World Cup 2026: Overseas gambling site using S’pore firms to collect illegal bets
An overseas gambling site uses Singapore-registered firms to collect illegal bets via PayNow.Summary
GemBet, an offshore gambling platform based in Curacao, is targeting Singaporean punters by using local companies to facilitate illegal PayNow transactions. Investigations revealed that three Singapore-registered firms, located in residential units, are being used to funnel deposits and payouts. While GemBet claims to be a legitimate operation with ties to European football clubs, it operates outside Singapore's legal framework.
Singaporean law imposes heavy penalties for illegal gambling, including fines and imprisonment. Despite recent enforcement actions by authorities that have blocked thousands of illegal sites and arrested numerous individuals, the use of local shell companies to bypass regulations remains a significant challenge for regulators.
(Source：The Straits Times)