Last updated on March 25th, 2018 at 05:50 pm
The 2016 Olympics in Rio de Janeiro will be taking place in just over a week. This year, International Olympic Committee is not taking any chances with possible cheating. The IOC Will Monitor Gambling for Possible Cheating using all of the tools at its disposal.
In fact, the IOC has jut confirmed that it has hired London-based firm, Genius Sports. Any unusual gambling trend in this year’s Summer Olympic betting Twill be monitored by them.
Genius Sports which also works to monitor the English Premier League and MLB betting, with their Sports Integrity Service will use their data to make sure that no unusual betting trends take place during the Olympics. They basically take betting data from the regulated and unregulated betting markets and look for any trends like high betting on a certain match or event that could suggest any match fixing. The IOC will then use this data to help them determine if any foul play was involved.
This year, the IOC is determined to take cheating out of the equation, especially after the recent Russian Olympic doping-scandal. In this scandal, 85 Russian athletes and other athletes around the world were banned from participating in the Olympic Games. The Olympic Committee already has its hands full and do not want to add more fuel to the fire with another cheating scandal. Considering that the Rio Olympic Venues are still not fully completed we agree it is a normal reaction.
Expecting Record Gambling
This is the first year that bookies in Vegas will be able to take bets on the Olympics since 2001. This is all thanks to Senator John McCain who had pushed to cancel the prohibition gambling on all amateur sports. However, Nevada is now allowed to take bets on the Olympic due to a regulation changed last year.
This year, online sportbooks are expecting to see around $1 billion in illegal and legal bets on the Olympics worldwide. The numbers may seem high but they are not as the Olympic betting has never drawn a large crowd. Unlike the Super Bowl or the World Cup which usually takes in 50 times more action than the Olympics.
For those who are interested in betting on the Olympics for the first time, make sure to choose a sportsbook that has a reputation for fast payouts and competitive odds like BetOnline.ag which is one of the best sportsbooks on the planet.
According to PricePerPlayer.com, choosing the right sportsbook can make the difference between making a profit and losing your shirt off. This is based on your style of betting and the type of sportsbook bonus they offer. In addition, it also helps to learn about more about sports betting by checking out some sports betting tutorials.