An Asia-based group is thought to have been working with criminal networks around Europe.
Europol, the European anti-crime agency has identified about 680 suspicious matches across 30 countries.
They include World Cup and European Championship qualifiers and Champions League matches.
Europol Director Rob Wainwright said: "This investigation coordinated multiple police inquiries across Europe and was facilitated by intelligence reports from Europol which was based on the analysis of 13,000 e-mails and other material.
The investigation has since led to several prosecutions in the countries involved."
Investigators say 425 match officials, club officials, players and serious criminals are suspected of being involved and 50 people have been arrested so far.
The syndicate is believed to have made at least eight million euros in profits.
Source: Euronews
