Bad News For Sports Is Good News For Corporations

By on July 10, 2018

July 10, 2018

Hackers follow the money, and corporate America is no longer where the biggest scores can be found. The Supreme Court’s ruling in Murphy v. National Collegiate Athletic Association opened the door to legalized sports wagering, and compared to identity theft or holding medical records for ransom, legal sports bets are child’s play. Several states, including New Jersey, have already taken steps to legalize sports betting, and many more will follow. According to best estimates, somewhere between $150 billion to $400 billion changed hands annually from illegal sports betting. With that kind of money or more on the line, and available instantly and legally, hackers are likely to pay less attention to companies, and increasingly look for confidential sports information to use to their advantage. For sophisticated hackers or crime syndicates, legal sports betting presents numerous opportunities. Sports teams generate reams of sensitive information about everything from contract negotiations to injury and other health information, all of which can be used to gain an edge in wagering. The drill is simple – hack into nonpublic sports information, gain an edge and place a bet. The motive can be making a profit, laundering money or using confidential player information for extortion.
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The New York Times

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