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

[batang_bitcoin]

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."

Except with the reason of being prohibited to operate due to the permanent ruling of their government. What could be any possible reason that these owners can think of why they can't register and make their business legal?
It's more professional and they don't have to think of chase whenever the authorities goes visit and check them because they have legal papers to show if they are registered.

[South Park]

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.

I agree, with an operation as large as this it is impossible to be under the radar, many powerful people knew about this illegal operation and they either turned a blind eye, they were bribed or they were part of the operation on the first place, what surprises me is why people with an ability to manage such a complex business decided to go through an illegal route to make money? They could have established a casino in a country in which this was legal or they could have created an online casino as well, why waste your talents in something that sooner or later will come crashing down?

[KTChampions]

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.

An interesting point of view, but governments believe that if projects/businesses use public infrastructure and do not pay taxes, they steal. And I must say there is a sense in such an opinion. As for the consequences of closing this business, these are the inevitable consequences of justice. When a killer is sent to prison, a lot of people (his relatives, creditors, etc.) suffer in a similar way.

[kawetsriyanto]

Is this because of the greed of casino owners who want to only get profit without having to pay taxes or other fees to the country? To be sure, if this is an illegal act, surely the Vietnamese government will take firm action against it. Destroying the online casino business that gives high stakes might be risky. However, if not, it can also be detrimental to many parties. including actually the gamblers themselves. And why is the casino just unfolding now? Is there any other parties that know about this previously and only silent because of something?

[JohnBitCo]

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.

They can even survive if they give bribe to the police. Police and the law enforcement agencies are indirectly involved in illegal's activities and most of the criminals activities are backed by these people who were suppose to enforce the law but unfortunately get money and let the illegals' activities grow in the city. Unless you have a strict system to control these corrupt officials, you cannot control the crime.

[South Park]

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.

While I understand the sentiment we cannot really choose which laws to follow, in this particular case the ones that were in the wrong were the owners of the illegal casino, and the players playing there probably knew of this and they still decided to play there and assume the risk of losing their money if this were to happen, if the owners of this casino wanted to make their operation legal then they should have tried to change the law before they established their casino and convince the government it was on their best interest to do so thanks to all the tax revenue they will generate, but that argument cannot be used after the fact to try to justify their actions now they have been busted.

[ene1980]

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'.

As long as you are living in a society governed by a set of rules you are bound to follow the rules, the situation here is that they were crediting people who are not having money to gamble and pushing them to debt that cannot be sorted out and that is not an enviornment any government would want and may be that is the reason they were busted as things were getting out of hand if not they would have paid off everyone to sort these situation as it was a billion dollar business.

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.

This is not even a reason to hate the government, you need to have regulation and the gamling house should not steal your money and for that you need to have a legal body to monitor everything, if you trust in fairness then you will not find it hard and paying off after getting caught is not always a great solution.

[bitcoinst]

Is this because of the greed of casino owners who want to only get profit without having to pay taxes or other fees to the country? To be sure, if this is an illegal act, surely the Vietnamese government will take firm action against it. Destroying the online casino business that gives high stakes might be risky. However, if not, it can also be detrimental to many parties. including actually the gamblers themselves. And why is the casino just unfolding now? Is there any other parties that know about this previously and only silent because of something?

I think there can play a lot of factors. Such large-scale affairs, as a rule, never do without politics. Always someone gives permission to take bribes and close their eyes on a particular illegal activity.
And when someone becomes dissatisfied with their share, or a change of power occurs, we observe similar events that seem slightly unbelievable.

[ethereumhunter]

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."

Except with the reason of being prohibited to operate due to the permanent ruling of their government. What could be any possible reason that these owners can think of why they can't register and make their business legal?
It's more professional and they don't have to think of chase whenever the authorities goes visit and check them because they have legal papers to show if they are registered.

Maybe they still want to operate in the underground without paying more money to the government. Or they can register their casino legally, but they still pay some officers to help them. They need to give many documents to verification and validation, including all of their bank account, so the regulations are not checked their business because if one casino wants to register. That will not be good if the owner still wants to cover the other business. But we don't know what they will do so that we could guess only.

[bearexin]

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.

Because of a couple of reasons actually which are but not limited to:

1- Taxation: The casino operating legally has to pay a huge amount of fees and taxes to their local authorities and license providers and it is a common theory that you better run illegally and once caught you save enough by that time to pay them, I don't agree with such methodologies but that is a common reasoning.

