Sportsbook operators across numerous states have announced the formation of the first national non-profit organization aimed at monitoring the newly legal sports betting industry.
Sports Wagering Integrity Monitoring Association, also known as SWIMA, is intended to monitor the sports betting market across the nation in a bid to root out any emerging fraud or corruption and to keep the industry operating at peak levels of transparency and integrity. This could have a direct impact on NJ sports betting, PA sports betting, RI sports betting, WV sports betting, and other legal US sportsbooks.
Member operators who have joined thus far and who will fund the organization in the execution of their duties are:
- William Hill PLC
- Paddy Power Betfair
- Tropicana Atlantic City
- Resorts Casino
- Golden Nugget Inc.
- 888 Holdings
- Hard Rock International
The rescinding of PASPA this past year makes legal sports betting a new revenue opportunity. Sports betting is projected to be valued at eight billion dollars in ten years time and is anticipated to see massive and expansive growth - with associated potential for abuse. And that is where SWIMA comes in.
SWIMA The Watchdog For US Sports Betting?
The launch of SWIMA has been hailed as being timely and responsible given how soon companies have voluntarily created their own watchdog organization, which will operate at a national level in association with law enforcement agencies, tribal and state gaming regulators among other bodies with vested interests in keeping the industry clean and corruption free.
A centralized monitoring and regulating body where members from states can report any suspicious activity, in their own state or nationwide, could possibly be a good development for the rapidly growing sports betting industry.
George Rover, the Former NJ Assistant Attorney General and SWIMA Chief Integrity Officer described their aims as ensuring “a safe and secure betting environment for consumers across the country” and that "the key is to ensure that sportsbook operators are able to connect." Leagues and sportsbooks already do their own monitoring to identify suspicious activity by observing transaction patterns individually, however, having a larger network to refer to would enable operators to more firmly establish whether their observations have greater ramifications for the industry as a whole.
Sara Slane, Senior VP of public affairs for the American Gaming Association meanwhile said that she was reassured by "the industry's commitment to upholding integrity across all facets of a legal, regulated sports betting market."
Trustees on the newly launched NGO include Caesars Entertainment executive vice president of public policy and corporate responsibility, Jan Jones, and MGM Resort International chief compliance officer, Stephen Martino, setting the bar very high for ethical standards and performance by SWIMA.