One of the racing world’s major regulatory body has announced a commitment towards safeguarding the integrity of horse racing with a six-figure investment.
The Irish Horseracing Regulatory Board (IHRB) has announced that it will be investing €350,000 with an external company that will play a key role in helping the Irish regulator with both the monitoring of betting trends and the investigation of betting rules in the long term.
The IHRB plan to put out the contract to tender, offering a four-year commercial package. The successful company will be given the task of analysing and checking betting patterns and will work with the IHRB to safeguard the overall integrity of Irish racing. According to Denis Egan, the IHRB Chief Executive, the tendering process will be complete within three months:
We are outsourcing an element of our function. It’s the same as using a third-party service provider to provide the laboratory, or to provide camera pictures. This will be a monitoring service.”
This move by the IHRB is in line with a number of other major sports organisations around the world, who have been taking steps to protect the integrity of their sports by hiring specialist data companies who are equipped to monitor betting trends as a way to spot integrity issues such as race or match fixing at an early stage. Currently, the regulator in Ireland has a series of memorandums of understanding (MOUs) from the main betting operators in the Irish market, enabling them to access betting information relating to the sport. According to Egan, the IHRB will continue with its use of MOUs alongside their contract with a third-party data monitoring group.
Andie Hughes is a UK-based freelance betting and gambling writer with over a decade of experience in the industry, having written for Betfair, ESPN, Boylesports, Sporting Life and various other popular betting sites. Contact Andie at email@example.com.