By Ryan Bologna
The sports betting industry has seen massive growth over the last few years. It’s now legal in 30 states and is easier than ever to take part in with online sportsbooks. While sports betting is more convenient than ever, new users should do research to protect themselves. Whether it’s a fake website or people pretending to be professional handicappers with inside information, it’s important to be able to recognize these scams. Here are some of the most common online sports betting scams with some red flags to look out for.
Anyone who has ever been on the internet knows that there are scam sites for pretty much anything, it’s no different with sports betting. These scam sites will attempt to trick you into making deposits that you will not be able to get back. Some of the common excuses for not giving you your money are technical issues or processing delays. This makes it important to read the site policy on something like freezing winnings. Whatever it is, good luck getting your money back if you fall for one of these sites.
Some of these sites could be after your personal information as well. The best course of action is to take steps to recognize these sites before you even sign up. Some pop-up ads might look enticing, but if it’s too good to be true, it probably is. Be sure to read the fine print if you think it might be a legitimate promotion. Ignore texts and emails with links as well. Read multiple reviews to make sure a site is legit and stick to the well-known online sportsbooks. The best way to do this is by checking which sportsbooks are approved by your area’s gaming commission.
People claiming to have good picks or inside information are commonly referred to as “scamdicappers” and will often promote their services on social media. If you get a direct message from someone on social media, that’s an instant red flag. It’s almost a certainty that those messages are from people trying to scam you.
Sports betting scams try to get you to invest in a system or software that will guarantee you profit.
They often claim to have an insider or get their information form a reliable source and ask you for a monthly fee to join their telegram channel or WhatsApp group. pic.twitter.com/yQNK7G3l2r
— NoGoFallMaga (@nogofallmaga) May 15, 2021
Another sign to look out for is if they claim there are limited spots left or try to pressure you to make a payment right away. Keep an eye out for accounts that claim to have inside information or 100 percent certain picks. Even the best handicappers will not have a success rate that is much higher than 55 percent. Like with the websites, read reviews and stick to the well-known handicappers. There are more than enough reliable services out there; just pick the one you like and stick with it.
Many of these tactics are consistent with avoiding internet scams in general, but it always helps to know some tips that specifically apply to sports betting. The bottom line is if you read all of the details and know the common scam tactics, you will have a safe and fun time gambling on sports.
Phot Credit: Tero Vesalainen