World Cup highlights Asia's illegal betting boom (Yahoo!)
As teams battle for football glory at the World Cup in Brazil, the biggest winners from the tournament may be illegal bookmakers in Asia.
Chen, who started betting on sports that also include NBA games four years ago, said that during the previous World Cup in South Africa he bet 115,000 yuan ($18,500) in a single day on three different games – a huge sum for the average Chinese – and lost about half of it. ”I'll call my friend and transfer money to him and he would help me to deal with the rest.”
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Chen, who lives in the southern city of Shenzhen, next to Hong Kong, would only give his surname because he didn't want to get in trouble with authorities for sports betting in China illegally. Demand for bets from Asian sports enthusiasts illustrates how the World Cup is also a huge bonanza for betting companies while focusing attention on the surge in illegal wagering in East Asia, where there are few legal options to accommodate the lucrative market.