Since we all know that the biggest scandals of sports betting were created by the athletes and sportspersons involved in them along with some professionals in the world of betting. But, scandals are not the only setback of sports betting. With the increase in the number of people using online betting, the number of scams are also increasing. You never know how you could get scammed anytime. You need to beware of the frauders who are trying to harm you all the time. It feels that why would someone scam you, but you shouldn’t submit yourself to this thought.
There are all kinds of people with excellent fraud plans which are just sitting and waiting to grab your money. In such a situation, you should not be ignorant and take every precaution step you can.
First of all, you should always choose a trustworthy website which is completely safe to use. Always use the most trusted websites like Livebid which use the safest gateways for any money related matters. Whether it is depositing or making transactions, livebid uses the safest gateways like PayTM, PhonePe, and Google pay. The priority of the website is to keep their users and clients safe. Therefore, the website has an excellent feedback system. You can reach out to the client feedback department and get any of your betting related problems solved within minutes.
But, you should also remember that not all websites are as good as livebid. Many websites claim to be trustworthy and safe but they might have malicious intentions.
Therefore, you should know about the common types of scams which you can fall prey of. Scams not only have ruined the whole reputation of online sports betting but are also equally harmful for you. So, to help you out with such a major problem, here are some common types of scams you should beware of.
First is Prediction software scams :
These scams are the most common type of scams and you might have already heard alot about them if you are not new to the world of online betting. When it comes to betting, we all plan to listen to our gut feeling but also feel like someone could tell us if it's the right choice to make. And therefore, most of the time we want to use something that can help us analyze historical trends or odds from the bookmakers. Unfortunately, some people try to take advantage of the situation by selling false sports betting prediction software’s.
Often, these false software systems are marked as a way for you to correctly pick the sports betting wagers. Most often, these types of scam software’s are aimed towards the people who bet on sports like cricket, football or other professional sports.
These software make false promises like you’ll get your money back that you will invest in the bet because the software is excellent at predicting wagers. One thing common in all the software of these types is that they claim to have some secret coding in their system which will predict all the events correctly no matter what.
They do not completely disclose what it is that lets them predict the wagers correctly and most they tell you is their system uses a mix of analysis on bookmaker odds paired with historical patterns. They will tell you about how the data goes inside their system and how their special calculation methods will make you win the bets. These are some common things scam and fraud software sellers say to make you believe that you can win any bet on this planet.
Unfortunately, some people actually end up buying these false claims to take the advantage of the software to win the bets. Most of these softwares programs use the data that you too can access.
You can find the data they use anywhere on your local sportsbook or online. You should always avoid scam software. These software are simply a waste of money. Also, keep in mind that if someone actually finds a secret formula to win the bets, they would never sell it and rather use it themselves to win the bets and make money.
Second type of scams are betting syndicate scams :
Betting syndicates are a great thing if you have a trusted group of people in the syndicate. But, there are many people out there who run betting syndicate scams. These betting syndicate scams make sure that you know you can walk away any time things stop feeling right and you are not bound by anything.
This is their first policy to win your trust. In these betting syndicates, you make a group with other people to pool your betting funds to place in sports bet wagers together. This group of people are usually friends with each other.
In other cases, these groups can also be made by professional gamblers to pool their million dollars. If you are ever asked to join a betting syndicate by anyone, make sure that you think about it twice and you fully understand how they will use their funds and keep a track record of everything.
Always take feedback from as many people as you can before joining a syndicate. Do not trust if the person approaching you is unknown. By doing this, you can actually save a lot of money and effort. The worst part is that these kinds of scams ask you to pool a lot of money to join the syndicate by giving false hopes.
After that, they also ask you to keep a balance maintained in the syndicate forcing you to invest more and more.
Joining a betting syndicate is a good idea only if you are really close friends with the people of the syndicate, know them well and can trust them with money matters. Otherwise, it is as bad as choosing a sports betting website other than Livebid.
One more common type of scam is sports investment scam. In these scams, frauders advertise their ability to make money by sports betting using the money people invest in them.
The common pitch of these types of scams usually include the false promises of huge returns and improvement of their portfolio. The people who invest in these scams end up losing a lot of money. These fraudsters usually target the people with a lot of cash to invest in their scams.
Therefore, their common targets are business owners, retired people or business professionals. The people running these scams will usually contact you via email, phone or other mailing services. These people use a lot of fancy terms in their marketing materials and pitch. The main goal of these people is to attract investors with high net worth.
It is not a good idea to invest in such sports investment offers until it is pitched by someone trustworthy and close to you.
Otherwise, do not trust such scams no matters how fancy financial terms they use. It is always a great idea to shy away from sports investment. Register Now : Livebid, secure betting platform for sports betting and casino betting.
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