:48:27 PM |
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I wonder how they managed to open this online casino. After all, it would be foolish to place the servers of your illegal casino in a place where the local police can find them. No less interesting is what will actually happen with the confiscated funds. ![Tongue](https://bitcointalk.org/Smileys/default/tongue.gif)
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Harlot
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June 01, 2020, 11:29:00 PM |
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I wonder how they managed to open this online casino. After all, it would be foolish to place the servers of your illegal casino in a place where the local police can find them. No less interesting is what will actually happen with the confiscated funds. ![Tongue](https://bitcointalk.org/Smileys/default/tongue.gif) This isn't a movie where the authorities are always under the radar and monitor every activity you do, maybe in the US that is but it will be different in a lot of countries. I know these people doesn't just hand of links of their gambling site easily to several people they also screen them before giving them links for their secured websites, its their one way of making things quiet even though their operations are online.
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Rengga Jati
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June 01, 2020, 11:44:32 PM |
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How could the government just be aware of the existence of illegal casinos with bets of that big amount of the volume? of course the casino should be famous and many people know about it. Unless the casino is indeed hidden and only known by a limited circle. However, are you sure if there is not a single member of the government that does not know about this? Or is there a certain conspiracy until it is revealed?
And it is unfortunate why such a large casino is not legal. Maybe this is related to taxes that must be paid or indeed privacy. I don't know, what is clear in my country is that the casino has not been legalized yet.
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crwth
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June 01, 2020, 11:58:01 PM |
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That's an apparent mistake by the owner, just like what everybody else is saying in this topic. The moment he didn't legalize the casino, is the time where the owner lost already. He might have thought of the amount he can suffer due to the gambling operation taxes, but the owner never thought of the future and what he could do in the long run when he is already legal. It's a homegrown operation, but it did give a name for itself.
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iv4n
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June 02, 2020, 04:33:54 AM |
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That's an apparent mistake by the owner, just like what everybody else is saying in this topic. The moment he didn't legalize the casino, is the time where the owner lost already. He might have thought of the amount he can suffer due to the gambling operation taxes, but the owner never thought of the future and what he could do in the long run when he is already legal. It's a homegrown operation, but it did give a name for itself.
With $3 billions bets worth he made nice money! Now he will be arrested and sentenced few months in jail or house arrest, he will pay some official fines, he will bribe judge and police, and in 2-3 months he will open a new casino! It's how it goes! I don't know about the laws in Vietnam, but they have some restrictions probably. Illegal casino can offer games you can't find in legal casino, you can have higher bets (without limits), which can be good for some gamblers who just get in and get out, without need to register or report their winnings and pay taxes for that! People will always find a way to bend some rules! In the end rules exist to be broken ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
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Saisher
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June 02, 2020, 05:18:55 AM |
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This is not a small time online gambling casinos, even if online gambling casinos are illegal in their companies they managed to push through in those two years, I believe because they have powerful connections this is why they are not caught on all these two years, this is just a tip of the iceberg, we have seen how huge running an online gambling now and there are still underground online casinos which is not known here.
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shoreno
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June 02, 2020, 06:39:28 AM |
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if only they knew that their casino will grow big they will pay for the legalization of it but no they didnt know it and they only start with small budget , thats the reason why them and many other more operates secretly just to avoid many costs but as soon as they are earning good , why not pay to make thier casino legal ? or he can also pay the charges that they dealt and start being good again with the money they have now .
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kotajikikox
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June 02, 2020, 07:16:30 AM |
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This is not a small time online gambling casinos, even if online gambling casinos are illegal in their companies they managed to push through in those two years, I believe because they have powerful connections this is why they are not caught on all these two years, this is just a tip of the iceberg, we have seen how huge running an online gambling now and there are still underground online casinos which is not known here.
Or maybe the operator/owner is a Politician itself,because it is very rare that they can operate that long without being caught of authorities? if only they knew that their casino will grow big they will pay for the legalization of it but no they didnt know it and they only start with small budget , thats the reason why them and many other more operates secretly just to avoid many costs but as soon as they are earning good , why not pay to make thier casino legal ? or he can also pay the charges that they dealt and start being good again with the money they have now .
Lol even you casino earn or not,you have obligation to seek permits and other legal documents before starting to operate,this is a obvious and intentional.
