Other Sport

IOC ensures fair Olympic bets

2012-01-12 20:26
London's Olympic Stadium (File)

London - Online gambling exchange Betfair has reached a new agreement with the International Olympic Committee (IOC) to share information on any illegal betting activity during this year's London Olympics.

Betfair said on Thursday it signed a "memorandum of understanding" in London with the IOC to monitor any suspicious betting patterns.

Betfair said it will provide betting markets on all gold medal events during the games.

The company said it will apply its technology systems and team of experts to "ensure that any suspicious betting activity is investigated and relayed straight to the IOC as required."

Martin Cruddace, Betfair's chief legal and regulatory affairs officer, said the company and the IOC "are completely aligned in wanting to ensure consumers can bet on sporting events in a transparent and secure manner."

The IOC, which also had agreements with Betfair at previous games, put systems in place to monitor betting at the 2008 Beijing Olympics and 2010 Winter Games in Vancouver. No illegal activity was reported.

IOC spokesperson Emmanuelle Moreau said the committee has agreements with all betting operators, lotteries, bookmakers and betting exchanges to tackle possible corruption.

"By strengthening its cooperation with operators such as Betfair, the IOC steps up its efforts to protect the integrity of sports competitions through a permanent and efficient system of information exchange," Moreau told The Associated Press.

IOC President Jacques Rogge has frequently cited illegal betting, bribery and match-fixing as being as big a threat to the Olympics as doping.

British Olympic Association chairman Colin Moynihan said in a recent interview with the AP that closer cooperation among intelligence agencies and increased education of athletes is required to protect the integrity of competitions.

"I think it is a really serious issue, particularly for those athletes around the world for whom a bribe of $20 000 is a life-changing amount of money," Moynihan said.

Read more on:    london olympics

What To Read Next


Read News24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.
Live Video Streaming
Video Highlights
Sport Talk

Live scoring

Love 2 Meet
Sport24 on Twitter

Follow Sport24 news on Twitter


With the Absa Premiership in full swing, who will be crowned champions when all is said and done? Will Mamelodi Sundowns defend their title? Or can Kaizer Chiefs, Orlando Pirates or Bidvest Wits mount a serious challenge? Stay glued to Sport24 to find out!

Latest blogs

How excited are you about the upcoming Olympic Games in Rio?

Twitter Follow Sport24 on Twitter

Facebook "Like" Sport24's Facebook page

WIN Enter and win with Sport24!

BlackBerry Stay in the loop on your BlackBerry

RSS Feeds Sport news delivered really simply.

There are new stories on the homepage. Click here to see them.