Vietnam bursts an illegal casino who used to handle bets worth $3 billions

[Saint-loup]

Are you interested in that "Saint"-loup? See what I did there? Lol

Anyways, I only have seen kind of things in movies, not in real life. I bet it's the same where the richest group of people who pay people just to fight. Isn't fighting sports something like that? It's not like up to the death thing but it's close. Maybe there are parts of it in the deep web.

Thank you but I was talking to iv4n. And I don't think it's your alt account since you replied to him...  

Being part of the quoted post makes you part of the conversation as well. Better yet, you could specifically put "iv4n" on that question. You should've just deleted my quote on there and prevent this confusion.

No problem bro, it was just a (very funny) joke.  
BTW do you know, or someone else, urls of casinos in the deep web ?
In my country we must report to the tax authorities every single account able to receive cryptos we open.  

You don't need to go to the deepweb to be safe, just use a VPN and use more trustworthy websites. Usually the taxmen will only go for the easiest targets, by using a VPN you are already ahead of most people.

Thank you for the advice Barnabe but do you know some free VPNs suitable for that purpose or at least very cheap ones please?

[milewilda]

Pretty incredible that a casino of that size was able to operate under the radar for so long.

Even if he had a house of judge 1%, that means the guy successfully generated $30 million in profit without even raising a suspicion? The place more likely had a crazy high house edge too, given that it was already operating illegally, so something like 3% ($90m profit) is more likely (deducting operating costs).

Not really much of a difference between a licensed an unlicensed platform so long as they're using fair equipment and not rigging the games. But the government's gotta get its share of the revenue or its curtains!

Its really incredible that it did really become so big without being bust up for a long time which we can presume out that there are people whom do protect such illegal casino.
They might be hiding from taxes but they do pay up the ones who do handle out to maintain up their operation without getting too much attention from the outside or in governments vicinity.
Its not really something new because illegal things do work on that way thats why they havent been caught for too long but this one had been burst up but there are still lots of them
havent been detected or found up yet.

[Twinkledoe]

Pretty incredible that a casino of that size was able to operate under the radar for so long.

Even if he had a house of judge 1%, that means the guy successfully generated $30 million in profit without even raising a suspicion? The place more likely had a crazy high house edge too, given that it was already operating illegally, so something like 3% ($90m profit) is more likely (deducting operating costs).

Not really much of a difference between a licensed an unlicensed platform so long as they're using fair equipment and not rigging the games. But the government's gotta get its share of the revenue or its curtains!

Its really incredible that it did really become so big without being bust up for a long time which we can presume out that there are people whom do protect such illegal casino.
They might be hiding from taxes but they do pay up the ones who do handle out to maintain up their operation without getting too much attention from the outside or in governments vicinity.
Its not really something new because illegal things do work on that way thats why they havent been caught for too long but this one had been burst up but there are still lots of them
havent been detected or found up yet.

That's what you called under the table. There's no doubt they have powerful connections to survive without being busted by the authorities for so long. More than likely, they spent a lot of grease money. And maybe, some are not happy anymore with what they are getting, so somebody spilled the beans to the authorities.

[plvbob0070]

Pretty incredible that a casino of that size was able to operate under the radar for so long.

Even if he had a house of judge 1%, that means the guy successfully generated $30 million in profit without even raising a suspicion? The place more likely had a crazy high house edge too, given that it was already operating illegally, so something like 3% ($90m profit) is more likely (deducting operating costs).

Not really much of a difference between a licensed an unlicensed platform so long as they're using fair equipment and not rigging the games. But the government's gotta get its share of the revenue or its curtains!

Its really incredible that it did really become so big without being bust up for a long time which we can presume out that there are people whom do protect such illegal casino.
They might be hiding from taxes but they do pay up the ones who do handle out to maintain up their operation without getting too much attention from the outside or in governments vicinity.
Its not really something new because illegal things do work on that way thats why they havent been caught for too long but this one had been burst up but there are still lots of them
havent been detected or found up yet.

Connections from higher authorities are common in running illegal businesses in a country that's why they continue operating without getting busted. Since it's illegal in Vietnam and maybe even authorities want to gamble but since they can't, perhaps there is also a possibility that government authorities themselves are gambling there. We all know how can some of the higher officials work dirty for the sake of money.

