BetPARX recently joined the International Betting Integrity Association (IBIA). It is the latest of several North American sportsbooks to do so. Joining will be an advantage in helping it to support the integrity of sports betting.
What is the IBIA?
The IBIA is a not-for-profit association with members who have a common goal of combating betting corruption. They want to protect the integrity of sport and their businesses. Members have to undergo a due diligence process and adhere to a code of conduct that commits them to responsible betting practices.
betPARX is IBIA’s latest North American member
The Kambi platform for betPARX sports betting will benefit from the association with IBIA. It will ensure that all sporting event data is reliable and credible with a high level of accuracy. Matthew Cullen, SVP of Interactive Gaming and Sports, said working with these industry leaders will help them to promote higher standards of integrity in sports betting.
The association is looking forward to working with betPARX and integrating it within its global sports betting integrity network. IBIA and betPARX will work together in various initiatives to reduce betting-related corruption.
Building alliances and anti-corruption monitoring
According to the IBIA website, building alliances is at the core of its approach. IBIA’s portfolio in North America consists of more than 45 companies and 125 sport betting brands. It also has partnerships with many leading sports bodies and gambling regulators.
The IBIA Monitoring and Alert Platform is an effective anti-corruption tool. It can detect and report the suspicious betting activity with a system that can track transactional activity linked to individual consumer accounts.
Alerting, investigating and sanctioning
The IBIA issued 39 alerts of suspicious activity in the U.S. between 2017 and 2021. Its annual statistics for 2022 show it was successful in sending 268 alerts to relevant authorities. There were 15 players, officials and teams that received official sporting or criminal sanctions.
Sports betting has exploded into a multi-dollar industry, and many cases of corruption probably go undetected and unreported. The association helps with investigating, prosecuting and sanctioning parties involved in activities such as match-fixing. Aside from federal laws prohibiting match-fixing, laws banning illegal activity vary from state to state. This can make monitoring integrity difficult.
IBIA heightens awareness about the main sources of corruption in betting on sports and how to confront them. For example, many incidents involve the misuse of insider information. The IBIA follows a data-driven approach to inform policies. It has helped to establish integrity oversight measures in the U.S.
Reporting suspicious activity
betPARX is currently licensed to offer sports betting in five U.S. states. It is aiming to expand its reach, and joining the IBIA will protect the integrity of its operations.
Those who participate in legal sports betting have expectations that it comes with fairness. Sportsbooks have the financial motivation to report suspicious activity. They may invest significant amounts in getting their lines right, but they will lose money if they are victims of corruption. Their reputations can take a knock if suspicious activity comes to light.