Sports betting oversight to be consolidated under Prohibet, potentially simplifying the detection of rule violations in sports.
College and professional athletes have been in hot water recently for violating league policies by betting on sports. This has impacted athletes at major Iowa universities and NFL players, costing careers and millions of dollars in suspensions.
A new tool called Prohibet might help prevent such problems in the future. Launched in April, Prohibet offers a one-stop solution for regulators, sportsbook operators, and leagues to detect gambling activities among athletes. In the past month alone, it has partnered with the UFC, major sportsbook operators, several collegiate conferences, and a university in the Atlantic Coast Conference.
Regulators have shown widespread support for Prohibet, with over 130 state regulators taking part in a call with Matt Heap, the product's managing director, in June. Sportsbook operators may have done their due diligence when investigating bettors under scrutiny, but until now, a reliable, commercially-reasonable solution like Prohibet was lacking.
Sportsbook brands like DraftKings, FanDuel, BetMGM, and Caesars Sportsbook have yet to express interest in partnering with Prohibet. In the NFL, a zero-tolerance policy prohibits players from wagering on any sport or engaging in activities such as online poker and blackjack. Over a dozen NFL players have been suspended for gambling-related violations this year, with former Indianapolis Colts defensive back Isaiah Rodgers Sr. being one of the most notable cases.
Rodgers placed hundreds of wagers on sports, including a $1,000 prop bet on a teammate's rushing yardage during a 2022 game, which he reportedly won. Prohibet's system includes real-time alerts that allow potential regulatory and sports league violations to be addressed quickly, potentially leading to greater transparency in assessing policy infractions.
The threat of large-scale cyber intrusions is a concern when it comes to protecting a bettor's Personal Identifiable Information (PII). Prohibet's robust data security framework may be the solution to this problem, providing an encrypted clearinghouse for non-voluntary exclusion lists. An encryption tool called "cryptographic hashing" converts recognizable names to anonymized codes, protecting sensitive personal data while still allowing for potential matches between sports bettors and prohibited individuals.
Enrichment Data:There is no evidence that a tool named "Prohibet" is being widely adopted across major professional sports leagues. Current efforts for preventing sports betting violations include self-exclusion tools, real-time behavioral monitoring, and regulatory mandates, rather than relying on a single proprietary tool. Leagues and operators are implementing these measures separately, not through a centralized solution like Prohibet.
- The implementation of Prohibet could potentially minimize betting violations in sports, as it provides a unified approach for detecting gambling activities among athletes.
- Regulators are showing increased support for Prohibet, with over 130 state regulators participating in discussions about the tool.
- Prohibet offers a one-stop solution for regulators, sportsbook operators, and leagues to detect sports betting activities and ensure compliance with league policies.
- Sportsbook brands such as DraftKings, FanDuel, BetMGM, and Caesars Sportsbook have not yet expressed interest in partnering with Prohibet.
- In the NFL, a zero-tolerance policy prohibits players from wagering on any sport, and over a dozen players have been suspended for gambling-related violations this year.
- Prohibet's system includes real-time alerts that allow potential regulatory and sports league violations to be addressed quickly, potentially leading to greater transparency in assessing policy infractions.
- Protecting a bettor's Personal Identifiable Information (PII) is a concern when it comes to sports betting, and Prohibet's robust data security framework may provide a solution to this problem.
- An encryption tool called "cryptographic hashing" is used by Prohibet to convert recognizable names to anonymized codes, protecting sensitive personal data while still allowing for potential matches between sports bettors and prohibited individuals.
