Online Sports News - Betfair to Cooperate with the International Olympic Committee on Anti-Corruption Initiative
12th of January 2012 Author: Glo Wood
Strong opposition to betting corruption
The latest reports inform the public of a deal closed between online betting exchange Betfair and the International Olympic Committee, based on which the betting exchange will share information with the committee during the London 2012 Games.
Apart from the exchange of data about irregular or suspicious betting patterns, through the deal, the IOC gets the right to request the identities of account holders who bet suspiciously, as well as other betting transaction details.
According to Sports Minister Hugh Robertson, "You cannot underestimate the threat this (illegal gambling)poses, because the moment that spectators start to feel that what they are seeing is not a true contest, that is when spectators stop turning up and the whole thing turns to pieces."
On the other side, Betfair specified that it will use technology and its team of integrity experts to ensure that any suspicious betting activity is investigated and information passed to the IOC. In addition, its spokesman revealed that the company utilizes specialised software, which helps identify potentially suspicious transactions.
Martin Cruddace, Betfair's chief legal and regulatory affairs officer on this occasion stated: "The interests of sports governing bodies, like the IOC, and Betfair are completely aligned in wanting to ensure consumers can bet on sporting events in a transparent and secure manner."
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