If such huge earning casino can run in Vietnam for that long without getting caught, I bet there are also other casinos running aside from that. Also, it's not just about running away from taxes since others have already mentioned that it's illegal in Vietnam that's why they can't even get a license even if they want to.

[crwth]

No problem bro, it was just a (very funny) joke.  
BTW do you know, or someone else, urls of casinos in the deep web ?
In my country we must report to the tax authorities every single account able to receive cryptos we open.  

No worries. It's an "okay" joke. Lol

I don't know, I'm not particularly participating in deep web stuff, especially relating to gambling. Anyways, the tax in your country might be hard to track in terms of how many holdings you have, etc? Isn't it? Or it's voluntary as well when it comes to that?

[aioc]

All such large illegal businesses operate under the control of corrupt officials. Apparently this casino had big patrons. And after this scandal happened, it’s not at all a fact that the casino will be completely closed - perhaps it will only change signboards and will come under the control of another group of corrupt officials.

There are a lot of corrupt official behind this, they cannot operate a casinos that handle $3 billion worth of money and since they are making huge money they can pay corrupt officials to back them up, I also do not see this illegal gambling ends, once the operators are freed they will just change their name, but this time they will be more careful or add more officials to bribe.

[Pamadar]

Vietnam authorities are claiming to burst an online casino that used to handle bets worth $3 billion, 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.

Further he had deployed a very clever strategy where he had hired people to lure gamblers out, and then he used to pay those people fixed commissions for every deposits the gambler made through them.

Lastly I would request you’ll to wager only on reputed casinos, and check their history before you wager otherwise you may end up loosing your funds to fraudulent online casinos.

Sources:

https://calvinayre.com/2020/05/31/business/vietnam-biggest-ever-online-gambling-bust/

https://www.gamblingsites.com/online-casino/safe/ (Ignore those banners and links, but read those pointers)

This only proves how great the Vietnam government in tracking these Big fishes though that is a huge amount and took long before being Held as liabilities under their administration because how can these Big operators can run their business illegally without being detected?


also same problem almost the whole Asian community that there are these kind of gambling operator that making Money without being traced and took a longer time before paying their mistakes.

There are a lot of corrupt official behind this

and those corrupt official must be in Bars also together with this operators.

[Barnabe]

Are you interested in that "Saint"-loup? See what I did there? Lol

Anyways, I only have seen kind of things in movies, not in real life. I bet it's the same where the richest group of people who pay people just to fight. Isn't fighting sports something like that? It's not like up to the death thing but it's close. Maybe there are parts of it in the deep web.

Thank you but I was talking to iv4n. And I don't think it's your alt account since you replied to him...  

Being part of the quoted post makes you part of the conversation as well. Better yet, you could specifically put "iv4n" on that question. You should've just deleted my quote on there and prevent this confusion.

No problem bro, it was just a (very funny) joke.  
BTW do you know, or someone else, urls of casinos in the deep web ?
In my country we must report to the tax authorities every single account able to receive cryptos we open.  

You don't need to go to the deepweb to be safe, just use a VPN and use more trustworthy websites. Usually the taxmen will only go for the easiest targets, by using a VPN you are already ahead of most people.

Thank you for the advice Barnabe but do you know some free VPNs suitable for that purpose or at least very cheap ones please?

I'm no specialist, but I regularly use windscribe and had no problems until now. They have a free offer with 5gb of traffic included, but they used to have free offers for 20gb unlimited in time (no idea if they still do it).
Maybe other users here can advise you other options.

[Shimmiry]

Vietnam authorities are claiming to burst an online casino that used to handle bets worth $3 billion, ...

Used to? Therefore it means they've only had 3Billion in the past yet where is it now? Maybe they've given it back before they have closed. But do you have the link of proof that their gambling site spread across the whole world ending up scamming a lot of users? And if all the article stated was fact, why are there no user's in here posting a thread about such scam? I don't know vietnam but I think suppressing casinos and having high standards in online gambling organizations would simply urge vietnameses to operate underground.

[KTChampions]

All such large illegal businesses operate under the control of corrupt officials. Apparently this casino had big patrons. And after this scandal happened, it’s not at all a fact that the casino will be completely closed - perhaps it will only change signboards and will come under the control of another group of corrupt officials.

There are a lot of corrupt official behind this, they cannot operate a casinos that handle $3 billion worth of money and since they are making huge money they can pay corrupt officials to back them up, I also do not see this illegal gambling ends, once the operators are freed they will just change their name, but this time they will be more careful or add more officials to bribe.

