Global Upfront Newspapers
CoverLifeNews

$1.7 trillion spent on illicit gambling annually, says UNODC

The United Nations Office on Drugs and Crime (UNODC) said about $1.7 trillion “is wagered on illicit betting markets each year.”

The UNODC gave the estimate in the “Global Report on Corruption in Sport,” a playbook to effectively tackle crime and corruption in sports by setting out a range of concrete policy considerations, also revealed the staggering scale, manifestation, and complexity of corruption and organised crime in sport at the global, regional, and national levels.

The report developed in partnership with nearly 200 experts from across governments, sport organisations, the private sector, academia, and related stakeholders.

While corruption in sport was not a new phenomenon, it pointed out that fraudulent activities in the running of sports institutions and competitions had been documented from the time of the ancient Olympic Games, adding that the past two decades had witnessed a substantial increase in criminal activities within the area.

“Indeed, globalisation, a huge influx of money, the rapid growth of legal and illegal sports betting, and technological advances transforming the way sport is played and consumed are making it increasingly attractive to criminal networks seeking to exploit sport for illicit profit.

“It is against this backdrop, the Global Report breaks down an extensive range of issues, analysing the role of illegal betting, competition manipulation, abuse in sport, the susceptibility of major sporting events to corruption, and the involvement of organised crime, among others,” it added.

The report also highlighted the changing landscape of sport and its relation to corrupt practices, the existing initiatives to tackle the problem, issues related to detecting and reporting wrongdoing, as well as how existing legal frameworks can be applied to address corruption within this area.

According to a statement by UNODC on Thursday, the Global Report came out at a pivotal time, with increasing emphasis being placed on anti-corruption efforts within all sectors, including the sporting community.

The report was launched ahead of next week’s biennial UN anti-corruption gathering, the conference of the States Parties to the United Nations Convention against Corruption, being held in Sharm El-Sheikh, Egypt from 13th to 17th December, where the issue of corruption in sport will be discussed.

Designed for both governments and sports organisations, the global report also highlighted the urgent need to strengthen legal, policy and institutional frameworks to prevent and respond to different manifestations of corruption and crime in sport at the global, regional, and national levels.

Advertize With Us

See Also

2023: Chimaroke Nnamani Slams “Obidients” Youths, As Lazy, Under Achievers, Low Live’s, Scoundrels, Demagogues, Mediocre

Global Upfront

Peter Obi Salutes The Guardian @40, Recalls Their Huge Sacrifice For Democracy

Global Upfront

Insecurity: House Moves to Repeal 58-year-old Defence Industries Corporation Of Nigeria Act

Global Upfront

Nigeria now has 224 confirmed COVID-19 cases, 27 discharged, 5 dead

Global Upfront

Weight Loss: 5 Reasons Why Belly Fat Won’t Go Away Easily

Global Upfront

U.S. Says Support For Israel ironclad As IRGC Says Strike In Response To IDF Attack On Consular Compound IN Damascus

Global Upfront

Northeast Governors Meet on Regional Security

Global Upfront

Israel-Hamas War: How Palestinian Militants Misled Israel For Months And Caught The Middle East’s Most Powerful Army Off Guard

Global Upfront

FIFA World Cup Qatar 2022: Anger Over Last-minute Beer Ban As Sponsors, Fans Express Surprise, ‘Well, This Is Awkward’

Global Upfront

EFCC Says Arrested NAF Officers To Be Charged To Court For “Internet- related Fraud Activities”

Global Upfront

This website uses Cookies to improve User experience. We assume this is OK...If not, please opt-out! Accept Read More