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:
- Ireland: Almost 7,000 Government data breaches over last ten years
October 30, 2024
There have been 6,885 data breaches across Government departments over the last ten years. More than half of the breaches, 3,637 of them, occurred at the Department of Social Protection. The Department of Justice accounted for 862 of the breaches, with 757 breaches reported at the Department of Foreign Affairs. The majority of the data breaches ...
- China drafts ‘quantum-proof’ protocol to defend against advanced cyber attacks
October 30, 2024
Scientists from China are aiming to create a communication protocol which can help protect traditional encryption methods from quantum computer attacks. Chinese scientists recently presented a draft document at an internal event held in Sweden which showed their attempts at making a ‘quantum-proof’ communication protocol. Once ready, the protocol will help agencies and governments across the ...
- The Importance of Asset Context in Attack Surface Management.
October 30, 2024
This is the last of the four blogs (Help, I can’t see! A Primer for Attack Surface Management Blog Series, The Main Components of an Attack Surface Management (ASM) Strategy, and Understanding your Attack Surface: Different Approaches to Asset Discovery) covering the foundational elements of Attack Surface Management (ASM), and this topic covers one of ...
- Scammers Exploit 2024 US General Election to Perpetrate Multiple Fraud Schemes
October 29, 2024
The FBI is warning the public about scammers exploiting the 2024 US General election to perpetrate multiple types of financial fraud schemes. These scams target victims across the United States and have previously exploited state and local elections for similar scams. Scammers use the names, images, logos, and slogans of candidates to fraudulently solicit campaign contributions, ...
- Midnight Blizzard conducts large-scale spear-phishing campaign using RDP files
October 29, 2024
Since October 22, 2024, Microsoft Threat Intelligence has observed Russian threat actor Midnight Blizzard sending a series of highly targeted spear-phishing emails to individuals in government, academia, defense, non-governmental organizations, and other sectors. This activity is ongoing, and Microsoft will continue to investigate and provide updates as available. Based on our investigation of previous Midnight Blizzard ...
- France: Free ISP announces data breach, millions of users possibly affected
October 29, 2024
One of the biggest internet service providers (ISP) in France has confirmed suffering a cyberattack that saw it lose sensitive customer data. A threat actor alias “drusselx” opened a new thread on the infamous Breach forums, advertising a major database for sale, claiming it contains data on 19.2 million Free customers, and holds more than 5.11 ...