Betfair
Betting exchange and online casino operators Betfair have announced the details of an agreement which will see them help the International Olympic Committee.
The Hammersmith-based company has agreed to share the wagering information during the tournament so that any questionable betting patterns can be investigated and stamped out.
Betfair aren't actually the first gambling company to assist large sporting events in determining any odd betting patterns. Other UK based companies do so through the Gambling Commission but as Betfair is licensed offshore it was not included in this agreement.
To highlight just how seriously betting corruption is being taken at this year's Olympics, a report in the Guardian divulged information on a specialist unit set up by the Metropolitan Police tasked specifically with dealing with the issue.
The importance of Betfair's inclusion is high as they are one of the very few bookmakers to be offering betting markets on every single gold medal on offer at the Olympics.
Betfair's chief legal and regulatory affairs officer Martin Cruddace explained that the company entered into this agreement in order to make wagering safer for their customers.
He explained: "The interests of sports governing bodies, like the IOC, and Betfair are completely aligned in wanting to ensure consumers can bet on sporting events in a transparent and secure manner."
