Betfair to Share Info for London 2012 Olympics

Online sportsbook and gambling operator Betfair will share information on potential issues involving betting integrity at the upcoming London 2012 Olympic Games, after signing a memorandum of understanding with the International Olympic Committee.

Sharing Data

Under the agreement, which was similar to the one the company signed for the Beijing 2008 Olympics, Betfair will share customer and transactional data in the result that suspicious activity is detected in betting on a particular Olympic event.

As Betfair chief legal and regulatory affairs officer Martin Crudace pointed out, it is in the interests of both online betting operators and the IOC to ensure that customers can bet on sporting events in a transparent and secure manner. He said the agreement with the IOC would help "protect the sports we all love."

A Betfair integrity team situated in London will monitor the company's high-speed computer systems around the clock for suspicious activity. The IOC will also be given access to a system which shows real-time details of bets, from the moment they are placed to the moment the event finishes.

Biggest Olympics Ever

Most online sportsbooks are already predicting that the London 2012 Olympics will be the biggest ever. Like its competitors Betfair is providing markets on every gold medal being competed for in every different sports, in addition to a wide range of other markets such as how many gold medals selected countries will win.

Team GB Specials already see Great Britain listed at 3.1 odds to win 26 gold medals or more. The more specific categories of 23-25 and 20-22 are paying 4.3 and 4.1 respectively, while the possibility of winning only 19 gold medals or less is paying 3.4.