The following important worldwide media information about the football betting industry provides us with a better knowledge about the various aspects of this industry, which could help us in decently understanding the industry’s working, its growth, revenue, the scandals and much more. As with any industry, the football industry also has its own share of glories and scandals, each having their own impact on the gaming and as well as the gambling industries.
- Out of the total estimated worth of the sports betting industry, including both the legal and illegal markets, which is somewhere between $700bn to $1tn a year, according to the director of integrity at betting and sports data analysts Sportradar, about 70% of the revenue comes only from the football betting industry.
- The legal matters pertaining to the football betting industry varies widely among various nations, where for example, in Singapore, while online football betting is considered illegal, it is absolutely legal to wager on the football match at ‘pools store’.
- While the popularity of the football game as attracted some serious betting on the significant matches, it also has its dark side that involves ugliest match-fixing scandals, of which in 2013, 58 Chinese football officials were banned due to their involvement in match-fixing practices and in 2006, the famous Italian teams Juventus, Lazio and Fiorentina were relegated, due to their involvement in unethical match-fixing practices and only Juventus was actually relegated after necessary appeals.
- However, strict measures and practices are being enacted and followed to prohibit match fixing and on the same lines, Fifa, the Interpol and football’s governing body announced a 10 year, joint initiative that focuses on educating people to create awareness about the risks of match-fixing practices, through their conferences, workshops, and online tutorials. Also, Fifpro, the worldwide professional footballer’s union, initiated a prevention and awareness education program called ‘Don’t Fix It’, to create the awareness about the dangers of match-fixing and also the ways to reduce the conditions that propagate it.