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 banking sector faced DDoS attack planned from abroad
July 24, 2024
The Russian banking sector was exposed to a DDoS attack planned from overseas, the VTB Bank press service told TASS. “The banking sector was exposed to the DDoS attack orchestrated from overseas. A minor share of VTB clients faced individual constraints in operations of bank apps due to the high load on the infrastructure of Internet ...
- Cyberattack closes Jefferson County Clerk’s Office, all motor vehicle branches
July 24, 2024
A cyber attack forced the Jefferson County Clerk’s Office to close its eight branches this week. The attack was first discovered at 2:24 a.m. Monday, said Ashley Tinius, a spokesperson for the office. The office has been working with a private cybersecurity firm and law enforcement to investigate the attack and repair its system, Tinius said. ...
- Telegram Zero-Day Let Hackers To Spread Malware Hidden in Videos
July 24, 2024
Cybersecurity researchers at ESET discovered a zero-day vulnerability that targeted the Telegram for Android app and sent malicious files disguised as videos through chats. The zero-day exploit, dubbed “EvilVideo,” allowed hackers to share Android payloads via Telegram channels, groups, and chats, and make them appear to be multimedia files. This exploit targeted only Android Telegram versions ...
- Stargazers Ghost Network
July 24, 2024
Recently, Check Point Research observed threat actors using GitHub to achieve initial infections by utilizing new methods. Previously, GitHub was used to distribute malicious software directly, with a malicious script downloading either raw encrypted scripting code or malicious executables. Their tactics have now changed and evolved. Threat actors now operate a network of “Ghost” accounts that ...
- Ransomware attack shuts down The Superior Court of Los Angeles County
July 22, 2024
The Superior Court of Los Angeles County will be closed on Monday as they continue to recover from a ransomware attack that happened last week. Because of this, all 36 courthouse locations across LA County will be closed to start the week as work continues on the repair and reboot of network systems that were shut ...
- Cybercriminals quickly exploit CrowdStrike chaos
July 20, 2024
Who loves a global outage? Phishers, fraudsters and all manner of creeps Criminals didn’t waste any time taking advantage of the CrowdStrike-Microsoft chaos and quickly got to work phishing organizations and spinning up malicious domains purporting to be fixes.… Just hours after a faulty CrowdStrike file shut down Windows machines around the globe, reports surfaced of ...