Why is verification of online gambling games important?

Organized crime has infiltrated the sports betting industry in increasing numbers, and we examine the regulations within the gambling clubs here in this article. Even though the sports betting sector has grown worth billions of dollars, regulators and law enforcement organizations are keeping a closer eye on it. AML controls, such as KYC and identifying your client, continue to be exploited by criminals who want to launder their proceeds of crime. All bets have been removed following recent scandals and record fines. Authorities have stepped up enforcement against sports betting organizations, urging them to conduct thorough due diligence and take extra care to identify and connect with customers within 먹튀검증사이트 .

Bookmakers must have scalable and proven technology to assist them in identifying, managing, and mitigating risks in a fiercely competitive environment where a dangerous wager is just around the corner. Find out more about the sports betting industry and how it is a sure bet to achieve regulatory compliance in the sections below.

An overview of the sports betting industry

Betting on sports is a form of gambling in which the winner is predicted after a wager is made on the event. Football, horse racing, cricket, baseball, and American football, among other sports, have seen a significant increase in popularity in recent years. They generate billions of dollars in revenue through sponsorships, broadcasting, merchandise, and betting because of the tremendous consumer and media interest they generate. Increasing marketing and promotional spending by sports organizations is helping them attract more viewers and spectators as they continue to grow. One of the biggest sponsors in sports is the sports betting industry.

Sports business expansion is having a favorable  effect on the global sports betting market, as expected. According to industry estimates, the sports betting business is predicted to be worth $105 billion in 2019 and over $155 billion by 2024. Sports betting generates 70% of global gambling revenues more than the lottery, casinos, poker, and other types of gambling combined. As far as geographies go, the Asia Pacific and North America are neck-and-neck for market share. Virtual and online betting is growing in popularity and demand, which bodes well for the future growth of sports betting.

a rise in the market for sports betting

Sports type, platform, online, and offline are all used to segment the market. With a market share of over 80%, the online channel dominates the industry. Among these are in-play betting, fixed bets during the event, daily fantasy sports, spread bets, exchange bets, and betting on e-sports. The way sports bets are conducted has been revolutionized thanks to recent technology advancements, such as smartphone apps. However, the hazards associated with this digitalization and transition are more significant.

Sports betting gangs are well-organized.

In the past, organized gangs have been attracted to sports betting. Criminal organizations frequently use gambling as a means of cleaning up their cash. An industry that draws organized crime, drug cartels, and other criminal organizations is rife with money laundering and fraud risks, including embezzlement and corruption. This puts the entire industry in danger. It’s a difficult task to keep up with crooks and stay one step ahead of them.

Organized crime groups frequently use sports betting money to fund other illegal activities such as human, drug, and arms trafficking. Organize crime. Since the early 1900s, the Gambino family has dominated American organized crime. The FBI detained 20 gang members in 2013 on suspicion of participating in unlawful internet sports betting.

Martin Scorsese’s film “Casino” was based on a real-life bookmaker named Frank Lawrence Rosenthal, aka Lefty, who had a strong eye for attractive odds and soon joined the mafia to manage an illegal bookmaking shop. Sports betting is not just a terrific subject for Hollywood blockbusters. Still, it is also undergoing rapid change and posing a more significant threat from organized criminals and money launderers than ever before.

Theft using Money Laundering

Large sums of money can be laundered through sports betting channels, making it a prime target for money laundering schemes targeting the sports business. Money launderers have long used sports betting to move illicit funds, and they have no plans to stop. Despite an estimated annual laundering of over 2 trillion dollars, the police barely confiscate or freeze 1% of these illicit monies and assets.


Sophisticated fraud is eroding the line between it and money laundering. Fixed-odds sports betting fraud includes defrauding bookmakers by fixing results or odds. Fraud can appear in a variety of ways. Gorodetsky faces up to twenty years in jail for defrauding an investment of approximately $10 million and committing wire fraud as well as tax evasion or avoidance, according to the charges filed against him.

Syndicates of bookmakers

Scammers will attempt to persuade you to join a gambling syndicate by using this method. Open a sports betting account and make regular deposits to keep the account active, all of which require fees to be paid upfront. They give you a cut of the winnings if you let them utilize the money in your account to make bets on your behalf.

Betting without a license

Illegal gambling is a significant issue for the government, with nearly $500 billion estimated annual value. Match-fixing, doping, and other illegal actions are part of their business model, which is run by shady criminal organizations. Until they are apprehended, criminals will not answer to the authorities! Even if you manage to shut down an illegal betting organization, there will always be new ones.


In addition to sports betting fraud, cyber-crime is a threat to the industry. Cybercriminals are employing increasingly sophisticated tactics to access networks, servers, and end-users for the first time. These methods include phishing, exploitation of vulnerabilities, and ransomware. From social media hacks that manipulate betting lines to direct attacks on a company’s network and infrastructure, cyber-attacks can cover a broad spectrum of tactics. Criminals stand to make a killing, while bookies stand to lose a lot as a result.