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:
- AI Agents are here. So are the threats.
May 1, 2025
Agentic applications are programs that leverage AI agents — software designed to autonomously collect data and take actions toward specific objectives — to drive their functionality. As AI agents are becoming more widely adopted in real-world applications, understanding their security implications is critical. This article investigates ways attackers can target agentic applications, presenting nine concrete attack ...
- Harrods becomes latest retailer struck by cyberattack attempts
May 1, 2025
Harrods has become the latest retailer to be targeted by cyberattacks, which have struck Marks and Spencer and The Co-op this week. The luxury department store revealed it has had to take action against similar hacking attempts in recent days. In a statement shared with ITV News, Harrods said: “We recently experienced attempts to gain unauthorised ...
- Email Attacks Drive Record Cybercrime Losses in 2024
May 1, 2025
The FBI’s Internet Crime Complaint Center (IC3) has released its 2024 Internet Crime Report. And it has revealed a record-breaking surge in cybercrime losses across the United States. Last year, total losses reached $16.6 billion, which is a 33% increase from the previous year. Email continues to be the most exploited attack vector, with cybercriminals using ...
- Apple notifies new victims of spyware attacks across the world
April 30, 2025
Apple sent notifications this week to several people who the company believes were targeted with government spyware, according to two of the alleged targets. In the past, Apple has sent similar notifications to targets and victims of spyware, and directed them to contact a nonprofit that specializes in investigating such cyberattacks. Other tech companies, like Google ...
- The Co-op fights attempted hack as M&S cyber attack rages on
April 30, 2025
The Co-op has been forced to shut off parts of its IT systems after it was confronted with an attempted hack. The Manchester-headquartered group has confirmed some of its back office and call centre services have been impacted. However, it added that all its stores, including grocery and funeral homes are trading as usual. It comes ...
- Phishing Domains Associated with LabHost PhaaS Platform Users
April 29, 2025
The Federal Bureau of Investigation (FBI) is releasing this FLASH to disseminate 42,000 phishing domains linked to the LabHost phishing-as-a-service (PhaaS) platform between November 2021 and April 2024. Prior to being disabled by law enforcement in April 2024, LabHost was one of the world’s largest PhaaS providers, offering a range of illicit services for approximately ...