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:
- Multiple London councils hit by ‘cyber attack’
November 26, 2025
Several London councils have been hit by a “cyber attack” which could have compromised residents’ data. Kensington and Chelsea, Hammersmith and Fulham, and Westminster City councils said they have been responding to a “cyber security issue” since Monday morning. The councils, which share a number of IT systems, added they are working with the “help of ...
- FBI: Account Takeover Fraud via Impersonation of Financial Institution Support
November 25, 2025
The FBI warns of cyber criminals impersonating financial institutions to steal money or information in Account Takeover (ATO) fraud schemes. The cyber criminals target individuals, businesses, and organizations of varied sizes and across sectors. In ATO fraud, cyber criminals gain unauthorized access to the targeted online financial institution, payroll, or health savings account, with the ...
- The Dual-Use Dilemma of AI: Malicious LLMs
November 25, 2025
A fundamental challenge with large language models (LLMs) in a security context is that their greatest strengths as defensive tools are precisely what enable their offensive power. This issue is known as the dual-use dilemma, a concept typically applied to technologies like nuclear physics or biotechnology, but now also central to AI. Any tool powerful enough ...
- US banks scramble to assess data theft after hackers breach financial tech firm
November 24, 2025
Several U.S. banking giants and mortgage lenders are reportedly scrambling to assess how much of their customers’ data was stolen during a cyberattack on a New York financial technology company earlier this month. SitusAMC, which provides technology for over a thousand commercial and real estate financiers, confirmed in a statement over the weekend that it had ...
- From Extortion to E-commerce: How Ransomware Groups Turn Breaches into Bidding Wars
November 24, 2025
Ransomware has evolved from simple digital extortion into a structured, profit-driven criminal enterprise. Over time, it has led to the development of a complex ecosystem where stolen data is not only leveraged for ransom, but also sold to the highest bidder. This trend first gained traction in 2020 when the Pinchy Spider group, better known as ...
- CISA orders feds to patch Oracle Identity Manager zero-day after signs of abuse
November 24, 2025
CISA has ordered US federal agencies to patch against an actively exploited Oracle Identity Manager (OIM) flaw within three weeks – a scramble made more urgent by evidence that attackers may have been abusing the bug months before a fix was released. The flaw, tracked as CVE-2025-61757 and now sitting in CISA’s Known Exploited Vulnerabilities catalog, ...