2- Rules: When you run a casino legally there are various laws you need to follow which might be banning users from USA and other countries for example like a lot of crypto exchanges are forced to deny particular country members.

[Becky666]

More reason why gamblers must be careful about the platform they gamble, doing a little research will definitely help not to give out your hard earned money to fraudsters. Believe me, many have been victim of this gambling casino before the police bursted them. For any gambling casino to think of ways in which they can extort gamblers means they are not reputable. Good that the police bursted them, probably for them to register the casino.

[tbterryboy]

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.

I agree players are the ones who actually suffer the most during any scam or government busting a particular platform but at the same time the players must use their due diligence and now just check the license of the gambling operator and instead verify it too.

The government could have taxed the earnings of the casino and would have been better off long term.

Sounds good for everyone but that sets a bad example for everyone because no one would want to pay taxes and rather wait until they are caught and then pay some money and if they aren't caught they can continue their illegal practices.

I believe casinos should know that once they are big and earning healthy they should immediately try and get registered legally because there is no way you make millions and you will sneak under for life.

[stomachgrowls]

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."

Except with the reason of being prohibited to operate due to the permanent ruling of their government. What could be any possible reason that these owners can think of why they can't register and make their business legal?
It's more professional and they don't have to think of chase whenever the authorities goes visit and check them because they have legal papers to show if they are registered.

Maybe they still want to operate in the underground without paying more money to the government. Or they can register their casino legally, but they still pay some officers to help them. They need to give many documents to verification and validation, including all of their bank account, so the regulations are not checked their business because if one casino wants to register. That will not be good if the owner still wants to cover the other business. But we don't know what they will do so that we could guess only.

2 reasons i do saw on why they do operate illegally:

-Legal issues (gambling prohibited country)
-Tax evasion

These are reasons on why they do decide to have business underground.

More reason why gamblers must be careful about the platform they gamble, doing a little research will definitely help not to give out your hard earned money to fraudsters. Believe me, many have been victim of this gambling casino before the police bursted them. For any gambling casino to think of ways in which they can extort gamblers means they are not reputable. Good that the police bursted them, probably for them to register the casino.

I disagree with this kind of sentiment.Why? they wont really get that big if that place is rigging up everything or trying to take advantage of its players.This is just a

common casino business but the difference here is that they do operate illegally, not in the sense that they are also a not fair casino just because of license or legal issues.

People wont bother out on going to that place if they do find out that they've been losing in a suspicious manner.

[Fredomago]

More reason why gamblers must be careful about the platform they gamble, doing a little research will definitely help not to give out your hard earned money to fraudsters.

You should be more responsible doing your research in order to avoid being victimized by this kind of illegal businesses. They are enjoying every money without any legal documents which can easily disappear.

Believe me, many have been victim of this gambling casino before the police bursted them.

Though the main fact here is this casino are operating illegally and manage to let gamblers to enjoy the platform without any problem from the gamblers end.

For any gambling casino to think of ways in which they can extort gamblers means they are not reputable. Good that the police bursted them, probably for them to register the casino.

The owners think that they can continue without being busted, enjoying all the profits with such a long period of time, it's now on the hands of the government on how they'll going to use all those freeze funds.

[plvbob0070]

More reason why gamblers must be careful about the platform they gamble, doing a little research will definitely help not to give out your hard earned money to fraudsters. Believe me, many have been victim of this gambling casino before the police bursted them. For any gambling casino to think of ways in which they can extort gamblers means they are not reputable. Good that the police bursted them, probably for them to register the casino.

Aside from that, since the casino was operating illegally, whether gamblers know it or not, they are still liable for gambling in that casino. And I doubt that all those who gamble in that casino had no idea that they were operating illegally, so probably they knew it yet still keep on gambling. So I can't say that all of their customers were just a victim since they are still responsible for what they are doing. Perhaps they knew that it is being protected by higher officials that they are also not afraid that the online casino will get busted.

[DoublerHunter]

Aside from that, since the casino was operating illegally, whether gamblers know it or not, they are still liable for gambling in that casino. And I doubt that all those who gamble in that casino had no idea that they were operating illegally, so probably they knew it yet still keep on gambling. So I can't say that all of their customers were just a victim since they are still responsible for what they are doing. Perhaps they knew that it is being protected by higher officials that they are also not afraid that the online casino will get busted.

