Punters always want to know they’re getting a fair bet on their chosen sport,” Ladbrokes Business Director Mike O’Kane, who will chair the meeting, said on Monday.

IOC President Jacques Rogge said last year that illegal betting is as big a threat to the integrity of sports as doping.

By Matt Scuffham and Keith Weir

UNREGULATED MARKETS

During the London Games, a dedicated area called ‘the IOC and me’ will be set up in the Olympic village to raise awareness of a number of issues including illegal and irregular betting in sport, the IOC said.

O’Kane said regulated betting companies have the systems in place to detect and report suspicious betting activity.

Reuters reported earlier this month that a meeting would be held in London to discuss a range of measures to tackle the threat including a drop-in zone to offer advice to athletes in the Olympic Village during the Games.

Kendrah Potts, the lead lawyer on integrity for the London Games, is also expected to attend.

British company Betfair, which operates the world’s largest betting exchange, has agreed to share information with the IOC during the Games.

The seminar will be attended by major sports betting firms such as William Hill, Betfair and Ladbrokes, the UK’s Gambling Commission, the International Olympic Committee (IOC) and the Department for Culture, Media and Sport.

Despite the efforts of the gambling industry to combat fixing, everyone involved in sport recognizes that the main threat lies in unregulated betting in Asia.

LONDON (Reuters) – Betting industry representatives will meet organizers of the London Olympics on Tuesday to discuss ways to prevent illegal gambling which some officials regard as a bigger threat to the integrity of the Games than doping..

A booth called ‘Betting risk and me’ will allow athletes to learn more about the risks for themselves and for the integrity of sport through quizzes, information kits and videos.

(Editing by Alison Wildey)

However, British bookmakers have noted that the Games are a relatively small market – saying that wagers over the course of the Olympics will probably be on par with an average weekend of English Premier League soccer.

The threat posed by sports betting corruption was highlighted last year when three Pakistani cricketers were jailed after being found guilty of taking bribes to fix parts of a test match against England in London in 2010.

Betting is prohibited for athletes taking part in the Games under a code of ethics running for a month from the opening of the Olympic Village on July 16. The ban applies to other delegation members including coaches, officials and referees.

“When sport is corrupted, and betting used to profit from that corruption, it impacts sport and the legitimate betting industry alike

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Freddie Gregory

Freddie Gregory

For recreational bettors who want to place bet with a single bookie. It is suggested that they should select sport book after comparison of different sport books and that sport book should be selected that is offering lowest margins as compare to others these books are mostly located near to the top of odds comparison.
Freddie Gregory

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