Their are Africans calling over Skype supposedly looking for love, and hackers sending links with virus. It’s all part of being online, we are just warning you with regards to scams in betting.
Have you ever received a mail offering fixed bets?, supposed inside information were the result known. For a couple of hundred Euro they offer ‘’valuable information’’, so you can bet and profit. Just think about it, who in their right mind falls for such crap?. I guess the answer is many, otherwise they wouldn’t continue with such mail. Nevertheless, it’s one of the biggest scams at the moment, and you need to avoid.
What about tipsters advertising 80% strike rates with massive profits guaranteed. The fact of the matter is no one can get near that number, unless it’s money line at short odds. In reality a tipster needs to beat 50% if betting at odds 2.00, and 52.38% if betting 11 to win 10 (-110). A strike rate of 55% is more than acceptable to achieve long term profits, and that’s also a realistic number. Lets looks at more scams in betting ….
Maybe you’ve seen the TV reality show called money talks, the theme is based on Las Vegas handicappers selling picks. Most of their work is hustling people over the phone with a guaranteed ‘’lock of the year’’. The head poncho calls himself Steve Stevens, but he’s really ex felon Darin Notaro. When the bet wins Stevens wants 50% of the profit, so the maths don’t stack.
If we are to believe the show clients were real people. If that’s the case, it just goes to show how dumb supposedly intelligent people can be. Lets just make it clear, Stevens would need 80% strike rate for his client to break even. The company is called VIPSports, check the site out for yourself but don’t send money.
The lying betting slip is another way for scammers to show supposed winnings. The idea is it locks a punter into thinking it’s easy money, and it works because people are dreamers. I suppose this is one of the most obvious scams in betting, but their are more!
However, it’s not just tipping sites who are responsible for scams in betting. Last year we reported on a group calling themselves Sports trading network, not to be confused with the website. These thieves had 55,000 followers on twitter, and they locked investors in with wild promises.
To sell their story, they convinced people they were part of the 888group and licensed in the UK. This was clearly a big lie, and easy to dissect for a person who understands the business. Afterall, one of the worlds biggest gaming companies wouldn’t need outside investors for a ponzi scheme. And, nor would it let people profit off it’s back!
Selling points also included getting bigger odds from bookmakers, since they were part of an inner circle. And, it really didn’t stop there has they convinced people it was a big opportunity.
It was amazing that such a scam would work, but it certainly did. In fact, they used an MLM system were investors bought in friends and relatives. They got people believing in paper profit, and a get rich quick scheme.
Everything looked great until d-day, or should i say when people asked for a return. Then the paper profit disappeared, citing missed trades. Some of the mail i read was pathetic, and people had become victims.
Lets just add that while Scams in betting are unfortunate, their are others who offer a decent service. Lets just wrap by saying if it looks to good to be true, it probably isn’t!