Australian government’s gambling watchdog is warning punters to never deal with illegal overseas bookies like the way mothers forbid their children from talking to strangers.
Brisbane Times reported that Australia’s Black Economy Taskforce (BET) has sounded the alarm bells that illegal bookies based in Asia are siphoning tens of millions of Australian dollars from punters from the land down under through a high-tech money laundering system.
Authorities traced billions of dollars of punters’ money going to the Philippines and Vietnam.
The modus operandi of these illegal bookmakers is to lure punters – including the seasoned ones – in disclosing sensitive banking details, according to outgoing Racing Victoria integrity boss Dayle Brown. These illegal bookmakers use representatives in Australia to carry out the illicit scheme.
“Punters electing to be with unapproved offshore wagering operators are not only transacting with a business which is undermining the racing industry by paying no race-field fees, but they risk doing their money cold,” Brown said. “In my experience it’s a rarity for anyone to win anything from these bookmakers but they’ll certainly take your money. They have a systematic way of having the bets placed into Asia as just dragging away from the financial health of racing in Australia.”
What worries the Australian government, according to Brown, is the first-time bettors who may easily fall for the sweet offerings of these illegal bookmakers, such as longer odds and bonus bets, and send their money to Asia.
He advise bettors to always check whether they are betting in Australia-licensed bookmakers.
“There is a strong resolve amongst the Australian government, federal law enforcement authorities and the racing industry to address the issue of unapproved offshore wagering and we’re working collaboratively to identify the size of the risk and how best address it,” Brown said.
“The best options for punters is to always bet with a wagering provider who is approved to publish our race fields and therefore adhering to our conditions of approval.”
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