Organized crime operations use sports betting as a tool for laundering $140 billion worldwide each year, according to a new study by Paris’ Pantheon-Sorbonne University and the Qatar-based International Center for Sport Security.
The review of global sports gambling scandals during the last three years found that soccer is by far the most frequently corrupted sport.
As the Internet spread during the last two decades, the gambling industry has boomed, according to the report, and regulatory agencies have been unable to keep pace.
Researchers estimate that more than 80 percent of the $500 billion global betting market is conducted illegally, with the vast majority (85%) occurring in Europe and Asia.
The report recommends international agreements that provide consistency in the gambling laws and the rules of sports' governing bodies.
In addition, researchers recommend taxes on sports betting to finance investigations into match-fixing and illegal-betting, risk assessment for sports organizations and a prohibition on gambling among players, coaches and sports administrators.
Read the executive summary HERE.