In many cases, the operators themselves are members of criminal gangs, and so illegal betting — far from being a victimless crime — is funding criminal enterprise. According to the report, triads run the majority of illegal betting sites in Hong Kong.<\/p>\n
CITIbet — one of the biggest betting exchanges in Asia, and therefore the world — licensed or unlicensed — is believed to have links to organized crime.<\/p>\n
\u201cOur message to authorities is not only that illegal betting is a threat to racing and other sports, but also that a less visible threat of money laundering underlines illegal betting and facilitates the growth of transnational organized crime,\u201d said Martin Purbrick, the Hong Kong Jockey Club\u2019s head of security and integrity.<\/p><\/blockquote>\n
\u201cThese issues require government action. If racing administrators do not influence governments and regulators to more effectively combat the illegal betting problem, it could kill the sport,\u201d he added.<\/p>\n","protected":false},"excerpt":{"rendered":"
Betting on the black market is more injurious to health and wellbeing than betting on regulated markets, a new study by the Asian Racing Federation claims. The research paper looked at six gambling jurisdictions — Hong Kong, Singapore, South Korea, Australia, New Zealand and South Africa — and found there was evidence to suggest that […]<\/p>\n","protected":false},"author":36,"featured_media":96188,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[14577,19,20,13592,18943],"tags":[],"acf":[],"yoast_head":"\n
Black Market Betting Bad for Your Health, Report Warns<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n