Hong Kong: Six Licensees Arrested In Illegal Gambling Probe

Six Hong Kong Jockey Club licensees are among the 21 people arrested this week in a bust of an illegal bookmaking ring in Hong Kong, according to the South China Morning Post. Two unnamed assistant trainers and four stable staff are alleged to have passed insider information onto other operants in the bookmaking scheme, according to the Independent Commission Against Corruption.

The ICAC put out a statement indicating the arrested persons were arrested for “suspected corruption in relation to the provision of privileged information to facilitate illegal bookmaking and control of racehorses.”

The Hong Kong Jockey Club has publicly expressed concerns about the power of illegal bookmakers for some time, and at the recent Asian Racing Conference, representatives stated illegal wagering turnover is estimated to be growing at twice the annual rate of legal betting. Best estimates indicate $140 billion go through illegal wagering markets each year.

Read more at the South China Morning Post

The post Hong Kong: Six Licensees Arrested In Illegal Gambling Probe appeared first on Horse Racing News | Paulick Report.

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