Given that this is an online casino, they only need to change their jurisdiction and work on a "muddy" scheme of depositing/refunding a deposit. After that, the casino will continue to work and even honest officials will have little chance of catching these businessmen for violating local laws.

[Vishnu.Reang]

I have made this clear multiple times. Politicians need to seriously consider legalizing and regulating gambling. Due to the progress is technology, the world has become smaller. If gambling is banned in a particular country, you can easily catch a flight and travel to another country where it is not banned. Also, you can visit online gambling sites from countries where it is legal. In the end, the country where it is illegal will be losing valuable tax revenues.

[Casdinyard]

I have made this clear multiple times. Politicians need to seriously consider legalizing and regulating gambling. Due to the progress is technology, the world has become smaller. If gambling is banned in a particular country, you can easily catch a flight and travel to another country where it is not banned. Also, you can visit online gambling sites from countries where it is legal. In the end, the country where it is illegal will be losing valuable tax revenues.

Vietnam didn't banned nor prohibits any gambling activities, as they only follow sets of rules and regulations that is already written in their law. If you would search thoroughly, they are starting to accept betting as long as they register and meet the required capital per gambling activity. The news (if you really read) only indicates (arrested to be exact) illegal and unregistered online casino, and not the Vietnam gambling in general. Here's a quote of an article:

On June 14, 2018, Vietnam’s National Assembly passed a bill, legalizing the principle of sports betting, with government oversight. As of now, it lacks clarity on a number of issues, such as categories of sports which will be included as well as how it will be implemented by the government. The government will be releasing further details before it comes into effect next year. This law follows a March 2017 decree, which legalized betting on international football games, horse races, and greyhound races.

This only proves how great the Vietnam government in tracking these Big fishes though that is a huge amount and took long before being Held as liabilities under their administration because how can these Big operators can run their business illegally without being detected?

We know that the big operators can easily find the corrupt government employees and pay them for some money just to secure their business from the law. It is not a problem for the big operators to spend some money to make more money if the casino can be safe from the tracking. I think that is happening in many countries that running illegal things, not just casinos, but sooner or later, their illegal business will get caught by the honest police.

Indeed that vietnam is recently focusing and taking an immediate action on those illegal and unregistered businesses (gambling) but I don't think big fishes is that enough for them to really control the vast illegal gamblers in their country, some uses online and virtual private networks despite the Vietnam's internet policies. Hence, I think they would need a much stronger bill/law if they would really want to be against gambling.

[BitcoinTurk]

Prior to the pandemic process, such illegal betting gangs and illegal gambling gangs were operating, but they never had such serious turnover. With this news, I see that this pandemic process we have experienced has significantly increased the transaction volumes of such illegal gangs and many gamblers have not hesitated to choose this method. Yes, perhaps the amount we are talking about is not really a lot for the gambling industry, but it is still a sad thing that illegal gambling and betting games are being traded with such a high amount of money. As I see this kind of news, I understand that actually dependent gamblers like this have no fear of anything, so there was no need to close casinos and similar businesses. Although it is beneficial for everyone to have these businesses closed, unfortunately people who earn money to these illegal gambling gangs do not deserve such precautions and stay healthy in these conditions.

[Vishnu.Reang]

All such large illegal businesses operate under the control of corrupt officials. Apparently this casino had big patrons. And after this scandal happened, it’s not at all a fact that the casino will be completely closed - perhaps it will only change signboards and will come under the control of another group of corrupt officials.

See.. this happens everywhere. Most probably, what happened here is that the officials were not happy with their cut and wanted an increase. However, the casino owner refused saying that he can't pay any more. The raid was a revenge attack on the casino owner, to instill fear in his mind. Now he might have increased to the new demands and at least for the next few months, the operations are going to be safe.

[milewilda]

Pretty incredible that a casino of that size was able to operate under the radar for so long.

Even if he had a house of judge 1%, that means the guy successfully generated $30 million in profit without even raising a suspicion? The place more likely had a crazy high house edge too, given that it was already operating illegally, so something like 3% ($90m profit) is more likely (deducting operating costs).

Not really much of a difference between a licensed an unlicensed platform so long as they're using fair equipment and not rigging the games. But the government's gotta get its share of the revenue or its curtains!

