The expansion of the betting industry is taking place at a rapid pace across the planet. In the United States, states that already have regulated markets are breaking monthly records and the other regions are working to approve their rules and join this segment soon. In Brazil, the situation is also progressing and the government’s forecast is to finalize the regulatory process in time for the World Cup.
Therefore, the International Olympic Committee (IOC) is moving to monitor more closely this growth in the betting market. The advance of online betting makes the entity need to monitor all developments in order to protect the integrity of the Olympic world.
The IOC’s engagement leader with the National Olympic Committees, Lenny Abbey, represented the IOC during the Brazilian Olympic Congress, promoted by the Olympic Committee of Brazil (COB) in the city of Salvador, Bahia.
In an interview with GE.com, Abbey said that research was being carried out to ensure fair play. “They are growing (bookmakers) more and more. And it’s an area that until recently wasn’t paid attention to,” said Lenny Abbey.
IOC teamed up with betting companies before the Winter Games
Before the start of the Tokyo Olympics last year, the International Olympic Committee carried out a survey to understand the full impact of sports betting on the Olympic movement. “The IOC has taken a series of measures,” said Abbey.
Among the measures cited by Abbey, the entity decided to strengthen its relationship with companies in this market. This year, on the eve of the Beijing Winter Games, the IOC teamed up with international bookmakers with the aim of increasing oversight and avoiding possible manipulation of results.
Sustainable olympics
The IOC member participated in the Congress in Salvador to detail the 2020+5 Agenda, a document that brings together points approved by the entity in 2021 to guide the Olympic movement until 2025. This is because the International Olympic Committee is focused on promoting more responsible and sustainable competitions.
“We have a responsibility: to hold events in a sustainable, responsible way. Sustainability is a reality in the world”, concluded Abbey.
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