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:
- FBI investigating attempts to hack Biden-Harris and Trump campaigns
August 12, 2024
Federal investigators are looking into whether Iranian hackers targeted individuals associated with the Trump and Biden-Harris campaigns, three people familiar with the investigation confirmed to CBS News. The FBI launched the probes in the early summer, after both presidential campaigns experienced attempted phishing schemes targeting people on the campaign, the sources said. Iran-backed cybercriminals are the ...
- EU’s Breton says Musk must comply with EU law ahead of Trump interview
August 12, 2024
EU industry chief Thierry Breton told billionaire Elon Musk in a letter on Monday he must comply with EU law ahead of Musk’s interview with U.S. presidential candidate Donald Trump on social media platform X. The interview, scheduled for 8PM Eastern Time (0000 Tuesday GMT), will also be accessible to users in the EU, Breton wrote, ...
- Ongoing Social Engineering Campaign Refreshes Payloads
August 12, 2024
On June 20, 2024, Rapid7 identified multiple intrusion attempts by threat actors utilizing techniques, tactics, and procedures (TTPs) that are consistent with an ongoing social engineering campaign being tracked by Rapid7. The initial lure being utilized by the threat actors remains the same: an email bomb followed by an attempt to call impacted users and offer ...
- 5G network flaws could be abused to let hackers spy on your phone
August 12, 2024
5G basebands could be exploited by attackers to allow them to send fake messages to your contacts, or even hand over your credentials using a very real-looking website, experts have warned. Unveiled at the Black Hat cybersecurity conference, a research group from Pennsylvania State University presented their vulnerability sniffing tool 5GBaseChecker. Read more… Source: MSN News Sign up for ...
- Indirect prompt injection in the real world: how people manipulate neural networks
August 12, 2024
Large language models (LLMs) – the neural network algorithms that underpin ChatGPT and other popular chatbots – are becoming ever more powerful and inexpensive. Systems built on instruction-executing LLMs may be vulnerable to prompt injection attacks. A prompt is a text description of a task that the system is to perform, for example: “You are a ...
- Swiss-based Schlatter says IT network affected by cyberattack
August 12, 2024
Engineering company Schlatter Industries’ IT network was attacked with malware on Friday and it can be assumed this was a professional attack, the Switzerland-based company said on Monday. The group was hit on Friday by a cyberattack using malware, and the unknown perpetrators were attempting to “blackmail Schlatter”, it said, disclosing no further details. The group ...