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crwth
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June 02, 2020, 07:47:39 AM |
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That's an apparent mistake by the owner, just like what everybody else is saying in this topic. The moment he didn't legalize the casino, is the time where the owner lost already. He might have thought of the amount he can suffer due to the gambling operation taxes, but the owner never thought of the future and what he could do in the long run when he is already legal. It's a homegrown operation, but it did give a name for itself.
With $3 billions bets worth he made nice money! Now he will be arrested and sentenced few months in jail or house arrest, he will pay some official fines, he will bribe judge and police, and in 2-3 months he will open a new casino! It's how it goes! I don't know about the laws in Vietnam, but they have some restrictions probably. Illegal casino can offer games you can't find in legal casino, you can have higher bets (without limits), which can be good for some gamblers who just get in and get out, without need to register or report their winnings and pay taxes for that! People will always find a way to bend some rules! In the end rules exist to be broken ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) That's not should always be done though. If that always happens, then the people or the governing body, in that case, look like money. They are corrupt and no fair justice. But it seems the corruption is declining. Vietnam’s Corruption Perception Ranking Declines in 2018 (2-year-old article though) What kind of games are you talking about? Can you be more specific? https://www.vietnam-briefing.com/news/vietnams-corruption-perception-ranking-declines-2018.html/
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| | . .Duelbits. | │ | ..........UNLEASH.......... THE ULTIMATE GAMING EXPERIENCE | │ | DUELBITS FANTASY SPORTS | ████▄▄▄█████▄▄▄ ░▄████████████████▄ ▐██████████████████▄ ████████████████████ ████████████████████▌ █████████████████████ ████████████████▀▀▀ ███████████████▌ ███████████████▌ ████████████████ ████████████████ ████████████████ ████▀▀███████▀▀ | . ▬▬ VS ▬▬ | ████▄▄▄█████▄▄▄ ░▄████████████████▄ ▐██████████████████▄ ████████████████████ ████████████████████▌ █████████████████████ ███████████████████ ███████████████▌ ███████████████▌ ████████████████ ████████████████ ████████████████ ████▀▀███████▀▀ | /// PLAY FOR FREE /// WIN FOR REAL | │ | ..PLAY NOW.. | |
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South Park
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June 02, 2020, 05:40:42 PM |
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and what’s surprising is despite getting such huge volumes the casino owner never felt the need to get his casino registered and operate legally.
When you start you never know if you will succeed or not and if you succeed and have millions in volumes it is sometimes too late... I think that he didn't register casino because gambling is illegal in Vietnam: In general, gambling is illegal in Vietnam. However, some forms of betting in Vietnam are allowed. This includes lotteries, horse racing, greyhound racing, and international football. https://www.expatbets.com/vietnam/casino/If this had been an operation completely online it could have been very easy with the profits they were generating to register their casino in a jurisdiction that allowed gambling and become an official and legal casino, the problem is the article that is linked at the OP gives a very clear indication that this was not an exclusive online operation, and instead they were taking cash on Vietnam despite the fact that gambling is illegal there, so this is a very clear case of a bunch of people violating the law and getting caught by the police.
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iv4n
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June 02, 2020, 08:16:36 PM |
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What kind of games are you talking about? Can you be more specific?
For example maybe it's forbidden to bet on cockfighting, but in illegal casinos you can watch fights, or they have it on TV and people watch and bet. Same like with dog fights and races, or any other kind or racing or fighting (maybe we can include here people fight to death, or I went too far?)... games that are forbidden by law, but people still do it! It's cruel but it exists. I don't know about Vietnam specific, what is allowed there and what not. But for example I know some gambling games from the street, you can't find those games with cards, dices or some other kind of objects in any regular casinos!
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tranthidung
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June 10, 2020, 11:44:13 AM |
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I think that he didn't register casino because gambling is illegal in Vietnam:
You are correct. Online casinos are illegal in Vietnam. There are real casinos in Vietnam but the government here does not allow online casinos. There are many people got punished in jails because of their online gambling/ casino operations as well as their participation in online gambling. There are some discussions and intention to build up laws for online gambling but it has still been stucked for years. I have not seen any lights that such laws will be finished in the near future. Holy shit! With all those massive profits and the owners never even bothered to operate legal for a lot much less fees? Indeed, gamblers should open their eyes and be careful on which kind of casino they are dealing with.
As I wrote above, even if online casinos' owners want to do so, they still don't have chances to get a license legally for their online casinos in Vietnam.
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