Volume: 9 Issue: 10
Great Britain's Gambling Commission launched a consultation on 7 October investigating whether using inside information for betting constitutes misuse of that information, and whether further safeguards are needed to protect sport's integrity.
Whilst recognising that Sports Governing Bodies (SGBs) and betting operators are 'the most appropriate' bodies to regulate this area, the consultation will clarify when Commission powers to void bets under Section 336 of the Gambling Act 2005 can be used. 'The Commission may implement changes in its approach to investigating cases of potential misuse of inside information and applying sanctions, such as voiding', reads the consultation.
Whilst recognising that some sports rely on participant betting, the consultation will consider whether sport should do more to disclose participant betting and/or 'sensitive information' to the public, and whether disclosure of inside information for 'reward or gain' should be prohibited. It also suggests that sport should ban betting via agents or third parties, a method sometimes used by sport participants. Responses must be received by 11 January 2012.