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Fifteen men and one woman, aged between 61 and 80, are being investigated for their suspected involvement in illegal horse betting activities.
The police said in a statement that officers from Ang Mo Kio Police Division conducted enforcement operations along Serangoon Avenue 3 between Aug 4 and Aug 8.
Three men and a woman, aged between 68 and 80, were arrested for their suspected involvement as bookmakers while 12 men, aged between 61 and 80, are being investigated for betting with bookmakers.
More than $18,200 in cash, five mobile phones and betting paraphernalia were seized.
Investigations against all 16 people are ongoing.
Under the Betting Act, any person who bets with a bookmaker can be fined up to $5,000, imprisoned for up to six months, or both.
Any person who is found guilty of bookmaking will be fined between $20,000 and $200,000, and imprisoned for a term not exceeding five years.
The police said they take a serious view against all forms of illegal betting activities.
"The police will continue to take tough enforcement actions and prosecute those involved in accordance with the law," thestatement said.
"Members of the public are advised to steer clear of all forms of illegal gambling activities."