"The matter traces back to early 2024, when concerns emerged that Porter had been involved in an insider betting scheme linked to his playing time and on-court performance in Toronto Raptors games. As the allegations surfaced, the AGCO directed all regulated sportsbooks in Ontario to determine whether they had offered markets on Porter and to report any suspicious betting activity."
"Months later, after a U.S. Department of Justice indictment laid out details of the broader scheme, the AGCO again instructed operators to comb through their records. Eighteen months after its original reply, PointsBet acknowledged that it had in fact taken bets on Porter's games. After examining the company's wagering data, the AGCO concluded the operator's internal controls should have detected and reported unusual betting patterns when they occurred. That reporting, the regulator says, never happened."
Ontario's Alcohol and Gaming Commission proposes a five-day suspension of PointsBet Canada's online gaming registration for failing to flag and report suspicious wagers linked to former NBA player Jontay Porter. Regulators characterize the lapse as a systemic failure in monitoring, detection, documentation and escalation of unusual betting. Concerns began in early 2024 after allegations of an insider betting scheme tied to Porter's playing time in Toronto Raptors games. PointsBet initially denied offering wagers on Porter and later acknowledged taking bets eighteen months after its original reply. The AGCO concluded PointsBet's internal controls should have detected and reported the patterns, which did not occur. Under Ontario rules, sportsbooks must promptly alert leagues, independent integrity monitors and law enforcement about threats to sports integrity.
Read at ReadWrite
Unable to calculate read time
Collection
[
|
...
]