Money Laundering Through Sports Betting

in Business Risk

A study conducted by the International Centre for Sport Security and the Sorbonne in Paris stated that up to $140 Billion is bet on sporting events by people looking to launder money.

Up to 80 percent of global sports betting takes place on illegal gambling markets, such as offshore books and unlicensed online casinos.

The report stated that a lack of regulation in sports and gambling allows the possibility of match-fixing to take place. According to the researchers, football (American soccer) and cricket were the sporting events most likely to be fixed by gamblers. Tennis matches, basketball, motor racing and badminton were also affected by match fixing.

(Additional illegal gambling statistics and information.)

Source:  “Crime gangs launder $140 billion through sports betting – report,” Reuters, May 15, 2014.

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