The software mentioned is called Suspicious Betting Reporting Mechanism (SBRM), has already been introduced and was the first to be made available to sports betting providers. It is important to note that this only includes sports betting providers with an official, valid sports betting license.
MGA sets a tight deadline
The Maltese supervisory authority said that the providers have until January 2021 to integrate the software into their structures. What that means exactly has not been defined.
What is known, however, is that the MGA has not given the respective sports betting providers a say and has imposed the use of the software on them, so to speak, within a very short time, with the task of implementing it quickly. The supervisory authority assisted the actors with instructions for use from SBRM, but the main responsibility for the technical takeover was placed in the hands of the bookies. There is not much time left until the beginning of next year to complete the integration and to have the software integrated in all its functions by the mandatory date.
Once this process has been completed, the identification of illegal activities can begin. If this is the case, the providers are obliged to forward the information to the MGA. In addition, any fraudulent activities must be reported to the Maltese authorities at regular intervals of 6 months. The aim of minimizing betting fraud is to be achieved as quickly as possible.
An interesting regulation of the fraud controls concerns the observation of athletes: Active athletes are excluded from betting on events, tournaments or games in which they participate themselves. We already reported on such a case at the beginning of November: the Bulgarian tennis players brothers Karen Khachatryan and Yuri Khachatryan were banned from the Tennis Integrity Unit for manipulating bets, illegal game agreements and corruption.
Collaboration with IBIA
For a further, even more secure course of action against betting fraudsters, the MGA is to work with other supervisory authorities, such as the International Betting Integrity Association (IBIA). The IBIA is the world’s leading supervisory body for the licensed betting provider industry. This is the only way to take an even bigger step against illegal betting.