Top 3 Scams You Need to Look Out For in Sports Betting

It might have got off to a slow start, but this summer is still set to offer us plenty of sport to get our teeth into.

The little break has meant there's a stockpile of sport to catch up on, bringing us lots of entertained and for some people lots of opportunities to place some bets. However, punters have to be careful and always aware of the risks that specific betting scams pose.

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We've picked out some of the significant betting events coming up, and some of the scams you should be on the lookout for. Let's dive in.

 

Scam 1. Prediction Software

Some scammers will try to tempt you into using their “sophisticated” prediction software, which can help you make better bets and earn a better return.

To gain access to the software, though, you will often have to make a significant upfront investment, which the seller will justify by saying you will earn it back in just a few short bets. Generally, though, the software only uses information that's readily available to anyone who looks for it and will have little effect on your chances of winning.

While you've already parted with a lot of money, your chances of winning it back are not significantly increased, if at all.

 

Scam 2. Impersonating Accounts

Scammers have become very efficient at impersonating businesses such as banks and betting companies.

They're even able to send text messages to your phone from a number associated with your betting company, making it seem legitimate. If you ever get text messages or calls from your betting company asking for sensitive information, you shouldn't give it to them.

If you have concerns, find a contact number on the betting company's website that you know is genuine and ask them about the text messages.

 

Scam 3. Betting Syndicates

You may have seen adverts on platforms such as Facebook where people talk about how they've come up with this fantastic betting formula, and people around the world are investing their money in it for guaranteed returns.

These scams generally require you to make a significant upfront investment to open an account, and you continuously need to keep topping it up to see returns.

In most cases, the problem is you don't see any returns, and if you do, they're often based on a Ponzi system, which is designed to get you to invest even more money. Eventually, your returns dry up, and you're left with no money at all.

Whenever you're looking at these kinds of syndicate betting systems, it's vitally important that you look at them with a critical mind and ask yourself if this really seems legitimate.

 

How to Protect Yourself

The big thing here is awareness. Some of these scams are incredibly compelling and come across as legitimate, but if you're always aware of the risks and take your time to ask “is this legitimate,” then you give yourself the best chance to avoid the scams.

Millions of people enjoy betting responsibly, but there are risks associated with it. Make sure you're aware of them, and that you're taking steps to protect yourself.

 

Sports That You Need To Pay Attention To

What are the most exciting sporting events that scammers take advantage of? Besides the Champions League soccer matches, here are the sports that will catch everyone's attention.

 

Tennis

Tennis has been a little slow to get back to competitive life, but there's not long to wait now. While players have been putting on exhibition tournaments between themselves, the real tennis starts on August 31st with the US Open, closely followed by the French Open on September 20th.

The sport has had a notorious past with betting, with reports suggesting that corruption is rife at the lower levels of the game. With so many different aspects to bet on, tennis is popular with betters and will undoubtedly continue to do so during the upcoming grand slam tournaments.

 

Horse Racing

Another sport that has recently returned to our screens – horse racing is back, and there's tons of action to come.

It's one of our favorite pastimes, and the summer hasn't felt quite the same without the seasons' signature races. Millions of people enjoy having a flutter on the horses each year. It's a major source of revenue for the sport. However, as mentioned above, there are individuals who take advantage of this and scam betting fans out of their money.

 

Table Tennis

If you're looking for something slightly different and you're all about action, table tennis is a great sport.

There always seems to be a game to bet on in ping pong, and again, it's popular for its wide variety of markets. Table tennis betting is getting more and more popular, and of course, where there are lots of bets being placed, people are looking to run scams.

 

Golf

The PGA tour has been back since mid-May, and this week the European tour has recently followed suit.

Golf has been a popular pursuit in recent times, as it was one of the first sports permitted after the break, so it will be interesting to see how many people have really got into it over the recent period.

Betting wise, it's also another popular sport, and with significant events such as the PGA Championships coming up, there's sure to be a lot of activity in the market.

 

NFL

This one's still a little way off and later in the summer, but it's something that many people will be looking forward to. The NFL is scheduled to start on September 11th with the Houston Texans at defending Super Bowl champions the Kansas City Chiefs.

There's still plenty of negotiating to go on about how things are going to work in the NFL, and there's a lot of time until the start date so that things could change, but hopefully, we will be in store for some great action before long.

Plenty has been happening during the offseason, so it's going to be exciting to see how the 2020 season pans out and who will be able to dethrone Patrick Mahomes and the Chiefs.

The uncertainty is likely to draw in lots of betters, in an already huge gambling market.