Bets on a "fixed" sports event don't stand
Market watch top headlines
February 08 2013, 5:01PM
By Trevor Chappell
MELBOURNE, Feb 8 AAP - Bets placed on a "fixed" sporting event do not stand - in theory.
A partner at Sydney law firm Addisons and a leading specialist in the gaming sector, Jamie Nettleton, said the theoretical and practical outcomes may differ.
"From a theoretical perspective, if there is match fixing and the event is flawed, then essentially the bets don't stand," he told AAP.
"That means that the bets are declared void, and the bets would be returned.
"That's very easy when something happens ahead of time (the corruption is uncovered before the sporting event).
"Where it becomes apparent afterwards, generally, all the money has gone. The event is over, all the winnings have been paid out, and it's very hard in those cases to recover the winnings."
The laying of criminal charges and having them proved was not a necessary precondition to a bet being made void in all cases.
The terms and conditions of some wagers only required a "reasonable view" that the outcome of a match had been corrupted.
It was generally the administrator of the sport who determined the reasonable view.
"They are generally the arbiters of integrity in respect to the sport," Mr Nettleton said.
Bookmakers, generally, also had a "feel" for potentially corrupt bets and could suspend betting.
In a number of cases, Australian licensed bookmakers had provided information about suspect wagering to the sports administrators.
Mr Nettleton said in his opinion Australian sports and sports betting had very stringent measures in place to protect integrity.
He said international co-operation was most needed to stop match fixing.
"That's where the effort really needs to be put. It doesn't matter what regulations, what stronger laws we have here (in Australia).
"Although, it is appropriate to have very strong laws here, it's the money flow and the criminal elements overseas which are going to be behind it (match fixing)."