Betting is the act of gambling money on predicting the outcome of a football match, race or any other unpredictable event on football matches has become so common across the world today. Sports betting is a World Wide Phenomena that we all know and also appear in many TV channels daily. Lots of illegal business activities have been carried out in the name of betting. People with betting companies have been fixing matches to make it difficult for the people placing bets make the predictions. This post focuses on the rise of the football betting and the light and the dark side of the betting industry.
As of the year 2014, it was estimated that the sporting betting industry was grossing in between $700 million to $1tn according to Darren Small, the head director of integrity at betting and sports data analysts Sportradar. Football betting being worth about 70% of the total amount. Sportradar is company contracted to monitor all the betting activities done over the 55000 football matches played worldwide. The company carries out an algorithm, and it is able to track suspicious betting activities.
What Do People bet on in football matches?
Unlike in Asia where the betting option are restricted to a limited range, in Europe participants are allowed to bet on various things like a penalty in the first half, the correct score, the score in the first half, corner, a heart trick in the game among others.
Some betting markets are time specific; they require the participants guess whether there will be a card or a corner in the first five minutes.
Sports betting is a World Wide Phenomena
Is Football betting new?
Football betting has lasted for long; it is estimated to be around 90 years old. In the past people used to fill coupons and make predictions of the upcoming match. The coupons were paid and you winning was proportion to the money invested just like how it is done today.
Betting Changes in the recent years
One of the key thing that has revolutionized the football is the advancement in technology, people. The cellular phone penetration, internet accessibility, and live football matches airing have played a great role in the growth and development of the football betting industry. Unlike in the past, people from far away land from where the football match is played can bet on the match being played since they are informed and they can watch the game if they want to.
Different countries have the different law on football betting. For example in Sweden betting is legal but online betting is illegal. Some betting cartel provides favorable odds to attract the public, but they end up fixing matches and thus stealing the money. It is not an easy task to fix matches as they are 22 players in the field, there are others awaiting substitution on the bench referee and a coach, but still fixation happens as some own goals have been detected in the suspected matches. Fixing matches is not a new thing since in the year 1915; seven players were banned in a match that took place at Old Trafford, and Manchester United Beat Liverpool 2-0 and Liverpool were denied a penalty.
Tackling of fixation matches issues
In the beginning of this year around Europol (a European law enforcement agency) said that it was investigating fixation of over 650 matches played worldwide. Most of these matches were played in Europe, Asia, and South America. The agency also stated the origination of the conspiracy is Asia where over 450 individuals were involved. Sports betting is a World Wide Phenomena becasuse at this moment a lot of people already won in sports betting. These individual include club official’s players and referees. The president of a UEFA also called for the establishment of football police to investigate and prevent such illegal activities happening in football matches.