Sports betting scams!
Its hard enough to make money from the sports betting markets as it is.
The fact that it is also a market that attracts conmen and scammers is also something that you need to be aware of.
I fell for a scam early in my betting career lets try and make sure it doesn’t happen to you.
Lets take take a look at some common sports betting scams that you need to be aware of.
Investing in a Sports Trading Fund Scam
First off I should mention that there are legitimate sports betting and trading funds.
But generally if you get approached by someone on social media looking for investment in a sports trading fund its going to be a scam.
Here is a good example of this type of sports betting scam.
It is somebody offering “wallet mangement.”
Basically what this scammer suggests is that you send them money or give them access to your betfair accounts and they will trade on your behalf. Giving you a percentage of his winnings for doing so.
So this is a bad idea for a lot of reasons.
Giving someone else access to your betting accounts or sending them money under the premise of “wallet management.”
Always puts you in a very bad position. They can just easily just keep the money and disappear or if accessing your account lose that money into there own account.
Also it makes zero sense for a profitable sports bettor/trader to take such small investment and payout so much profit. Surely anyone that is making money from sports betting/trading can increase their bankroll from the profits made.
Here is a high profile case similar to this regarding the “Betfair King” scammer.
Investing In a Sports Arbitrage Fund Scam
Next up is a scam that is very similar to the first one however it is under the guise of investing in a sports arbitrage fund.
Sports arbitrage betting is a great way to make money from the sports betting markets and I have written about it in depth here.
However again there is almost no reason at all as to why somebody would require investment for sports arbitrage.
Here is an article regarding the company the “Winning express” which pretended to a sports arbitrage betting fund.
The company was promoted by ex-Premiership footballers Steve Claridge and David Hirst it offered investors large, risk-free returns.
Investors in The Winning Express were guaranteed a 2% tax-free interest per month.
The Winning Express was allegedly run by a man named Graham Bradbury. Bradbury had previously been banned from being a company director for running a pyramid scheme.
Winning Express eventually closed in 2016.
This was a sports betting scam that left a lot of its “investors” being owed large sums of money.
I have covered affiliate betting tipsters like Badman Betting previously however tipsters such as these are still pretty prevalent in the sports betting industry.
There are tipsters out there that basically work alongside bookmakers.
They do this by sending bookmakers new customers and getting paid a percentage of their losses.
This basically gives them an incentive to provide poor value tips in order for them to get make money.
Often you will see these types of tipsters running silly challenges such turn “£10 into £1000 in 10 days.”
Another favourite is to tip big accumulators which again tend to be very poor value.
Is this an outright sports betting scam?
Maybe, maybe not?
However I don’t think it benefits betting punters and i do think its pretty unethical as I know most people that follow these type of tips aren’t aware that those providing them recieve commission on reffered player losses.
Fake Betting Review Sites Scam
Now this is an interesting one and probably one you might not be aware of.
Its a scam I wasn’t ware of until I got duped by it and then did my homework.
Last time I wrote about these guys they pursued legal action so I can’t name them exactly (don’t want to waste time/money on legal advice.)
However I can point out red flags to look out for.
I’ll start with how I fell for this scam.
Quite a few years ago I was looking on a betting review site and came across a betting product that I had never seen before. It had rave reviews and the site was also recommending a matched betting product that I was already using.
That gave me some confidence that they were legitimate.
So I bought the product and it was terrible…………………….. really really terrible.
Basically it was the martingale system on sports betting………………… and that was it.
I spent £50 for that.
Immediately I felt incredibly stupid and asked for a refund, which was denied.
Paypal wouldn’t issue a refund as it was a digital product.
After digging a bit deeper I came to realise that the review site was created by the same person that was creating these scam betting products.
I left a few comments on the fake review site to see if they would show up.
They never did.
I also went on a few betting forums and asked if anyone else had been duped by this site.
Quite a few people had exactly the same experience as myself so it became clear what this person was doing.
He was giving his own products favourable reviews on his “review site” and creating fake profiles/comments to give out the impression that they offered value and were profitable.
Then choosing to block any real feedback on the product he had created.
In hindsight I should have questioned why no other review site was recommending it?
If it was really as good as the review site made out then much like matched betting it would have been everywhere.
Sometimes you just have to learn from these things and move on.
So yeah this was quite an elaborate sports betting scam but its one to be aware of.
Buying “Fixed Games Information” Scam
“Hey bro you wanna get some information on a fixed game? £50 and it yours”
“I’m ok bro thanks.”
I still get emails/social media messages like these from time to time.
Sometimes its a dude from Africa ,sometimes Asia, sometimes Eastern Europe.
The old paying for information on a fixed game scam.
Now do fixed games in football and other sports exist?
Yes they certainly do but do these criminal syndicates that organise them go around harrassing people on social media or through email looking to sell that information.
Again just using some common sense, if you had information on a fixed game then you could make a tonne of money betting on it.
It would make little sense to go around offering that information and potentially alerting more people to the fact the game is fixed.
Learn Real Methods For Making A Profit From The Sports Betting Markets
There we have it 5 betting scams that you should be aware of.
Although there are a lot of ways to lose money in the sports betting markets it is not impossible to make a decent income with the right strategies.
If you are interested in making a profit from the sports betting markets I have written two guides to help you do so.
Ryan is a former mixed martial arts and kickboxing competitor. After finishing university he played online poker and taught English for a living in Thailand for a few years.
Upon returning to England his focus has been on making a living from sports trading, betting and arbitrage. Over the course of 5 years he has managed to make a six figure profit using the strategies discussed on this site.
Ryan runs the sports betting and trading website www.smartsportstrader.com