It really makes you think, if the international body of boxing is so corrupt, can you imagine the corruption that would be going on individually promoted events and closed leagues as the liked of UFC? Makes me think that fighting promotions and especially boxing should be avoided if you want to make bets.
You can read a relevant article about the Olympic news here: https://www.kompas.id/baca/english/2024/04/04/en-tinju-terancam-didepak-dari-olimpiade
Your reasons are quite understood as over the years I watch how opponent becomes enemies after which due to the level of corruption set by the referees but have not really placed more insight on betting in boxing as I feel it's not a fair game but then I would agree to this your statement that it's worse betting on it as let alone watching the sports isn't cool at all.
For me I prefer football and basketball so much and I can place a bet on them and get the fun and excitement when doing so.but in another aspect boxing can be a very thrilling game to place bets if one really know every strategies to ascertain that effect.