ONLINE GAMBLING BURGEONS IN BURMA

13 July 2007

Millions in bets in sportsbetting action

Despite vigorous official attempts by the authorities to stamp it out, online gambling in Burma (Myanmar) has become a multi-million kyat business among the country’s better-off middle classes, reports The Irrawaddy newspaper this week.

The risk of heavy legal penalties are ignored by bookmakers cashing in on the zest for gambling on sports - mainly football - and other forms of betting over the Internet, the newspaper claims. Financial restrictions, such as the lack of a credit card system, are overcome by cash-only operations, which seem to work for the operators.

Burmese bookmakers are so successful at skirting the law that during last year’s World Cup football contest Thai operators slipped in from neighboring Thailand, where online gambling is also outlawed.

With the qualifying rounds of the 2008 European Football Championship contest under way and the start of Asia Cup matches, big money is being posted on Internet sites accessed by Burmese gamblers. Mandalay bookmaker Aung Ko told The Irrawaddy about 20 regular customers place bets with him worth 80 million kyat (US $62 400) a week. The minimum stake is 100 000 kyat (about $90).

Aung Ko said he is just one of at least four Mandalay bookmakers running online betting systems. “My business has made me very rich in a short period,” he boasted.

Other online bookmakers operate in Rangoon, Taunggyi and Monywa, all dealing through a leading Rangoon operator. Because of the difficulty of handling online currency and the lack of a credit card mechanism, debts are collected and payouts made in cash.

One of the gambling websites Burmese gamblers place bets is MANSION88 which is licensed in the Philippines.

Online Casino News courtesy of InfoPowa