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.
About the Author
This SCAM Alert has been brought to you by SportsbookReview.com. Sportsbook Review rates every known sportsbook and issues SCAM Alerts to help you protect your money. Before you even think about sending money offshore, check the SBR SCAM Alert and the Rating Guide. Free Special Report "No-Nonsense Advice on How to Spot a SCAM Sportsbook" at http://sportsbookreview.com/downloads/9.aspx
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