It’s not the first time AGCO has suspended a league or game over “insider” considerations
Ontario’s online sports regulator has banned operators from taking action related to certain boxing matches, raising concerns about “insider trading” at those events.
The Ontario Alcohol and Gaming Commission (AGCO) said Thursday that it is not easy for all sports venues under its supervision to promptly prevent offering and accepting World Boxing Association (WBA) events.
“This action is being taken to protect the public from Ontario bettors following the finding that WBA-sanctioned boxing bouts are not adequately protected against match-fixing and in-house betting,” the watchdog said in a press release.
The AGCO said it has been engaged in allegedly suspicious betting activities on a WBA-sanctioned name fight in Florida between Yoenis Tellez and Livan Navarro since it occurred in December. Notably, the AGCO said “suspicious betting patterns” related to duration had emerged. of combat, with cash on more than 5. 5 spins.
These bets were reported to AGCO through two independent integrity monitors, the regulator said, and were also detected in the province through a sports operator. AGCO pointed to media reports that Tellez’s manager bet $110,000 on an attack that lasted more than 5. 5 rounds at a Florida casino; Tellez would win by knockout in the tenth round.
The Wall Street Journal reported that Tellez’s manager first tried to bet $500,000 on the game, but an executive at the Seminole Hard Rock Hotel in Hollywood rejected the request, leading to a smaller but still significant bet. The $500,000 bet was a joke.
Hard Rock, however, reportedly pulled the bout off the board and informed the U. S. surveillance firm of the integrity of the situation. On Thursday, AGCO said that after conducting its “intensive” review, it had concluded that the WBA did not meet its criteria for iGaming.
“Registered gambling operators have failed to demonstrate to AGCO that the WBA prohibits in-house betting, which can come solely from coaches, managers, handlers, sports coaches, medical professionals, or others with access to private information,” the regulator said. In addition, registered gambling operators have been unable to demonstrate that the WBA has taken steps to investigate or enforce allegations of potential match-fixing and internal betting. “
This is not the first time AGCO has suspended a league or game due to integrity concerns. The regulator took a similar step in December 2022, when it ordered Ontario Sports Betting to prevent accepting bets on UFC occasions due to issues with combined martial arts. Arts Organization Policies on In-houseArray.
The UFC then replaced its regulations and the AGCO later reinstated the sport.
The WBA would possibly want to do something similar to get back on AGCO’s books and back into the legal gambling betting menu in Ontario. “Integrity safeguards are in place and enforced through an effective gaming governing body,” said Dr. Harris. Karin Schnarr, registrar and executive director of AGCO, in a report. “Knowing the popularity of boxing in Ontario, we look towards the reinstatement of betting in the WBA. “occasions once appropriate safeguards against possible match-fixing and in-house betting have been confirmed. “