Switzerland, U.S. Splits Take from Illegal Online Gambling

The U.S. and Switzerland will pocket almost $25 million each from the dismantling of BetOnSports, an illegal online gaming service. The operators copped a plea in 2009; hidden funds were recently released.

Shop shut down in 2006

Almost $50 million banked in Swiss banks by an illegal online sports betting firm will be split by the United States and Switzerland, according to the Associated Press.

The assets of BetOnSports, which was shut down in 2006, have finally been released, says the Swiss Justice Ministry. The U.S. Treasury rewarded the Swiss government by splitting the take, which amounts to more than 50 million Swiss francs ($49 million).

BetOnSports was based in Costa Rica-based. The AP reported that it caused customers to lose millions in illegal bets.