{"id":17098,"date":"2014-05-17T13:10:44","date_gmt":"2014-05-17T11:10:44","guid":{"rendered":"http:\/\/www.w-t-w.org\/en\/?p=17098"},"modified":"2014-05-17T23:39:44","modified_gmt":"2014-05-17T21:39:44","slug":"criminals-launder-140-billion-a-year-through-sports-betting","status":"publish","type":"post","link":"https:\/\/www.w-t-w.org\/en\/criminals-launder-140-billion-a-year-through-sports-betting\/","title":{"rendered":"Criminals Launder $140 Billion A Year Through Sports Betting"},"content":{"rendered":"

Andreas Frank<\/a>\u00a0writes: The report, compiled by the \"ICSS\"
\nICSS and the Sorbonne University in Paris, said that 80% of global sports betting was being carried out on illegal markets, placing it beyond the reach of regulators and investigators. \u00a0Manipulation takes place in a growing sports economy, which now accounts for 2% of the global GDP. \u00a0 The transnational sports-betting market is estimated with wagers worth between \u20ac200 \u2013 500 billion, more than 80% of which is illegal.<\/p>\n

Criminals are using betting on sports events to launder $140 billion each year, exposing a lack of effective regulation that allows match-fixing to spread.<\/p>\n

The findings assume: \u00a0Asia and Europe represents 85% of the total legal and illegal market. \u00a0Europe makes up 49% of the legal market, whilst Asia makes up 53% of the illegal market. \u00a0Legal sports betting currently delivers only \u20ac4 billion of official tax revenues for countries. \u00a0More than 8,000 legal operators offer sports betting \u2013 80% are in territories with a low rate of tax and few inspections.<\/p>\n

The internet has led to an unprecedented expansion of sport betting offers, with online betting now representing 30% of the global market. \u00a0The sports betting market has been transformed into a multi-billion dollar industry with betting exchanges, live betting, betting on more low-profile events and derivative betting formulas, as well as higher return rates for bettors.<\/p>\n

Soccer and cricket were identified as the sports most threatened by criminals seeking to rig the gambling market but tennis, basketball, motor racing and badminton were also affected, according to the report.<\/p>\n

A number of soccer leagues have been hit by match-fixing scandals in recent years and three Pakistani cricketers were jailed for a plot to deliberately bowl no-balls during a test match against England at Lord\u2019s in 2010.<\/p>\n

Practical solutions will help combat match-fixing and illegal betting. \u00a0These include creating a sports betting tax to finance investigations into match-fixing and illegal betting. \u00a0Players, coaches and administrators must be prohibited from betting on competitions and matches within their sport.<\/p>\n

\"\" P<\/b>rotecting the Integrity of Sport Competition – The Last Bet for Modern Sport<\/b><\/a>
\n\"Sportbetting\"<\/a>Corruption Reports<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Andreas Frank\u00a0writes: The report, compiled by the ICSS and the Sorbonne University in Paris, said that 80% of global sports betting was being carried out on illegal markets, placing it beyond the reach of regulators and investigators. \u00a0Manipulation takes place … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[22,13],"tags":[],"class_list":["post-17098","post","type-post","status-publish","format-standard","hentry","category-corruption","category-finance"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.w-t-w.org\/en\/wp-json\/wp\/v2\/posts\/17098","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.w-t-w.org\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.w-t-w.org\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.w-t-w.org\/en\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.w-t-w.org\/en\/wp-json\/wp\/v2\/comments?post=17098"}],"version-history":[{"count":11,"href":"https:\/\/www.w-t-w.org\/en\/wp-json\/wp\/v2\/posts\/17098\/revisions"}],"predecessor-version":[{"id":17122,"href":"https:\/\/www.w-t-w.org\/en\/wp-json\/wp\/v2\/posts\/17098\/revisions\/17122"}],"wp:attachment":[{"href":"https:\/\/www.w-t-w.org\/en\/wp-json\/wp\/v2\/media?parent=17098"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.w-t-w.org\/en\/wp-json\/wp\/v2\/categories?post=17098"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.w-t-w.org\/en\/wp-json\/wp\/v2\/tags?post=17098"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}