Quang Nam Province Police said Monday that Hoang Quoc Viet, 37, had formed the ring after contacting other members, all men between 28 and 33 years of age.
Investigation found that from July, the gang had created multiple accounts on the U.S.-based gambling site bong88 to organize gambling for hundreds of people, drawing more than VND600 billion of bets.
The group used exortion to collect payment from the gamblers when necessary.
Police have seized weapons including guns and over VND400 million ($17,140) from the gang.
Most gambling is illegal in Vietnam, where organizing gambling or running gambling dens is punishable by up to 10 years in jail in Vietnam.
Police are now investigating a massive illegal betting ring worth $422 million in the country's biggest-ever gambling bust involving around 100 people, including current and former police officials.
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