What Betfair brought to gambling was transparency. It has agreements with 32 sports governing bodies and is seeking more, promising to share in real time any unusual betting activity.
“We can tell you every single bet ever placed and who made it, from what funds and where those funds are going,” said Mark Davies, a Betfair managing director and a former bond trader. “It is a complete audit trail, and we want to share it with the governing bodies of sport.”
But many sports governing bodies have refused Betfair’s offer, Mr. Davies said, including the
International Olympic Committee. During the 2004 Summer Games in Athens, Betfair matched $80 million in wagers on Olympic events. A spokeswoman for the I.O.C., Emmanuelle Moreau, said that the committee had taken proactive measures to address gambling threats. She also said it expected to have a system in place to be alerted to irregular betting before the Beijing Games in August.
“I have been told by one sport that they did not want to sign an agreement because they did not want to know the level of corruption that existed,” Mr. Davies said. “But it exists, and we’re just showing what has always been there.”