University athletic departments and college conferences use independent sports-betting monitoring services to make sure athletes and personnel do not bet on sports
FILE - Iowa State running back Jirehl Brock poses for photographers during an NCAA college football media day, Aug. 2, 2022, in Ames, Iowa. Brock is among eight ISU and Iowa football players or staffers facing criminal charges Thursday, Aug. 10, 2023, in connection with the state's investigation into sports wagering at the two schools.
More than a dozen current and former Iowa and Iowa State athletes and staffers face charges and the Cyclones may kick off their football season missing a handful of starters. “I think early on we were lucky because ... no one was really focusing on compliance products or integrity products,” Holt said.
Still, the scandals have drawn attention and raised concerns. A recent survey found that more than half of college students ages 18 to 22 had placed sports wagers and the NCAA plans an athlete-only assessment this fall.“More and more potential issues could become prevalent, but the good news is these things are being flagged and discovered and managed, so I think what is in place is potentially working,” said Baird Fogel, a California attorney who works with the sports betting industry.
Ron Li, senior vice president of client strategy for Navigate, said financial giant Morgan Stanley projected in late 2019 that the legalized sports wagering market could reach $8 billion by 2025. When that figure was hit in late 2022, Morgan Stanley revised its forecast to almost $13 billion.
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