“People are also dealing in credit, and therefore accounts are being run all over the world.

“A PERFECT COMBINATION”

The ubiquity of mobile phones and tablets has helped transform bookmakers from operators of dingy, smoke-filled betting shops into multi-billion dollar de facto tech firms, pouring resources into developing apps and complex algorithms and marketing to younger and broader demographics.

“There’s been a lot of stagnation where a lot of countries originally said, ‘Well this is illegal, we won’t let them do this’, but of course with the internet you can’t make things illegal and stop people going online,” Gainsbury said.

William Hill, an official partner of the Australian Open, has a new “Bet-in-Play” feature m88 sportbook for its Australian customers that requires access to a smartphone’s microphone while the bet is placed to comply with such laws.

In Australia, for example, 2001 laws regulating Internet sport betting bar anyone from placing a bet on a sporting event online once it has begun, despite allowing live betting over the phone or at retail bookmakers.

“It has grown because of mobile technology. It allows people to place bets anywhere, anytime,” Jay told Reuters. It has created a perfect combination.”

“We’re no longer restricted by geography or the limited choices of one betting company. in every country, where it’s actually just not possible for the government to regulate these sites that are based in all these tiny remote jurisdictions,” she told Reuters.

That range of figures, which includes betting on sports from football, cricket and tennis to much less widely followed sports like snooker, darts and table tennis but excludes racing, illustrates the difficulty in accurately valuing the overall market. He expects it to double again in the next five.. “So it’s difficult to get a really accurate size of how much people are betting because a lot of it is actually illegal.”

(Writing by Matt Siegel; Editing by Lincoln Feast)

The greatest danger for mobile gambling to intersect with corruption lies in the ease of fixing a one-on-one sport like tennis, darts or snooker, according to experts and professional gamblers.

(The story corrects tense of transform in paragraph three)

Allegations this week that tennis authorities failed to deal with widespread match-fixing has rocked the game, following similar allegations that have blighted cricket, football and other sports.

Leading bookmakers including Betfair Group PLC, Ladbrokes PLC, Paddy Power PLC and William Hill PLC did not respond to requests for comment. And we have wall-to-wall sport every day of the week from across the globe beamed into our lounge rooms, on our smartphones,” said Scott Ferguson, a wagering industry consultant. There have not been any allegations of wrongdoing by the bookmakers in the World Tennis scandal.

Worried about the boom in sports betting and incidents of match fixing, countries like Australia and across the European Union are in the process of reviewing laws that experts like Gainsbury say are “hopelessly outdated”.

Most major bookmakers operate from small offshore jurisdictions, making accurate predictions of industry worth extremely difficult, said Gainsbury.

“There’s a large grey sort of offshore market …

The Australian government, citing a 2015 United Nations conference at which Jay was a speaker, put that figure as high as $3 trillion, of which 90 percent was “illegal” or in contravention of laws regulating gambling in which the bet was placed.

SYDNEY The rise of mobile betting is transforming global sports wagering faster than regulators can react, flooding the industry with cash and potentially contributing to corruption scandals like the one roiling world tennis, experts and insiders say.

Patrick Jay, a betting consultant and former sports and football director at Ladbrokes, estimates the global sports betting market is likely worth about $1 trillion a year, having doubled in size in the last five years. “Technology is everything.”

Mobile apps that allow in-game betting on individual points or games allow athletes to stealthily manipulate the results and may strike some of them as less unethical as throwing an entire match, said Sally Gainsbury, a senior lecturer at Southern Cross University who has written a book on the subject

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He bets on football and basketball, is worth hundreds of millions of dollars, and has been so successful that many Las Vegas bookmakers are afraid to even take his bets.

“I’ll take 15,” Walters countered.

Asked what his biggest win was on a round of golf, Walters said, “Probably a million bucks, around a million dollars.”

“Yes. Believe me,” McCarlie added.

The Super Bowl: America’s Biggest Bet

More people bet on the Super Bowl than any other sporting event. Now, he’s a very wealthy man,” Walters replied.

“You got it for a dime!” Walters agreed.

Walters has been almost as elusive as Howard Hughes, avoiding publicity, reluctant to reveal his secrets. So, how does a professional gambler approach the big game?

He gambled on the Super Bowl last year and won $3.5 million. Most bettors come to a sports book inside the casino, to lay their bets, wagering $2.5 billion dollars every year. Small potatoes for Walters.

The Gambler

Extra: The “Keyser Soze” of Las Vegas?

Extra: Billy Walters’ Analytics

Extra: The $3.5 Million Bet

“He is,” both men replied simultaneously, laughing.

“What’s the most you’ve ever made on a hole?” Logan asked.

“Ten,” McCarlie said.. I never got to bed to with it. Nevada is the only state in the country where taking bets on individual games is legal. And he showed us how the hustle worked with m88a Gene McCarlie, an old friend and casino owner.

“Who’s the better golfer?” correspondent Lara Logan asked Walters and McCarlie on a golf course.

But after 30 years of unprecedented success, the man who calls himself a Kentucky hillbilly agreed for the first time to open the door into his betting life in Las Vegas – a life he describes as one long hustle – in betting parlors, in pool rooms and on the golf course.

Walters just missed a 60-foot putt, but after only three holes, he was up $17,000. But there are some high rollers who consistently win, and it’s hard to find anyone better at winning than Billy Walters.

Asked if there’s anything he doesn’t gamble on, Walters replied, “Not really.”

On the day we went along, the two buddies decided to play for $5,000 a hole, with a few side bets along the way. Had no air conditioning. I lost it all in the Horseshoe Hotel playing blackjack before I went to bed,” he replied.

“Five-to-one for birdie,” McCarlie replied.

“By far.

“Probably $400,000,” Walters said.

“That’s a lot of money,” Logan remarked.

When Walters golfs, it’s mostly for fun. He used to make his living off it.

“What’s the price?” Walters asked.

“How much money have you taken off him over the years?” Logan asked.

© 2011 CBS.

When it comes to gambling, everybody knows the house has the advantage. All rights reserved.

“When I met him, he was driving an old Cadillac full of bullet holes

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