Its really incredible that it did really become so big without being bust up for a long time which we can presume out that there are people whom do protect such illegal casino.
They might be hiding from taxes but they do pay up the ones who do handle out to maintain up their operation without getting too much attention from the outside or in governments vicinity.
Its not really something new because illegal things do work on that way thats why they havent been caught for too long but this one had been burst up but there are still lots of them
havent been detected or found up yet.

Connections from higher authorities are common in running illegal businesses in a country that's why they continue operating without getting busted. Since it's illegal in Vietnam and maybe even authorities want to gamble but since they can't, perhaps there is also a possibility that government authorities themselves are gambling there. We all know how can some of the higher officials work dirty for the sake of money.

If such huge earning casino can run in Vietnam for that long without getting caught, I bet there are also other casinos running aside from that. Also, it's not just about running away from taxes since others have already mentioned that it's illegal in Vietnam that's why they can't even get a license even if they want to.

We can really presume that would always be the case and as said its banned nor prohibited and there would be no other options but to make it underground and of course
higher authorities would really always have the power and if not then those big investors would really be on the place and for them to run longer then they would need
to pay up, not with the tax but the money needed for them not to be bust out.We dont know on how this one had been busted, either its truly being detected or
someone just really spilled out some nasty info of this illegal casinos existence.

[peter0425]

All such large illegal businesses operate under the control of corrupt officials. Apparently this casino had big patrons. And after this scandal happened, it’s not at all a fact that the casino will be completely closed - perhaps it will only change signboards and will come under the control of another group of corrupt officials.

There are a lot of corrupt official behind this, they cannot operate a casinos that handle $3 billion worth of money and since they are making huge money they can pay corrupt officials to back them up, I also do not see this illegal gambling ends, once the operators are freed they will just change their name, but this time they will be more careful or add more officials to bribe.

What canw e expect from Illegal Operator?

they surely Put Big amount of money Outside the Business to payroll government officials for safeties.

I don't know what happened because they are being exposed but i'm sure there os big fish behind this.

[Bezobraznike]

-Seen

-Seen

What canw e expect from Illegal Operator?

they surely Put Big amount of money Outside the Business to payroll government officials for safeties.

I don't know what happened because they are being exposed but i'm sure there os big fish behind this.

   I agree with all of you! To run illegal casino you need help from government! You can do it alone,
you need protection! For sure they pay for that protection, government officials, police, and many
others.
    Peter0425 if you cut off one hydra head, two more would grow back in it's place, it's what I think
it will happen.

[batang_bitcoin]

We know that the big operators can easily find the corrupt government employees and pay them for some money just to secure their business from the law. It is not a problem for the big operators to spend some money to make more money if the casino can be safe from the tracking. I think that is happening in many countries that running illegal things, not just casinos, but sooner or later, their illegal business will get caught by the honest police.

They can legally run the casino if they're earning big. What I don't understand with these business operations from huge casinos is why they have to bribe if they can easily register and get permits from the government to continue their operations without any hassle.
Except those casinos that are operating in countries whereas it's illegal to run a casino.

[alani123]

The mere use of the word 'illegal' is only defined by governments. In the case outlined in the OP the players must have been harmed more than the platform. Imagine how many players would have lost money on that 'bust'. The government could have taxed the earnings of the casino and would have been better off long term. Instead they opted to be short sighted to seize the large sum of money, seize everything and force the casino to shut down. This is exactly why governments shouldn't be trusted.
I think this is a good example of why the robustness BTC can offer to players and platforms should not be underestimated.

[ethereumhunter]

We know that the big operators can easily find the corrupt government employees and pay them for some money just to secure their business from the law. It is not a problem for the big operators to spend some money to make more money if the casino can be safe from the tracking. I think that is happening in many countries that running illegal things, not just casinos, but sooner or later, their illegal business will get caught by the honest police.

They can legally run the casino if they're earning big. What I don't understand with these business operations from huge casinos is why they have to bribe if they can easily register and get permits from the government to continue their operations without any hassle.
Except those casinos that are operating in countries whereas it's illegal to run a casino.

I am sure they can do that easily, especially if they make big money from the casino. But each casino owner will have a different reason for making their casino legal or not because there still big casinos out there, but they don't get any license from the government. But if they can register their casino, I think that will work only for the formality in the government's eyes, so they don't try to ask for the "hot money."