Illegal Racing Operators Are Threat for the Industry Integrity

The horseracing industry faces a significant challenge from unregulated illegal betting markets, which threaten the integrity of the sport , billions of dollars of money is lost each year via the process of siphoning via wagering on this sport in industry

The most latest report from the ARF’s anti-illegal betting task force revealed that popular gambling operator company Citibet’s operations were equal to roughly 25% of the legal turnover in Hong Kong horse racing.

Perhaps the most worrying aspect of Citibet’s operation is how it allowed punters to bet on horses to lose, similar to legal exchange platforms And created and provided a breeding ground for match-fixing and spot-fixing, compromising the sport’s integrity.

 

[CR7]

The threat posed by unregulated illegal betting markets to the horse racing industry is indeed a major concern that cannot be overlooked. The fact that billions of dollars are being lost annually due to these illegal activities is alarming. The recent report from the ARF's anti-illegal betting task force highlighting Citibet's substantial presence in the Hong Kong horse racing market is particularly worrisome.

Citibet's operation accounting for approximately 25% of the legal turnover in Hong Kong horse racing is a significant red flag. Allowing punters to bet on horses to lose, akin to legal exchange platforms, opens up the floodgates to potential match-fixing and spot-fixing issues. The integrity of the sport is at stake when such practices are prevalent within the industry.

To preserve the integrity and credibility of horse racing, regulatory bodies and authorities must take swift and decisive action against illegal betting operations like Citibet. Stringent measures must be implemented to curb such activities and protect the fairness and transparency of the sport. It is crucial for all stakeholders, including operators, regulators, and bettors, to work together to combat illegal betting and uphold the principles of integrity in horse racing.

 

[Qwert135]

That is correct the actions need to be taken against such setups and the heavy amount of fines should be implied on such group so that they are able to learn their lessons properly actually indeed to be honest