{"id":96185,"date":"2019-01-16T07:47:35","date_gmt":"2019-01-16T15:47:35","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=96185"},"modified":"2019-01-16T07:48:21","modified_gmt":"2019-01-16T15:48:21","slug":"black-market-betting-bad-for-your-health-report-warns","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/black-market-betting-bad-for-your-health-report-warns\/","title":{"rendered":"Black Market Betting Bad for Your Health, Report Warns"},"content":{"rendered":"

Betting on the black market<\/a> is more injurious to health and wellbeing than betting on regulated markets, a new study by the Asian Racing Federation claims.<\/p>\n

\"Black
CITIbet is among Asia\u2019s largest betting sites, which probably makes it one of the biggest online gambling outfits in the world, but it is a black market operation that\u2019s alleged to have links with organized crime. (CITIbet)<\/figcaption><\/figure>\n

The research paper looked at six gambling jurisdictions — Hong Kong, Singapore, South Korea, Australia, New Zealand and South Africa — and found there was evidence to suggest that in all six regions illegal betting was more likely to result in excessive betting — and by extension, problem gambling.<\/p>\n

\u201cThis higher incidence rate of gambling disorder is costly: financially and to society, in issues such as depression, family breakdown and even suicide,\u201d it concluded.<\/p>\n

It also found that black market betting was on the rise in all the jurisdictions, despite their governments\u2019 efforts to stamp it out.<\/p>\n

Majority \u2018at Risk\u2019<\/strong><\/h2>\n

The report notes that while regulated betting operations are required to comply with social responsibility codes as a condition of their licensing, unlicensed operators are under no such obligation and are therefore more likely to encourage irresponsible gambling.<\/p>\n

The greater line of credit open to players engaged with the black market is considered to be a major factor behind depression and suicide.<\/p>\n

\n

Some 78.5 per cent of illegal bettors were considered to at-risk, moderate-risk, or bona fide problem gamblers in Australia, while 59.7 per cent of legal gamblers were adjudged to fulfil the same criteria. In Hong Kong the discrepancy was even starker — 73 percent versus 39 percent.<\/p>\n<\/div>\n

The report also describes the black markets as a haven for money launderers, to which operators can turn a blind eye, or encourage, because they are free of governmental checks and balances. Meanwhile, they can offer higher payout rates which allows dirty money to be laundered at a lower cost.<\/p>\n

Criminal Enterprise <\/strong><\/h2>\n

In many cases, the operators themselves are members of criminal gangs, and so illegal betting — far from being a victimless crime — is funding criminal enterprise. According to the report, triads run the majority of illegal betting sites in Hong Kong.<\/p>\n

CITIbet — one of the biggest betting exchanges in Asia, and therefore the world — licensed or unlicensed — is believed to have links to organized crime.<\/p>\n

\u201cOur message to authorities is not only that illegal betting is a threat to racing and other sports, but also that a less visible threat of money laundering underlines illegal betting and facilitates the growth of transnational organized crime,\u201d said Martin Purbrick, the Hong Kong Jockey Club\u2019s head of security and integrity.<\/p><\/blockquote>\n

\u201cThese issues require government action. If racing administrators do not influence governments and regulators to more effectively combat the illegal betting problem, it could kill the sport,\u201d he added.<\/p>\n","protected":false},"excerpt":{"rendered":"

Betting on the black market is more injurious to health and wellbeing than betting on regulated markets, a new study by the Asian Racing Federation claims. The research paper looked at six gambling jurisdictions — Hong Kong, Singapore, South Korea, Australia, New Zealand and South Africa — and found there was evidence to suggest that […]<\/p>\n","protected":false},"author":36,"featured_media":96188,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[14577,19,20,13592,18943],"tags":[],"acf":[],"yoast_head":"\nBlack Market Betting Bad for Your Health, Report Warns<\/title>\n<meta name=\"description\" content=\"Betting on the black market, as opposed to the regulated markets, increases the risk of problem gambling and therefore depression and suicide, according to report. 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Black market betting also funds organized crime and match-fixing.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/black-market-betting-bad-for-your-health-report-warns\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2019-01-16T15:47:35+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-01-16T15:48:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/01\/citibet-malaysia.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"570\" \/>\n\t<meta property=\"og:image:height\" content=\"248\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Philip Conneller\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@casinoorgphilc\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Philip Conneller\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/black-market-betting-bad-for-your-health-report-warns\/\",\"url\":\"https:\/\/www.casino.org\/news\/black-market-betting-bad-for-your-health-report-warns\/\",\"name\":\"Black Market Betting Bad for Your Health, Report Warns\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/black-market-betting-bad-for-your-health-report-warns\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/black-market-betting-bad-for-your-health-report-warns\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/01\/citibet-malaysia.jpg\",\"datePublished\":\"2019-01-16T15:47:35+00:00\",\"dateModified\":\"2019-01-16T15:48:21+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/58769b72851c8cf117fb58ca150ebf8b\"},\"description\":\"Betting on the black market, as opposed to the regulated markets, increases the risk of problem gambling and therefore depression and suicide, according to report. 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