SCAM Alert: 3 Tactics of SCAM Sportsbooks
Online Sportsbook scams are a multimillion-dollar business.
Over the last 5 years we've seen players lose millions of
dollars, not because their bets lost, but because they sent
money to scam sportsbooks.
Don't be the next victim. Be aware of these common scam tactics
to protect your money.
1. New Sportsbook with Large Bonuses (25%, 40% or more) - this
is a very common tactic of new operations that don't know what
they are doing. They open a new sportsbook (especially around
football season) and offer large bonuses to getp players to
sign-up. Their business model is flawed from the beginning and
will eventually lead to financial troubles, slow/no-pay disputes
and eventual shutdown.
Beware of offers that combine High Bonuses with Reduced Juice.
Also, be wary of Lines that are out of wack. Obscure or soft
lines can only mean one of two things: a lack of volume or that
the book itself is gambling on events.
Remember: If a promotion looks too good to be true, it probably
is.
2. Telemarketing or Cold-Calling - is a sign of desperation that
the book may be getting ready to run for the hills. Scam
telemarketers will use a variety of tactics to get their hands
on your money. Some try to bully you, while others will charm
you. In many cases it is a single high-pressure call or other
pressure tactics requiring immediate decisions (usually to make
a deposit). Watch out for anything that sounds fishy.
Remember: If a promotion over the phone does interest you,
insist written information be sent to you before agreeing to
make the deposit.
3. Outright SCAM Sportsbooks - usually open up right around
football season. This type of scam operation is know as the
deposit-only sportsbook because they do whatever it takes to get
you to deposit your money with no intention of ever making
pay-outs.
The easiest way to spot a fake is to look for an address or
phone number. If the site lists a phone number, call it and ask
for their address. If they do not readily give you a valid
address, consider them suspect and do further research before
making a deposit. These rogue operations often use large
bonuses, spam email and other shady tactics to lure players.
Remember: In this completely unregulated industry, you have to
do extra research because there are no safety nets and you are
the only one responsible for your funds.