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Vietnamese Police Raid Online Casino Operation

Online casino operators in Vietnam were expecting a more favoring approach from their government, in light of recent moves towards online casino regulation, however such approach is not the one taken. One online casino operator in the northern city of Ho Chi Minh learn the lesson the hard way with Vietnamese authorities taking down his online gambling operation. The police busted the online casino sports book ring and confiscated large amounts of computer hardware and cash.

The winds are definitely blowing in the direction of future regulation, but until such regulation takes place, the Vietnamese are very keen at stopping online gambling in their country. The police raided a complex of buildings owned by the online casino firm and took the operation down completely. Several people were arrested during the raid, and are alleged to take bets high as $4,000 a day as part of the online casino ring’s operation. Taking bets in Vietnam is illegal for now, and running an online casino sports book isn’t permitted.

Vietnam’s authorities were talking about regulating the online casino industry in the country, but apparently are looking to send a clear message as well. Online casino gambling is off limits in Vietnam until regulation really happens. With the changes in the global online casino market, and more companies forcing their way into the Asian online gambling market, the regulation process might pick up its pace. A regulated international industry could generate high revenue for the Vietnamese government, and there is going to be a rough competition on the attention of international operators pretty soon.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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