HONG KONG: Hong Kong police have seized 35 million US dollars worth of illegal betting slips during the World Cup, with that figure expected to soar ahead of this weekend`s final, a report said Thursday.

Since the global tournament kicked off last month, police in the financial hub have launched a series of raids that netted the arrests of at least 55 illegal bookmakers and hauled in about 270 million Hong Kong dollars (35 million US dollar) in betting records, the South China Morning Post said.

The betting figures are an almost four-fold increase from the 2006 World Cup when police seized gambling slips worth 74 million Hong Kong dollars.

Hong Kong police did not immediately respond to the report.

In a joint operation last month, mainland Chinese police arrested at least 45 people and confiscated 44 million Hong Kong dollars` worth of betting slips in the nearby southern industrial city of Shenzhen.

Punters in Hong Kong, a football and horse racing-mad former British colony returned to China in 1997, can bet legally on a variety of sports events including the World Cup through the Hong Kong Jockey Club.

About 35 billion Hong Kong dollars in legal bets were placed on football matches in 2009, according to Jockey Club figures.

Illegal bookmakers are said to offer better odds, and easier credit terms -- although failure to repay can bring horrific punishment, according to police.

BDST: 1245hrs, July 8, 2010