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Leagues and Governing Bodies

Corruption Concerns Mount As Mobile Betting Fuels Gambling Industry

Experts and insiders say that 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," according to Siegel & Packham of REUTERS. The "ubiquity of mobile phones and tablets has helped transformed 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." Wagering industry consultant Scott Ferguson said, "We're no longer restricted by geography or the limited choices of one betting company. And we have wall-to-wall sport every day of the week from across the globe beamed into our lounge rooms, on our smartphones. Technology is everything." Southern Cross University Senior Lecturer Sally Gainsbury said that most major bookmakers "operate from small offshore jurisdictions, making accurate predictions of industry worth extremely difficult." She said, "There's a large gray sort of offshore market ... 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." Betting consultant and former Betfair Head of Trading Patrick Jay estimates that the global sports betting market is likely worth about $1T a year, "having doubled in size in the last five years." He expects it to "double again in the next five" (REUTERS, 1/20).

SBJ Morning Buzzcast: March 25, 2024

NFL meeting preview; MLB's opening week ad effort and remembering Peter Angelos.

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