Illegal bets may reach $1.7 trn annually, risk integrity in sports: UN

Illegal betting on sports may approach $1.7 trillion annually and is often used by criminals to launder money, according to a report from the United Nations Office on Drugs and Crime.

The estimate dwarfs the legal sports wagering market, which is about $40 billion, according to the report released Thursday. The increasing number and types of bets are complicating efforts by law enforcement to squash illegal wagering, as is a proliferation of rogue online operators using cryptocurrencies to disguise who is gambling.

Illegal gambling strips sport of its positive, transformative power, the report said, risking its ability to teach and inspire young