17 Americans so far have been indicted in a nationwide illegal US sports gambling ring bust. Over 2,000 bettors bet on offshore website 365action.com, which netted US 32 M per year.
In major online gambling news in US, 17 people have been arrested so far this week for being part of a illegal US sports gambling ring bust. The ring had moved millions of dollars through American banks and credit card companies, with deposits ranging from USD 5,000 to USD 270,000. Players used the Panamanian website 365action.com and an 800 number to keep accounts and place wagers on sports like college basketball, hockey, football, and baseball.
The Americans indicted so far for internet gambling in US are from New York, Nevada, Arizona, and California. They face charges including money laundering, enterprise corruption, promoting gambling, and conspiracy. According to a news release from the Los Angeles Police Department, the defendants could face up to 25 years in prison if convicted.
Illegal US sports gambling ring bust sign of a bigger issue?
As online gambling sites in US are registered in foreign countries, they remain out of reach of US gambling laws. However, 365action.com was run within US, helmed by Cyrus Irani, 37, of Santa Clarita, California. It was also obviously aimed at American audiences, as it was stated on the company website that all wagers were made in US dollars.
District Attorney Richard A. Brown of Queens, New York, believes not only that the illegal US sports gambling ring bust is bad for society, but also all forms of online gambling that encompass the “multibillion-dollar, worldwide industry.”
He said in a statement that: “There are some who would argue that internet gambling is a victimless crime. I very much disagree. Internet gambling has been compared by some to the crack cocaine epidemic of the late ‘80s and early ‘90s. It has been said of internet gambling that you simply ‘click the mouse and lose your house.’ Once you start, you cannot stop.”