Police break up China's largest online gambling ring

Police in Xianning, Hubei province said they have broken up China’s largest online gambling ring, the South China Morning Post reported, citing state media. The ring was run by six gangs and enabled gamblers to bet on soccer matches and horse racing. It involved approximately 57 people and had operations totalling US$7.31 billion. Authorities do not expect to recover much of that money as it has been transferred overseas. The online gambling operations were used by senior managers of state-owned companies and government officials who could place bets overseas without applying for travel permits. Previous online gambling-related arrests in Shanghai, Tianjin, Henan and Liaoning reportedly seized funds in the range of US$1 million, but nothing as large as the recent Hubei case.