The Secretary of Sports Betting and Economic Development of Sports at the Ministry of Finance, Giovanni Rocco, stated this Tuesday (18) that the federal government should create a situation room by the end of the year to monitor the sector and prevent sports manipulation. The plan is to have a center that resembles financial market operating desks and government technicians will monitor, in real time, fluctuations in "odds", sports betting quotes, to identify suspicious movements. ? Odds, that is, quotes that reflect the probabilities assigned by bookmakers to the different results of a match, are at the heart of monitoring. The idea is to identify non-standard movements, especially before the start of the games, when large volumes of bets concentrated on a certain result may indicate possible manipulation.
Government will create a situation room by the end of the year to avoid sports manipulation in betting, says secretary
The Secretary of Sports Betting and Economic Development of Sports at the Ministry of Finance, Giovanni Rocco, stated this Tuesday (18) that the federal government should create a situation room by the end of the year to monitor the sector...
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Odds, that is, quotes that reflect the probabilities assigned by bookmakers to the different results of a match, are at the heart of monitoring. The idea is to identify non-standard movements, especially before the start of the games, when large volumes of bets concentrated on a certain result may indicate possible manipulation.
- At the end of the day, bets are quotations of odds.
- So you have the intersection of these statistics and probabilities.
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"There are several monitors. At the end of the day, bets are quotations of odds. What is an odd? It is statistics and probability. So you have the intersection of these statistics and probabilities. When there is a possibility of team A beating team B, the house will pay less on bets on team A and more on bets on team B", explained Rocco. According to the secretary, the structure will work in a similar way to a financial monitoring center, with special attention to behaviors considered anomalous. "It's as if it were a Central Bank room looking at the world's stock markets and anomalous behavior, especially before the match, because the risk is greater. When the game and the sporting activity begin, this is reversed", he stated. The secretary explained that an unusual movement could generate a warning for the authorities and the bookmakers themselves. Sports betting; bet Joédson Alves/Agência Brasil “So if I encounter a situation that is unusual and I see that there is a very large dump of bets, there will be an alert and there are already bookmakers that identify and close the market", said Rocco, during an event about the sector. As a result, the situation room's work will be to cross-check observation with systems provided by betting market integrity entities, allowing data to be compared and suspicious patterns to be identified. According to the secretary, these organizations, financed by companies in the sector themselves, gather and share information from various betting houses around the world with the aim of monitoring the integrity of operations and detecting possible irregularities.