Sports Betting? Yup, just a front for money-laundering!

May 15, 2014 by Ron Andruff   Comments (0)

sports, clubs, fansites

Just read the following in on Sport Business: Illegal sports betting is responsible for laundering $140 billion of dirty money and accounts for 80 per cent of all betting on sport, according to a report produced by University Paris 1 Pantheon Sorbonne and the Qatar-based International Centre for Sports Security.  I'm not the least surprised.  But, this has got to hurt those Premier League teams who wear online betting firm logos on their shirts (for huge sponsorship fees).  Unabashed greed puts owners of those clubs in league with the money-launderers, in my view.  They knew it was dicey when they signed the sponsorship contracts and now the chickens are coming home to roost!  Surprise, surprise...