21.11.2009
Monopolies and Bans Foster Fraud and the Black Market
bwin calls for a regulated market to combat the black market and fraud scandals.
Vienna, 21 November 2009. "Monopolies and bans foster fraud, manipulation and the black market," explains Norbert Teufelberger, Co-CEO of bwin, the world's leading listed online gaming company, in response to the current match-fixing scandal in football. "The lack in regulation and insistence on preserving the anachronistic monopolies do not reflect an up-to-date approach in fraud control but actually accomplish the exact opposite: the emergence of an uncontrollable black market," underscores Teufelberger.
The bwin Co-CEO renewed his fervent call for a long overdue regulation of online gaming in Europe. "Monopolies are unable to accommodate the requirements of today. Bans are counterproductive. Alone a regulated market with reputable providers can better forestall such fraud scandals.“
Under a viable regulation, the state would be able to satisfy its public policy mandate and, in awarding licenses, issue strictest gamer protection criteria, money laundering guidelines, etc. and monitor compliance with these among the licensees.
The internet warrants higher security
In the internet, security standards and control mechanisms of the highest order can be implemented. As founding member of the European Gaming and Betting Association, bwin helped creating the first mandatory code of conduct for private online gaming operators. This code sets out a close-meshed system of control measures which are all the more efficient than in traditional gaming due to the internet's transparency. Owing to mandatory registration, the providers know their customers, can keep a tab on the customers' behaviour and become active promptly in case of suspicious activity.
Early detection of conspicuous betting activities
bwin, in collaboration with other leading online providers, founded the European Sports Security Association (ESSA) as early as 2005 in order to identify as early as possible any conspicuous betting activities and insider betting in various sports. The ESSA's early warning system allows the ESSA to closely examine any suspicious betting activities and report to the responsible associations.