Bonus Hunting Ring Dismantled in Greece, Fraudsters Earned Over €1.5 Million

^{€19,000 in cash, SIM cards and electronic devices seized by police}

Greek police have dismantled a criminal organisation accused of defrauding licensed online bookmakers, according to Proto Thema.

Authorities said the group had operated for several years and generated illegal proceeds exceeding €1.5 million through the use of arbitrage betting strategies and systematic bonus exploitation.

The organisation allegedly comprised 43 members. Suspects are said to have created a large number of betting accounts using the personal data of third parties.

Registering accounts under different names enabled them to repeatedly claim welcome bonuses. Coordinated betting strategies were then employed to secure guaranteed returns regardless of the outcome of sporting events, investigators said.

The investigation identified hundreds of such accounts. Data analysis confirmed patterns of systematic abuse of promotional offers and coordinated betting activity.

Police seized more than €19,000 in cash, login credentials for over 700 accounts, more than 500 SIM cards and over 200 mobile phones. Five luxury vehicles, which investigators believe were purchased with illicit proceeds, were also confiscated. Weapons and ammunition were found in the homes of two suspects.

Authorities said the illegal activity had been ongoing since at least early 2020.

The suspects face charges including forming and leading a criminal organisation, fraud, document forgery, violations of gambling legislation and money laundering.

Gambling Park previously reported that scammers exploit Telegram dice game in user fund theft schemes.