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Philippines case highlights South Korea-linked online betting network
Authorities allege a network of 23 illegal online betting websites generated an estimated 5.3 trillion won, or about US$3.8 billion, from November 2018 through 2026.
According to SCMP Economy, the Philippines has spent years dismantling Chinese-linked gambling operations through high profile raids, while South Korean syndicates allegedly built a separate parallel online betting business with far less scrutiny.
The outlet reports that a recent arrest involved 29-year-old Kim Young-sun, whom authorities allege ran a network of 23 illegal online betting websites operating out of offices in Pasay and Quezon City.
SCMP Economy says the websites produced an estimated 5.33 trillion won, or about US$3.8 billion, between November 2018 and this year, and that additional arrests and related cases unsealed in Seoul suggest the broader Korean criminal economy may be larger than previously understood.