News From The Sports Scene

How much is football betting worth?

How much is football betting worth?

According to Darren Small, director of integrity at Sportradar (a betting and sports information analysis firm), "The current estimations, which include both the illegal markets and the legal markets, suggest the sports match-betting industry is worth anywhere between $700bn and $1tn (£435bn to £625bn) a year." Close to 70% of that figure is due to football wagering.

Sportradar has entered into agreements to monitor gambling on roughly 55,000 events a year. They run algorithms over data from 350 bookmakers worldwide in an effort to catch any suspicious wagerin behaviours, odd line movements and other irregularities. The results are narrowed down to about 1% of all events monitored, which might seem low, but which translates to roughly 500 matches every year. That means roughly 500 football games every year are possibly fixed and might be turning in millions upon millions of Pounds in illegal revenues to criminal groups or individuals.

Interpol also has started monitoring matches and sports events on its own via what they call "Operation SOGA" which has performed over 2300 raids globally in an effort to stop match-fixing. They have so far seized over $27 million in cash and are responsible for the closin down of illegal sportsbook operations worldwide, handling over $2 billion in bets.

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