Backing and collusion in tournaments

ESPN article

Is it possible to end players backing each other in the same tournament? Is it like team racing or something entirely different? Thoughts?

EDIT: This kinda reminds me of the chess world dealing with the "Grandmaster draw" where players in prize contention would agree to a quick draw in the last round to ensure a certain share of the prize money, instead of playing a contentious game. Solutions have been creative, from not allowing games shorter than fifty moves to awarding more money for hard-fought games in the last round.

ScottieK