London: British bookmakers will be monitoring unusually big wagers placed on minor sports during the London Olympics to help prevent fixing scandals from blighting the Games, a senior industry figure said on Tuesday.
Betting industry representatives and Games organisers held a seminar in London to discuss strategies to help ensure that illegal gambling syndicates do not corrupt athletes.
"If I see a bet of more than 50 pounds I`ll be looking at who it is, because I`m not expecting 50 pounds on weightlifting or badminton," said Mike O`Kane, Business Director at British bookmaker Ladbrokes which chaired the meeting.
Concerns centre on back-street bookmakers based in Asia who have been linked to high-profile fixing scandals in cricket. Corruption has been cited as posing as serious a threat to the Olympics as doping.
"Where the issues are if there are any issues will be illegal betting out of Asia," O`Kane said.
"What we`ve got to do is make sure that that market isn`t able to influence a participant and that is something the IOC (International Olympic Committee) has got to get hold of," he added.
Athletes and officials are banned from betting on events during the Games. The IOC plans to set up an information booth in the Olympic village to warn athletes of the risk of gambling.
"You`ve got to ask yourself the question if you`re an Olympic participant are you going to risk all of the kudos of representing your country and for what financial gain." O`Kane said.
Operators would not take bets that risked undermining the IOC, he added.
"We will not offer bets that are likely to threaten the integrity of the Games so we`re not going to offer, for instance, bets on how many failed drugs tests there will be or markets that clearly are likely to lead to integrity problems."
The British betting industry says that the Euro 2012 soccer tournament in June is a much bigger event for it than the Olympics.
"The average person on the street loves the Olympics, it`s a great spectacle but it`s not really a betting medium. It`s something to enjoy on the television with the family or go to the Games," O`Kane said.
Bureau Report
By clicking “Accept All Cookies”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.
Cookies Setting
By clicking “Accept All Cookies”, you agree to the storing of cookies on your device and the processing of information obtained via those cookies (including about your preferences, device and online activity) by us and our commercial partners to enhance site navigation, personalise ads, analyze site usage, and assist in our marketing efforts. More information can be found in our Cookies and Privacy Policy. You can amend your cookie settings to reject non-essential cookies by clicking Cookie Settings below.
Manage Consent Preferences
Strictly Necessary Cookies
These cookies are necessary for the website to function and cannot be switched off in our systems. They are usually only set in response to actions made by you which amount to a request for services, such as setting your privacy preferences, logging in or filling in forms. You can set your browser to block or alert you about these cookies, but some parts of the site will not then work or you may not be able to login.
Functional Cookies
These cookies enable the website to provide enhanced functionality and personalisation. They may be set by us or by third party providers whose services we have added to our pages. If you do not allow these cookies then some or all of these services may not function properly.
Targeting Cookies
These cookies may be set through our site by our advertising partners. They may be used by those companies to build a profile of your interests and show you relevant adverts on other sites. They are also used to limit the number of times you see an advert as well as help measure the effectiveness of an advertising campaign. They do not store directly personal information, but are based on uniquely identifying your browser and internet device. If you do not allow these cookies, you will experience less targeted advertising.
Performance Cookies
These cookies allow us to count visits and traffic sources so we can measure and improve the performance of our site. They help us to know which pages are the most and least popular and see how visitors move around the site. All information these cookies collect is aggregated and therefore anonymous. If you do not allow these cookies we may not know when you have visited our site, and may not be able to monitor its performance.