China Gambling Ring Exploiting ‘Losing Account’ Sports Bet Loophole Busted
Chinese police in the eastern city of Wenzhou say they have disrupted a syndicate that illegally capitalized on an online sports book “loophole” to cash in the equivalent of around US $4.6 million. Two Chinese police officers stand guard in Beijing in an image taken in 2009. Their colleagues in Wenzhou have disrupted a gambling ring that made $4.6 million in just seven months. (Image: Getty) The scheme involved buying up hundreds of money-losing accounts to exploit perks afforded to big-betting but unsuccessful gamblers, as reported by Wenzhou Evening News. Police said the “core figure” of the gang was a Wenzhou internet café owner identified only as “Shi.” Shi had …