Illegal betting on sports may approach $1.7 trillion annually and is often used by criminals to launder money, according to a new report from the United Nations Office on Drugs and Crime.

According to the comprehensive 28-page report released last week, the legal sports wagering market is about $40 billion. The increasing number and types of bets are complicating efforts by law enforcement to squash illegal wagering, as is a proliferation of rogue online operators using cryptocurrencies to disguise who is gambling.

The United Nations Office on Drugs and Crime is a United Nations office that was established in 1997. The agency's focus is the trafficking in and abuse of illicit drugs, crime prevention and criminal justice, international terrorism, and political corruption.


From the report:

The growth of the legal online betting market is attributed to rising Internet penetration, increasing mobile phone use, easier access to online gambling, cultural approval and the significant proliferation of corporate sponsorships and celebrity endorsements.
The volume of bets made on illegal and unregulated betting markets is such that it is highly attractive to transnational
organized crime groups as a means of money-laundering. Such groups are also attracted to illegal betting as it offers greater anonymity, greater liquidity and can produce good returns on the money that they invest.

Illegal betting is a major driver of corruption in sport and has a direct relationship with the manipulation of sports
competitions. Illegal betting takes place in both grey and black markets and the licencing framework for grey-market
operators is often opaque, especially in the context of online betting platforms and jurisdictions offering bets on events
taking place in other jurisdictions.

Available evidence suggests that Asia is particularly affected by illegal betting, both in terms of the supply of and demand
for this type of illicit activity. It is also strongly suspected that illegal betting is a growing problem in Africa and
South America, however, information on related trends and developments is limited.
Read the entire report here: https://www.unodc.org/res/safeguardi...ON_2021_S9.pdf