Zona de Azar France – France: COI Creates Code to Monitor Betting During the Olympics

France.- July 24, 2024 www.zonadeazar.com On the upcoming Friday, July 27, the 2024 Olympics will begin, taking place in France over the next 30 days. There will be multiple simultaneous competitions involving various events and sports, as well as individual and group competitions. In total, 206 countries will be represented by more than 10,000 athletes during the competition. In 2024, the Olympics will feature a total of 329 events divided into 48 different disciplines, meaning a lot of sports over nearly a month of competition.

With this, speculation is already arising about which country will win the most medals, which athletes will maintain their favorites status to secure medals, and even how many medals Brazil will win in this edition of the Olympics. Such speculations are directly influencing sports betting, which, like other sports, is already available on betting house platforms.

IOC Creates Code to Monitor Betting During Competition

The IOC, the International Olympic Committee, announced the creation of a code aimed at monitoring betting during the competition. Aware of the influence of betting houses in sports, the entity views the emergence of betting houses as a source of income positively; however, it seeks to strengthen monitoring systems to combat fraud and manipulation in the competition.

• “During the Paris Olympics, we will work together with a number of betting operators, associations, and major regulatory betting authorities to exchange relevant information on irregular betting patterns or suspicious betting activities detected that may imply manipulation,” explains Friedrich Martens, Head of the OM PMC Unit.

The IOC has developed some guidelines to protect integrity in sports, such as reporting processes, monitoring, and investigating occurrences of manipulation during competitions, as well as the Olympic Movement Code on the Prevention of Competition Manipulation (OM PMC Code).

The entity also relies on IBIS (Intelligence Betting Integrity System), which since 2014 has gathered information related to sports betting so that all stakeholders in the Olympic Movement can analyze the data and reports presented by the system. In this way, any irregular movements are analyzed with the support of stakeholders in betting houses within IBIS, as well as security agencies like Interpol.

If the system detects any irregular pattern, the IOC may create a disciplinary commission to investigate the facts. Some experts see the Olympics as “a major thermometer to see if the full entry of sports betting will be a boost for the sports business, or if it could open the door to a new type of doping: financial doping.”

Editor: @_fonta www.zonadeazar.com