Even though the Suspicious Betting Reporting Mechanism (SBRM) launched by the Maltese licensing regulator was scheduled for the upcoming January 1, the organization made it available on November 23. The new tool is called to deal with suspicious activity in bookmaking on a centralized basis. The latest news in betting by Login Casino informs about how this innovation can help with match-fixing cases.
The idea of creating a centralized algorithm to detect and prevent suspicious betting isn't new. Even though bookmaking firms usually have the specific item in the terms & conditions agreement that allows them not to pay out if the case is suspicious, it's hard to prove that a bet has had an evil intent or scam. Such a problem could be fixed by creating a single system, but diverse countries have different licensing rules, and cooperation wasn't possible.
Although international and multi-legislative collaboration isn't still possible, creating a single system inside one licensing operator is a much easier case. Being a highly and broadly recognized licensing body all over the world, Malta Gaming Authority decided to implement a mechanism that can detect suspicious betting cases and create appropriate reports.
What does this innovation mean to the bookmaking industry?
The first public discussions took place in May when the licensing body presented the draft of the requirements. The idea has been broadly recognized by the licensees, which are the first sufferers from the suspicious wagering. However, the innovation can bring confusion to the bookmaking industry as players can face payout problems under the new rule.
However, the MGA has claimed that it is ready to adjust the new system to make it fairer. Of course, it is called to reduce the number of match-fixing cases in sports. Being the licensor for the huge number of international betting firms, the Maltese SBRM can become a breakthrough in the field. The regulatory body can gather and process big data from international bookmakers and detect suspicious and scam events.
The obligatory implementation of the new rule is still planned for the beginning of 2021. However, betting companies that want to test the innovation can launch it now. MGA representative has explained such a step as the desire to give operators the transitional time before the new rule becomes obligatory from January 1.