Forget the gambling part, where can I sign up ? 
Haha, this is going to be a global sport if this is a real thing and those that are from European countries are going to be the first to sign up and eligible participants.1. I do not think of sex as a sport because there is a biological limit that you simply cannot "train". So calling it a sport seems weird. Porn is already public so this is nothing which could be considered as breaking a taboo.
It's really weird but I think that it's been said that this competition isn't real and just a plain hoax.