The betting industry is threatening the Olympics

Gambling has always been a threat to high-level sport. For this reason, many countries still prohibit gambling and also ban sports-related betting.

However, technology is creating opportunities for red-black lovers to overcome the legal framework of each country. Betting companies collect money from players via the internet and credit cards, regardless of the player’s country of origin.

The majority of international betting companies are located in the UK, which is both highly reputable financially and fairly easy to bet. The UK itself saw an opportunity to allow betting companies to run because they could benefit from a global player, but only pay taxes for the UK.

According to the Telegraph of the UK, a sizable fear for the current Olympic Games is gambling that can stain soccer matches and cricket matches around the world.

Telegraph quoted Mr. Tim Payton, a management consultant of Mandate Communications Company, specializing in consulting sports organizations, saying that betting on the sidelines of Olympic competitions could be a big problem.

In the world of tennis, the ATP Tournament recently forced a number of rules to be tightened after some unusual wagering patterns took place during matches.

According to Ladbrokes, a  world-leading betting and game services company, UK companies can make £ 25 million when betting on the Olympics. This is a very large number because unlike betting online at casinos in the US, betting in Asia is mostly illegal.

The main sports focused on by bettors are football, basketball, swimming, and in athletics, the men’s 100-meter run.

Although initially reluctant to admit the consequences of betting, the International Olympic Committee had to increase checks and controls to protect the Games’ rigor.

Beijing marked the first Olympics in which betting was strictly prohibited among athletes. New rules of the International Olympic Committee require athletes to sign a written pledge not to wager during the Olympics.

This new control is now underway, with the International Olympic Committee signed an agreement with Betfair, an internet betting platform, to establish an early warning system to monitor unusual betting patterns and primarily to include in their frameworks.