Casinos.co.uk: Casino News Archive
Thursday 22nd January 2004
Uefa.com and Betfair.com crack down on illicit gambling
Betfair.com.com, which claims to have a market share of 90 percent of UK’s Internet betting exchange market, is taking measures to crack down on what it calls ‘illicit gambling’. The betting operator has reportedly signed agreements with the Jockey Club, the ATP in men's tennis and the International Cricket Council (ICC).
UEFA.com - European football's governing body also is in the final stage of signing an agreement or ‘memorandum of understanding’ (MOU) with Betfair.com, which will allow it access to evidence of potential corruption in the game. According to the agreement, UEFA will be given access to Betfair.com’s betting records of individuals whose behavior leads to a suspicion that corruption has taken place.
Industry observers believe, such agreements will represent a significant step in football's attempts to curb illegal betting, besides aid UEFA to investigate corrupt practices such as match fixing and insider betting. A spokesperson for Betfair said, ‘We cannot comment on the UEFA agreement, but we’re willing to governing bodies in any sport and work close with their administrators, and allowing them access to the information we have, is the best way to ensure that sport is kept free of crime.’
By signing agreements with various sports and racing governing bodies, essentially Betfair.com, would provide access to the governing bodies, when investigation arises its audit trial hand over its audit trail, which includes betting and bank account details, the bettors Internet or IP addresses, which could make the legal process much faster.
In a short span of time, online betting exchanges have reported the fastest growth area in gambling. Typically, such internet-based exchanges match bets between customers, allowing them to bet on events, and in a broader sense act like online bookies laying prices for other punters. While betting is a common, the practice of laying prices and influencing horse racers or athletes to lose is creating wide spread concern, that abuse is setting into the system, with the industry questioning the difference between integrity and income.
Along with Betfair other online betting exchanges like Betdaq.com and Sporting Options are expected to give evidence to the joint parliamentary committee on the Gambling Bill this week.
Source:OnlineCasinoNews
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