Black Market Sports Betting: 2

The world of sports betting at online casinos world wide is being affected because of the increase in criminal activity. The criminal activity in land based casinos and online casinos is crating a doubt in the people who are normally participating in sports betting for big gaming events like FIFA’s World Cup. A majority of the sports betting revenue collected this year for the companies has been from the ever growing Asian based markets who seem to have not one online casino that is doing poorly. Illegal gambling can reportedly account for a nearly a third of the total revenue that is generated by gambling. The total revenue of gambling world wide is estimated at $350 billion, with a reported 100 billion coming from illegal gambling.
The problem seems to be stemming from the Asian online casino markets. The reason why the Asian markets seem to be the problem is because the European online casinos are already so heavily regulated that it is more likely that the issues are coming from the younger online betting market because of the fact that their regulations are not as strict. The internet can sometimes be a tricky thing. The technology keeps growing everyday which makes new developments in the hacking programs harder and harder to track. The technology provides the betting to be progressively faster than before which means that someone who is trying to cheat at a sports betting website can get in and out and make a lot of money in a very short time.
Online casino investigations have been going on in many realms, but sports betting is the area that is the most legalized and regulated area so it is interesting how all of this is playing out. Online casinos are known around the world for sticking to their guns, the Chief Executive Officer of Sportradar, the bet monitoring firm commented on the topic recently. Carsten Koerl said, "We have had more than 25 UEFA-organised matches in the last two seasons that were very likely manipulated but the investigations are still ongoing. What is needed in Europe is a specific cross-border law for match-fixing so investigators know how to proceed."