Sport England estimates the value of spending on sport-related gambling in England grew from ₤ 1.7 bn in 1985 to ₤ 2.8 bn in 2008.
And that figure is likely to have grown even more, with an approximated ₤ 1bn bet on the World Cup alone in the UK this summer.
Meanwhile, German research study firm Sport & Markt approximates the total global sports betting market will deserve 263bn euros (₤ 220bn) by 2012, with much of that driven by web and sports betting.
But when the integrity of occasions are hit the sports betting industry suffers, and revenues are put under threat if consumers can not wager with self-confidence.
And there can have been few higher-profile sport wagering stories than those affecting cricket and snooker this year.
High-profile
As Sport & Markt's Gareth Moore observes: "Everyone discuss the sports betting market now.
"Not only is it a substantial market in world business, it is one that is now on the front pages of papers."
Four Pakistan cricketers have actually been questioned by cops over spot-fixing accusations relating to a test versus England at Lord's last month.
Three of these players have actually stated they will likewise challenge the corruption charges installed versus the trio by the sport governing body the International Cricket Council.
Meanwhile, three-times snooker world champion John Higgins was cleared of match-fixing claims, but was prohibited last week for 6 months for stopping working to report the unlawful approach to him to toss frames.
There are also two other continuing investigations - unrelated to Mr Higgins - into snooker.
'Honest'
David O'Reilly is legal counsel for Betfair, one of the UK's most significant online sporting exchanges.
"If the sport is viewed as honest, straight and reasonable that benefits wagering companies since people will invest money sports betting with self-confidence," he states.
"If you take the Pakistan allegations, although unrelated to the UK controlled wagering industry ... it is not actually a favorable story for wagering in the UK.
"That is since the perception is that 'cricket is now something we may need to be careful about'."
'Education'
So what can be done to prevent future scandals?
According to professionals at a World sports betting Law Report conference into sports betting gambling, the focus needs to be on sportspersons and sportswomen.
As Simon Taylor of the Professional Players' Federation mentions: "The only individuals who can fix a match are the competitors or the referee."
His organisation represents males and ladies in 15 sports betting in the UK, being an umbrella organisation for all gamer organisations, such as the Professional Footballers' Association.
He thinks that it is not sufficient to merely have deterrents, sanctions and disciplinary treatments, but that the way to take on potential problems around players is also through education.
Mr Taylor states guidelines need to be described clearly to gamers with clear examples, and by people they appreciate.
"Through informing gamers about sports betting you strengthen stability which remains in everyone's interest," he adds.
"If players are more difficult to corrupt then sport will be harder to corrupt."
'Brand damage'
Matt Johnson, head of regulative legal recommendations at the Football Association, agrees.
"Prevention is much better than treatment, and we likewise make a point of informing players 'you are going to be caught'."
"It is vital that sport is directly, and is seen to be straight," he adds.
"If it loses that then people do not desire to wager, that is not in gaming firms' interests, and it is not in our interests."
He stated that when an excellent credibility was lost, the damage to a sport was "enormous".
FA guidelines imply players are not permitted to bank on a competitors in which they are involved.
Mr Johnson states players have to be seen not to be cashing in on any inside understanding, which he states might trigger "brand damage" to football and its competitions.
So, even a 2nd Division gamer knocked out of the FA Cup in the autumn can not bank on a Manchester United v Chelsea cup final the following spring.
"We need to get over to players the reputational threat to the video game," he says. "Once confidence has been harmed it is tough to get it back - mud sticks."
'Overwhelmingly legal'
If this represents the "carrot" approach, then perhaps Nick Tofiluk, director of guideline at the Gambling Commission, represents the "stick".
The Gambling Commission was set up under the Gambling Act 2005 to control business gaming in Great Britain.
An ex-chief constable of West Midlands cops, Mr Tofiluk has responsibility for policing all sports betting in the UK apart from spread sports betting, which is the remit of the FSA.
"The overwhelming bulk of sports betting wagering happening through UK operators is legal and fair," he states.
"But for some there is the temptation to ... corruptly disrupt the result of a sporting occasion.
"Such unfaithful has the possible to weaken the stability of a sport, and it also hurts the commercial interests of sports betting bodies and sports betting wagering."
The commission has established an internal Sports Betting Intelligence Unit to get and distribute information to sporting authorities, wagering companies and policing authorities.
"Since 2007 we have experienced a substantial insight into world of corrupt sports betting," he states.
"We will signal sports betting of our issues, to help prevent or cut [prohibited] activity"
In May 2010, the commission also presented a confidential telephone hotline for those with information or suspicions.
'Vulnerabilities'
But in a two-and-a-half year period there has been just one criminal prosecution, a 24-year-old man who was cautioned for unfaithful in relation to greyhound racing.
However, Mr Tofiluk states there are still eight ongoing examinations, and that much useful information has also been passed to sports betting authorities.
He said that where an investigation by a sport governing body was quicker, and more cost reliable, then the commission would consider stopping a criminal examination "in favour of letting sports betting governing bodies take the lead".
Meanwhile, he says a lot of those seeking to cheat the sports betting wagering market were well-informed about sports betting and sporting individuals, and about wagering operations and the movement of cash.
"They seek out the vulnerabilities of these to assist in their business."
