IBIA Reports Significant Rise in Suspicious Betting Patterns in Q1
The International Betting Integrity Association (IBIA), the sports betting monitoring group, announces it has reported 56 alerts of suspicious betting patterns in the first quarter of 2024. This is an increase of 65% up from 34 alerts in Q4 2023, the preceding period.
IBIA Quarterly Report sees increase in suspicious betting alerts.
LISTEN TO THIS ARTICLE:The IBIA is a membership organization made up of gaming operators and other stakeholders in the industry. The organization comprises over fifty gambling operators, including many tier 1 global businesses, and represents more than one hundred and twenty brands. The membership accounts for a combined betting turnover of more than $300 billion.
Data from the member gaming operators is made available to the IBIA and the organization has vast datasets to monitor and can flag any sporting events that show suspicious betting patterns.
The breakdown of alerts in the quarterly report is spread throughout twenty-one countries and across five continents.
IBIA’s principal goal is to protect its members, consumers and partners, such as sports bodies, from fraud caused by the unfair manipulation of sporting events and associated betting. The association combats this fraud with evidence-based intelligence, principally obtained from its global monitoring and alert system.
More Business News
Football Sees Highest Number of Alerts
The sport of football accounted for the largest number of alerts during the first quarter of this year, the report from IBIA showed there were 43 football events flagged for suspicious betting activities. This translates to a 50% increase from the last quarter in 2023, up from 16 events that were flagged in this period.
This is probably due to football being the largest sport worldwide and enjoying the largest numbers in betting activity and the highest betting turnover figures.
Report Highlights Contrast in Alerts Across Continents
The report from IBIA highlighted the difference in alerts between some of the continents. In Europe, the number of alerts was down to 4 for the quarter, which is a drastic reduction from 17 for the previous quarter.
However, figures in Asia were up and the report indicated that the region accounted for 41% of all alerts for suspicious betting patterns flagged during Q1 in 2024.
Overall the monitoring from IBIA can be seen as having a positive effect on preventing or catching fraudulent activity, as the IBIA Integrity report for 2023 saw a decline in alerts.
RELATED TOPICS: Business
Latest News
Responsible Gambling
Parlays, Pressure, and Addiction - The Risks of Modern Sports Betting
Dec 20, 2024Most Read
Must Read
Interviews
When Helping Others Is a Life-Long Mission - An Interview with Gordon Moody CEO, Monica Shafaq
Dec 17, 2024
Interviews
Review this New Post
Leave a Comment
User Comments
Comments for IBIA Reports Significant Rise in Suspicious Betting Patterns in Q1