(The story corrects tense of transform in paragraph three). The ubiquity of mobile phones and tablets has helped transform bookmakers from operators of dingy, smoke-filled betting shops into multi-billion dollar de facto tech firms, pouring resources into developing apps and complex algorithms and marketing to younger and broader demographics.
That range of figures, which includes betting on sports from football, cricket and tennis to much less widely followed sports like snooker, darts and table tennis but excludes racing, illustrates the difficulty in accurately valuing the overall market. “People are also dealing in credit, and therefore accounts are being run all over the world. There have not been any allegations of wrongdoing by the bookmakers in the World Tennis scandal.
(Writing by Matt Siegel; Editing by Lincoln Feast)
Mobile apps that allow in-game betting on individual points or games allow athletes to stealthily manipulate the results and may strike some of them as less unethical as throwing an entire match, said Sally Gainsbury, a senior lecturer at Southern Cross University who has written a book on the subject. in every country, where it’s actually just not possible for the government to regulate these sites that are based in all these tiny remote jurisdictions,” she told Reuters.
In Australia, for example, 2001 laws regulating Internet sport betting bar anyone from placing a bet on a sporting event online once it has begun, despite allowing live betting over the phone or at retail bookmakers.
Patrick Jay, a betting consultant and former sports and football director at Ladbrokes, estimates the global sports betting market is likely worth about $1 trillion a year, having doubled in size in the last five years.
“There’s a large grey sort of offshore market … And we have wall-to-wall sport every day of the week from across the globe beamed into our lounge rooms, on our smartphones,” said Scott Ferguson, a wagering industry consultant. It allows people to place bets anywhere, anytime,” Jay told Reuters. “Technology is everything.”
“So it’s difficult to get a really accurate size of how much people are betting because a lot of it is actually illegal.”
“There’s been a lot of stagnation where a lot of countries originally said, ‘Well this is illegal, we won’t let them do this’, but of course with the internet you can’t make things illegal and stop people going online,” Gainsbury said.
William Hill, an official partner of the Australian Open, has a new “Bet-in-Play” feature for its Australian customers that requires access to a smartphone’s microphone while the bet is placed to comply with such laws.
Allegations this week that tennis authorities failed to deal with widespread match-fixing has rocked the game, following similar allegations that have blighted cricket, football and other sports.
The Australian government, citing a 2015 United Nations conference at which Jay was a speaker, put that figure as high as $3 trillion, of which 90 percent was “illegal” or in contravention of laws regulating gambling in which the bet was placed.
“A PERFECT COMBINATION”
Worried about the boom in sports betting and incidents of match fixing, countries like Australia and across the European Union are in the process of reviewing laws that experts like Gainsbury say are “hopelessly outdated”.
“It has grown because of mobile technology.
“We’re no longer restricted by geography or the limited choices of one betting company. It has created a perfect combination.”
Most major bookmakers operate from small offshore jurisdictions, making accurate predictions of industry worth extremely difficult, said Gainsbury. He expects it to double again in the next five.
The greatest danger for mobile gambling to intersect with m88 corruption lies in the ease of fixing a one-on-one sport like tennis, darts or snooker, according to experts and professional gamblers.
SYDNEY The rise of mobile betting is transforming global sports wagering faster than regulators can react, flooding the industry with cash and potentially contributing to corruption scandals like the one roiling world tennis, experts and insiders say.
Leading bookmakers including Betfair Group PLC, Ladbrokes PLC, Paddy Power PLC and William Hill PLC did not respond to requests for comment