Major Offshore Online Gambling Operation Busted In New York

Online gambling, especially when it comes to sports wagering, has become one of the biggest industries in the world. The only problem i the US is that it is illegal, and when authorities set their sights on an operation, it most likely will fall.

That is the case for a multi-million dollar offshore online gambling operation that was being run by members of two of New York's biggest organized crime families. The Genovese and Gambino crime families both took a hit Wednesday when authorities announced that twenty-seven people were arrested in the online gambling bust.

The operation had links to both crime families, according to Richard A. Brown, the Queens District Attorney. Three more people are expected to be arrested, but authorities are still searching for the suspects. They are thought to be in Panama.

Many offshore gambling operations are being run in Costa Rica or panama. This operation is said to have brought in $20 million a month in wagers. A wire room in Panama was used to run the online gambling accounts.

The investigation, dubbed Operation Betting It All, has been ongoing for over thirty-eight months. Authorities seized over $3 million in cash and were not finished with their seizures. There is expected to be much more in assets that will be seized in the coming days.

Over a twenty-eight month period, the illegal gambling ring brought in over $567 million. That figure represents a "staggering amount of money," according to Police Commissioner Raymond W. Kelly.

October 22, 2009
Posted By Terry Goodwin
Staff Editor, CasinoGamblingWeb.com
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