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Citibet – racing’s billion-dollar headache: uncovering the illegal exchange’s huge turnover


Wandering Eyes

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It’s a mysterious beast that has racing jurisdictions scratching their heads about how to control it, but the Asian Racing Federation is shining a light on the impact illegal betting exchange Citibet is having in the region. While it is unclear who owns Citibet, experts have previously claimed the online operator boasts an annual turnover of US$50 billion, with a significant chunk of that in southern China. In a research paper compiled by the ARF’s anti-illegal betting task force,...

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