Singapore-Linked Company Implicated in Illegal World Cup Betting
The operator is said to be based in Curaçao but presented itself online as a Singapore-born sports operator.
An overseas gambling platform has allegedly been taking illegal bets on FIFA World Cup matches from people in Singapore by routing payments through companies registered locally, according to reporting by The Straits Times.
The platform, GemBet, is said to be based in Curaçao and to run country-specific web addresses, including ones aimed at Singapore users.
Singapore visitors who click through GemBet’s localised links are redirected to its main site, where they are asked to set up a digital wallet and then top up their accounts using cryptocurrencies or PayNow.
Those choosing PayNow are instructed to send money to one of three Singapore-registered firms, which were incorporated this year and include a manpower contractor, a cleaning services company and a wholesale trader. Corporate records showed the businesses are tied to Housing Board residential addresses.
Directed at Singaporean
GemBet has also presented itself online as a Singapore-born sports betting operator, saying it was founded in 2020 before moving to Malaysia in 2022.
The platform had posted video guides on YouTube explaining how users can deposit funds through DBS Bank accounts, and its marketing material appears designed to attract Singapore-based punters.
Jumio’s latest Online Identity Study, published last month, found that 76% of Singaporean respondents worried about underage bettors during the World Cup.
