Israeli Internet Gambling Ring Busted By Police

Gambling News - November 17th, 2009 - Written by Glen

According to the Jerusalem Post, the United States is not the only nation cracking down on illegal Online Gambling ventures. Israeli Police recently busted a massive online sports betting operation that has been operating since at least 2007.

The sting, which was no small bust, involved over 300 police and officials. The homes of 37 suspects were raided throughout the country. Gamblers had also been questioned and assets had been seized. The estimated value of the seizure was over ten million shekels. Vehicles were amongst the seized assets, and over 100 bank accounts had been frozen.

The sports gambling operation had allegedly drawn in over 340 million shekels, or $90 million dollars, since 2007. Since 2007, to 2009, it was estimated that over 70 million visitors had reached their site.

The site in question was originally called bet555.net, though they had renamed to betbet.us.

The original investigation had launched due to suspicions over money laundering and organized crime. The possibility of more serious, violent crimes stemming from the gambling operation.

Though this particular bust took place in Israel, the United States has seen its fair share of busts, including several over the Summer months and even one within the last week. Despite busts such as these to illegal sports betting operations, there are still plenty of legal online sportsbooks that are taking wagers without the possibility of legal interdiction.

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