Macau Periodical Index (澳門期刊論文索引)
Author: Cabot, Anthony
Title: Is sports wagering a good fit for countries with regulated casino industries?
Journal Name: Universidade de Macau : Boletim da Faculdade de Direito = 法律學院學報
Pub. Info: No.43, pp. 201-213
Date: 2018
Link: N/A
Keyword: Sports betting;Casino wagering;Sports integrity;Matchfixing;Competition manipulation;Casino regulation;Insider trading;Organized crime,
Abstract: Sports and casino wagering have common legal elements in that both involve persons entering a wagering contract whereby they agree to risk money for the opportunity to win prizes based on the outcome of an uncertain event.These common contractual elements may appear to warrant the same governmental policy toward each activity,particularly where goverment permits but regulates casino gaming.Casinos,however,pose very different regulatory consideration than sports wagering.A primary policy goal of the regulation of casino gaming is to assure the honesty and fairness of the games offered by licensed casinos.Regulators accomplish this goal bu controlling the activities on the floorof the casino through means such as technical standards for games that assure randomness,review and approval of games before the casino can offer them to the public,auditing of game results,, enforcement of the rules to ensure honest operations, and licensing of game manufacturers and operators.In contract, the uncertain events that determine the outcome of a sports wagering contract do not occur in the casino or typically the jurisdiction where the casino is located.As a result,the integrity of the sports event is outside the control of the governmeng regulator.Therefore, permitting sports wagering poses a risk to jurisdictions reliant on a casino industry because a sports wagering scandal involving its regulated industry could negatively impact consumei confidence in casino industry.A significant question is whether the jurisdiction should espouse sports wagering where the govenment has minimal control over the honerty of the activity including the possibility of match-fixing and other forms of competition manipulation.This article explores the nature of that risk including sports corruption emanating from the massive illegal sports wagering markets in Asia,Central America and the Caribbean and possible domestic and international regulatory measures that the casino jurisdicrion can do to mitigate that risk if it decides to permit and regulate sorts wagering. Paragraph Headings: 1. Establish and Fund a National Sports Integrity Program 2. Define statutory obligations of the stakeholders 2.1. Regulations for Sportsbook Operators 2.2. Data Sharing-Early warning detection 2.3. Reporting 2.4. Know Your Customer Requirements 2.5. Define what bet types that book operators can accept 3. Create a Special Sports Integrity Unit 4. Create Uniform Criminal laws 5. Recognized Extraterritorial Jurisdiction and Extradition 6. Enforce the laws against Illegal sports wagering 7. Be active in cross-border cooperation,
Location: 1/F Zone B, Macau Corner