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Online sports book Betfair has announced that it will work with the International Olympic Committee to battle corruption during the 2012 Summer Games in London.
The agreement will see Befair and the IOC sharing information regarding suspicious betting patterns, and will allow the IOC to request identities of account holders who bet suspiciously among other details about transactions.
The IOC is also working with the UK Gambling Commission as well as police to crack down on illegal betting syndicates during the games. Previously, UK Sports Minister Hugh Robertson listed betting rings and corruption as the biggest challenge to the integrity of the games; worse even than doping.
"You cannot underestimate the threat this poses, because the moment that spectators start to feel that what they are seeing is not a true contest, that is when spectators stop turning up and the whole thing turns to pieces," Robertson said.
As the world's largest betting exchange, Betfair will utilize a team of integrity experts as well as industry technology to identify suspicious customers which will then be passed on to the IOC.
Speaking about the agreement, Betfair Chief Legal and Regulatory Affairs Officer Martin Cruddance said "The interests of sports governing bodies, like the IOC, and Betfair are completely aligned in wanting to ensure consumers can bet on sporting events in a transparent and secure manner."
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