Illegal Olympic Games streams are becoming a hotbed for black market gambling advertisements, with nearly half of these streams featuring ads for unregulated betting sites, according to a new report from cybersecurity firm Yield Sec.
The report, which analyzed over 100 illegal streaming sites offering coverage of the ongoing Olympic Games in Tokyo, found that 47% of these sites displayed advertisements for online casinos, sportsbooks, and other gambling sites. These ads often target unsuspecting viewers with enticing offers of free bets and bonuses, but can expose them to significant risks.
“Black market gambling ads on illegal streaming sites pose a serious threat to viewers, who may unwittingly click on links to unregulated and potentially fraudulent websites,” said Tom Richards, founder and CEO of Yield Sec. “These sites often lack proper oversight and consumer protections, putting users at risk of financial harm and exploitation.”
The presence of black market gambling ads on illegal streaming sites is not only problematic for viewers, but also for legitimate businesses in the gaming industry. Unregulated gambling operators benefit from increased visibility and reach through these ads, undercutting licensed and compliant companies that prioritize consumer safety and responsible gaming practices.
The report also highlights the challenge of combatting black market gambling on illegal streaming sites, which often operate outside the jurisdiction of traditional regulators and law enforcement agencies. Despite efforts to crackdown on these sites, they continue to proliferate and attract viewers seeking free or low-cost access to live sports events.
To address this issue, Yield Sec recommends that viewers exercise caution when accessing content through illegal streaming sites and refrain from clicking on suspicious ads or links. They also encourage regulators and industry stakeholders to work together to identify and shut down these sites, in order to protect consumers and promote a fair and competitive gaming market.
As the Olympic Games continue to captivate audiences around the world, it is crucial that viewers remain vigilant and informed about the risks associated with illegal streaming and black market gambling. By staying informed and taking proactive measures to protect themselves, viewers can enjoy the excitement of the games without falling victim to potentially harmful online practices.