The global sports betting market has seen explosive growth in recent years, fueled by the rise of online gambling platforms, increased internet access and penetration, and the legalization of betting in numerous countries. As of 2023, research showed that the global sports betting market was valued at around $92.1 billion, with projections suggesting it could exceed $182.1 billion by 2030, growing at a compound annual growth rate (CAGR) of 10.3%.
This market includes various betting activities, from traditional sports like soccer and horse racing to esports and virtual games. However, the rapid expansion of the betting industry has also attracted fraudulent activity. Fraudsters actively seek to exploit weaknesses in the bookmakers’ odds-setting algorithms, using automated bots and leveraging advanced arbitrage techniques like surebetting and value betting to secure guaranteed profits. These activities often fall under the radar but can lead to significant financial losses for betting platforms and honest bettors.y.
Read more…
Source: Group IB
Related:
- Russian government hackers said to be behind US federal court filing system hack
August 12, 2025
The Russian government is allegedly behind the data breach affecting the U.S. court filing system known as PACER, according to The New York Times. Citing anonymous sources, the newspaper said Russia “is at least in part responsible” for the cyberattack, without saying what part of the Russian government is behind the hack. The hackers searched for ...
- WestJet says some passengers’ personal information stolen in cyberattack
August 11, 2025
WestJet says some personal data including information about travel documents such as passports was stolen in a cyberattack earlier this year, but credit and debit card numbers as well as user passwords were not compromised. In a note to customers, WestJet says the personal information taken varies from person to person but may include name, date ...
- From ClickFix to Command: A Full PowerShell Attack Chain
August 11, 2025
The FortiMail Workspace Security team recently identified a targeted intrusion campaign impacting multiple Israeli organizations. The adversary leveraged compromised internal email infrastructure to distribute phishing messages across the regional business landscape. These emails initiated a multi-stage, PowerShell-based infection chain that culminated in the delivery of a remote access trojan (RAT), executed entirely through PowerShell. Read more… Source: Fortinet Sign ...
- University of Western Australia suffers major data breach, staff and students locked out
August 11, 2025
One of Australia’s major universities has suffered a data breach, with the password information of thousands of staff and students exposed. The University of WA (UWA) confirmed it was investigating a cybersecurity incident on Saturday night, which involved unauthorised access of password information. Read more… Source: MSN Ness Sign up for the Cyber Security Review Newsletter The latest cyber security ...
- Security flaws in a carmaker’s web portal let one hacker remotely unlock cars from anywhere
August 10, 2025
A security researcher said flaws in a carmaker’s online dealership portal exposed the private information and vehicle data of its customers, and could have allowed hackers to remotely break into any of its customers’ vehicles. Eaton Zveare, who works as a security researcher at software delivery company Harness, told TechCrunch the flaw he discovered allowed the ...
- Massive leak of over 115 million US payment cards caused by Chinese “smishing” hackers
August 10, 2025
A wave of advanced phishing campaigns, traced to Chinese-speaking cybercriminal syndicates, may have compromised up to 115 million US payment cards in just over a year, experts have warned. Researchers at SecAlliance revealed these operations represent a growing convergence of social engineering, real-time authentication bypasses, and phishing infrastructure designed to scale. Investigators have identified a figure ...