Stamping Out Corruption in London 2012

Posted by: CasinosOnline in Casino News

Betfair and the IOC are looking to partner up in an effort to protect against gambling-related corruption in the upcoming London 2012 Olympic games.

The International Olympic Committee (IOC) has started a partnership with Betfair, the largest online betting exchange, in hopes of making a stand against the corruption possibilities looming over the upcoming games, working tirelessly together to become as prepared as possible.

This partnership has benefitted Betfair, who has been privileged with a signed information-sharing agreement by the IOC. This is however not the first time that Betfair has collaborated with other organisations, having performed similar acts with other governing bodies, helping to lay out framework and share information on suspicious activity and patterns.

IOC President JacquesRogges and sports minister Hugh Robertson have both warned of the potential for betting corruption as a major threat to the successful commencement of the games. Such a threat has prompted specific attention to prevention, with the IOC creating a ‘suspicious betting pattern’ tracking unit. Alongside this, the government has offered and enforcement Gambling Act reforms to all the two forces to share their information together, specifically allowing the Gambling Commission to share info with the Lausanne-based international governing body, Betfair.

Betfair itself is not owned or operated within the United Kingdom. It is based offshore and not licensed by the Gambling Commission, hence the reason for the modification to the Gambling Act in order to facilitate the sharing of information.

Alongside the changes being made by these committees and organisations to monitor the behaviour of betting in relation to the games, the Metropolitan police have also taken a step forward and created specialised units that will also address these issues of gambling corruption. Much like the other bookmakers, Betfair will also be offering a market on every gold medal in competition for.

“The interests of sports governing bodies, like the IOC, and Betfair are completely aligned in wanting to ensure consumers can bet on sporting events in a transparent and secure manner,” stated Martin Cruddace, Chief legal and regulatory affairs officer of Betfair. “If we are to protect the sports we all love then we must continue to work openly and co-operatively, and today’s agreement is a clear example of just that.”

Rogges, last year with The Guardian in relation to betting corruption said that the threat has grown and is now bigger than ever. “It is a world problem and it is a very pernicious problem. With the introduction of broadband, you can bet worldwide,” he said. “The danger is that from illegal betting comes match-fixing and you see more and more attempts to manipulate matches. It is as dangerous as doping for the credibility of sport. It’s only the beginning of a huge battle.”

[Source: The Guardian]