According to the American Gaming Association, billions of dollars will be wagered when the Denver Broncos and the Carolina Panthers play off on February 7thduring Super Bowl 50.

“Of the estimated $4.2 billion in bets that will be placed on this year’s Super Bowl, $4.1 billion, or about 97%, will be wagered illegally,” the American Gaming Association estimates.

In other sports, the spotlight is currently being turned on tennis as match fixing allegations surface.

The accused match-fixersseem to be Asian bookmakers operating illegally across the globe.

In Australia, Victoria Police Assistant Commissioner Neil Paterson said, “It is estimated more than two-thirds of all money bet on sport worldwide is bet with these unregulated operators.”

“We know that they're accepting bets roughly of about $2 billion every week.

It's estimated globally that the unregulated betting markets that operate across all sports are worth between $1 and $3 trillion annually," Commissioner Paterson stated.

Four Corners, a prominent Australian current affairs program, have investigated Wei Seng "Paul" Phua, a Malaysian high-roller, and his links to illegal betting.

Mr Phua, who is an alleged crime figure in Asia, has also drawn attention from US officials too.

According to the South China Morning Post, the 50 year old Malaysian is one of eight people who have made billions of dollars during an illegal soccer gambling ring during the last World Cup.

The Four Corners investigation revealed that Mr Phua was flown to Melbourne by Crown Casino three weeks ago on one of its private jets despite the allegations.

It was thought that he was going to participate in a major poker tournament but he only stayed two days.

Crown Casino is owned by James Packer who recently got engaged to Mariah Carey.

It has been reported that the FBI are concerned about the sheer volume of money that is being passed around because Mr Phua is a "high-ranking member" of the 14k Triad, a much feared Asian crime syndicate.

Previously, a major investigation by the FBI in 2014 revealed that Mr Phua was behind the online gambling website known as IBC. It has since been renamed, ‘Maxbet’.

While convictions have been made,some of Mr Phua’s colleagues were later acquitted. Yet despite their questionable history they are considered valued clients by Melbourne’s Crown Casino.

While, Mr Phua remains free, according to Four Corners, he is under police investigations in many countries.

Unregulated bookmakers can account for more than two-thirds of bets placed illegally on sport across the world.

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