Survey: Macau losing billions to side bets

Macau has lost as much as US$12.8 billion over the last five years due to a form of a widespread form of illegal side betting, according to a survey conducted by the South China Morning Post. The scam involves gamblers meeting with junket operators before entering casinos' VIP rooms and agreeing that wagers in the rooms form part of an larger under-the-table total to be settled afterward. Some estimate that these side bets could represent as much as 80% of the officially reported VIP gambling market in Macau. Players and junket operators caught side-betting face up to six months and three years of jail time, respectively.