South Korean police bust alleged illegal horse-racing gambling ring

The syndicate is accused of illegally streaming KRA races.

South Korea.- Police have arrested two people allegedly linked to a an unauthorised horse-racing gambling website that evaded detection by relocating to Vietnam and using leaked live footage from the Korea Racing Authority (KRA). The operation, which attracted nearly 18,000 users, is accused of managing approximately KRW1.4bn (US$1m) in bets on KRA races, while a linked currency exchange operation processed a KRW170bn (US$123m).

To obtain real-time KRA race streams, the syndicate allegedly paid a Chinese vendor monthly for footage suspected to have been leaked from one of the 24 countries where the KRA legally distributes its broadcasts. Initially based in Ilsan, Gyeonggi Province, the operators moved to Ho Chi Minh City, Vietnam, in September 2023. Recruitment tactics included mass text message advertisements and endorsements from horse-racing YouTubers.

In a parallel operation, police apprehended 18 alleged members of a Busan-based gang that managed deposits and withdrawals for eight illegal gambling sites, including this one. Authorities have also charged 140 high-volume gamblers with gambling offences. Police have frozen KRW540m (US$385,000) in criminal proceeds and are seeking to seize an additional KRW520m (US$370,000) through pre-indictment preservation orders.

The investigation began in June 2024 following a tip-off.. Officials emphasised that all online horse-racing betting outside the official KRA platform is illegal, warning users of potential prosecution.

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See also: South Korean police dismantle alleged illegal gambling ring

The syndicate is accused of illegally streaming KRA races. South Korea.- Police have arrested two people allegedly linked to a an unauthorised horse-racing gambling website that evaded detection by relocating…