IBIA has welcomed leading sports betting operator, DraftKings, as the newest member of its global network dedicated to upholding the integrity of sports contests.
DraftKings Joins IBIA’s Global Monitoring Network
Daily fantasy and sports betting market leader DraftKings has become a fully-fledged member of the International Betting Integrity Association (IBIA). The partnership is designed to strengthen the brand’s commitment to clamping down on match-fixing and fraudulent betting activities.
DraftKings’ membership adds a significant boost to IBIA’s growing network of partners, featuring over 15 household industry names, who have come together to provide the sports betting industry with a bespoke global monitoring solution.
IBIA’s mission is to create an iron-clad integrity system that allows operators and regulators to share information on suspicious betting activity among each other and intervene quickly in the cases where betting fraud is suspected.
Speaking on behalf of IBIA, CEO Khalid Ali said that the association was delighted to welcome another leading name in the regulated sports betting sector. Ali praised DraftKings’ model of operation which spans not only the domestic market in the United States but has overlays abroad.
DraftKings’ unique platform, which provides a mix of betting and trading solutions, is a unique opportunity to boost IBIA’s already extensive regulatory network in licensed markets, Ali added.
DraftKings Chief Compliance Officer, Tim Dent, welcomed the partnership, adding that his company was committed to upholding the integrity of sports and betting contests.
Protecting clients’ businesses, consumers, and sporting events, in general, is at the heart of the sportsbook’s mission, Dent added. He further continued:
“This agreement provides DraftKings’ private operator sportsbook clients with unparalleled trading and risk management protection.”
IBIA remains committed to collective action, offering a global monitoring solution for upholding the integrity of sports.
However, the organization requires a joint effort by participating members to enforce effective anti-corruption measures and follow up on reports of suspicious activity on markets listed by its members.
Efforts to Clamp Down on Sports Betting Fraud Continue
IBIA has existing partnerships with several sporting and political authorities, including the European Commission, Council of Europe, UN, and International Olympic Committee (IOC). Match-fixing has been a concern for sports contests, but so has legislative action increased against it.
In a recent report, the European Union Agency for Law Enforcement Cooperation (EUROPOL), the watchdog argued that an estimated $141 million worth of match-fixing takes place every year. Match-fixing counter-action has been taken by other established bodies as well.
In September, FIFA released a new mobile app allowing professional athletes to report potential match-fixing anonymously. Meanwhile, IBIA reported around a 65% increase in the overall number of reports concerning suspicious betting activity in Q1 2020.
DraftKings’ entry into the association is an important step forward to tackling sports betting fraud.
It’s worth noting that, under the current agreement, DraftKings’ clients are not considered members of the association, even though they are allowed to “benefit from IBIA’s monitoring and alert platform via DraftKings access to the platform,” the official press release explained.