^ It is totally different if you are gambling in a licensed casino than the unlicensed one. First, the unlicensed or illegal casino will always have a huge amount of giveaways and promotions even every week. Because they know that their clients will never win against them and the bonuses and promotions are only way to lure gamblers and got their interest to visit the site. The unlicensed casinos probably the owner can manipulate or be tampered the RNG, to make it pay out less to their clients. This is strictly prohibited to the licensed casino because the RNG was must be approved by the legitimate gaming authorities if your casino was registered and have licensed. Nevertheless, you can analyze now which better to use, the unlicensed or the licensed casino?

[spike420211]

More reason why gamblers must be careful about the platform they gamble, doing a little research will definitely help not to give out your hard earned money to fraudsters. Believe me, many have been victim of this gambling casino before the police bursted them. For any gambling casino to think of ways in which they can extort gamblers means they are not reputable. Good that the police bursted them, probably for them to register the casino.

Of course, this was to happen sooner or later.
However, there are too many white spots in history, such large volumes are very often associated with money laundering from criminal activities, especially from drug trafficking.

Officials are often involved in such matters, even here, I am sure, could not have done without them, in the case of online.
The main question is what will happen to the players ’funds, I don’t think that the government will return the lost deposits back to the players, because the casino was not legal.

[reliable]

More reason why gamblers must be careful about the platform they gamble, doing a little research will definitely help not to give out your hard earned money to fraudsters. Believe me, many have been victim of this gambling casino before the police bursted them. For any gambling casino to think of ways in which they can extort gamblers means they are not reputable. Good that the police bursted them, probably for them to register the casino.

Of course, this was to happen sooner or later.
However, there are too many white spots in history, such large volumes are very often associated with money laundering from criminal activities, especially from drug trafficking.

Officials are often involved in such matters, even here, I am sure, could not have done without them, in the case of online.
The main question is what will happen to the players ’funds, I don’t think that the government will return the lost deposits back to the players, because the casino was not legal.

Surely there is some conspiracy behind, because it cannot be first go unnoticed where 3$ billion of bets were carried out from  so long. So their is involvement of top people in this case. And then when they were involved so there has to be the reason then it could be for drugs, money laundering, real estate etc. Hope the case reveals all such things if it has happened.

[Oilacris]

More reason why gamblers must be careful about the platform they gamble, doing a little research will definitely help not to give out your hard earned money to fraudsters. Believe me, many have been victim of this gambling casino before the police bursted them. For any gambling casino to think of ways in which they can extort gamblers means they are not reputable. Good that the police bursted them, probably for them to register the casino.

Of course, this was to happen sooner or later.
However, there are too many white spots in history, such large volumes are very often associated with money laundering from criminal activities, especially from drug trafficking.

Officials are often involved in such matters, even here, I am sure, could not have done without them, in the case of online.
The main question is what will happen to the players ’funds, I don’t think that the government will return the lost deposits back to the players, because the casino was not legal.

Surely there is some conspiracy behind, because it cannot be first go unnoticed where 3$ billion of bets were carried out from  so long. So their is involvement of top people in this case. And then when they were involved so there has to be the reason then it could be for drugs, money laundering, real estate etc. Hope the case reveals all such things if it has happened.

For sure there would be some tie ups to those people who are on top position which are involved into this kind of illegal operation of this casino.It is really impossible for these places

to be left unnoticed considering the amount involved is way too big.There are sure have protectors of this one but now it had been busted which i do suspect that someone part of that organization

do decide to leak out information. When it comes to revealing then i doubt that those infos would explode on because anything can really be hold up specially when money is already involved.

[spike420211]

`snip

`snip

Surely there is some conspiracy behind, because it cannot be first go unnoticed where 3$ billion of bets were carried out from  so long. So their is involvement of top people in this case. And then when they were involved so there has to be the reason then it could be for drugs, money laundering, real estate etc. Hope the case reveals all such things if it has happened.

The problem with such cases is that they themselves can be fake.
Perhaps this exchange from some of them owned high posts in the police, and they decided to throw their partners by pocketing all or part of the profits for themselves.

They can easily organize a criminal case with confiscation. In addition, we cannot know exactly what the turnover of this casino was.
Perhaps far from the entire casino turnover was disclosed, and those who started this have already organized a new casino to continue their illegal activities.