Summary: With sports betting in full swing, gaming operators have created a new monitoring association to help with betting fraud and identity theft issues.
After a ruling by the United States Supreme Court in mid-May involving federal regulation of sports betting, the industry was opened up to all states in the US. Casino gaming operators were eager to get started in offering the new activity both online and offline within sportsbooks. Several states began offering services very soon after the ruling and even more are set to begin offering services by next year. Because of the need for regulation and monitoring, top gaming companies Caesars Entertainment and MGM Resorts have announced the formation of a new monitoring association dedicated specifically for the sports betting industry.
The two companies have come together to create the Sports Wagering Integrity Monitoring Association, a non-profit organization. The group will be working with regulators as well as law enforcement and stakeholders in the industry to help cover identity fraud as well as betting fraud. The organization will work as a collaborator with state as well as tribal gaming regulators along with federal law enforcement and state and local groups, etc. to ensure that fraud is detected and discouraged in the new industry.
The group will also focus on monitoring illegal activity as well as unethical behavior taking place in the sports betting industry involving events. The main goal of the group is to protect consumers as well as operators and other stakeholders of the industry. SWIMA hopes to be able to protect the industry from fraudulent behavior caused by the manipulation of events that are involved in betting.
According to the group, they must take a multi-jurisdiction approach, working with operators located in states around the US as well as within tribal jurisdictions to ensure the integrity of the industry. The Chief Integrity Officer of the group is George Rover, the former AG of New Jersey as well as the Deputy Director of the state’s Division of Gaming Enforcement. As the new CEO, Rover will be acting as the overseer of the daily operations.
Rover stated that the new group is ready to roll out, ensuring the safety and security of the betting environment for consumers in the United States. SWIMA is looking forward to creating partnerships with regulators as well as law enforcement in every state where sports betting is legalized to stop fraud and manipulation, working to protect sports betting’s integrity.
How the Group Works
SWIMA will work with states so that every operator can detect any unusual or suspicious activity. Operators will have to report such behavior and the group can work to alert the entire gaming industry of any incidents such as match fixing or fraud. Having a system in place that everyone can work together with can help the sports betting industry succeed.
The American Gaming Association has shown their support for the new association with the group stating that the new organization is yet another milestone toward the US realizing the benefits of legal and regulated sports betting in the nation.
Over the new few months, it will be interesting to see how the new organization will be implemented into the current sports betting landscape. Hopefully, the new organization will be able to be a driving force to help the industry maintain integrity and provide consumer protections as the industry continues to grow and expand, in other states as well as into the online sector.