The Super Bowl may be over for another year, but that doesn’t mean you’re scam free the next time you want to place a sports bet online. The world of online gaming is full of fake websites and apps trying to steal your money. And sports betting is no exception. There’s no question that the popularity of online sports betting has skyrocketed in recent years. According to the American Gaming Association, gross gaming revenue from sports betting amounted to $10.9 billion in 2023. Access to this much cash is of course drawing the attention of scammers who want a piece of the action. And here’s how they’re trying to get it…
Recently, a number of people seem to be falling for fake sports betting websites that promise sign-up bonuses or free bets that seem too good to be true. They may also offer guarantees on winnings to entice users to deposit money quickly. Some of these sites will offer fake odds and betting lines, designed to manipulate people into thinking they have a better chance at winning. To the victim, everything seems normal and the website looks legit. However, once the victim deposits money and tries to cash out any winnings, they are unable to do so. Surprise, surprise!
According to the Better Business Bureau, some of these scammers will even ask you to deposit more money before they’ll give you access to your winnings. Fool me once…fool me twice…Another tactic is to have you hand over personal information in order to prove your identity. Only then will they release your funds. The only thing that will happen if you give them this information is your stolen identity.
How to Protect Yourself From Online Sports Betting Scams
- Do your research and always check reviews from independent and reputable sources before trusting a betting site.
- Verify that the website is licensed and regulated by a recognized authority.
- Use secure payment methods that offer protection and chargebacks (e.g., credit cards).
- Watch out for online gaming popup ads, email spam, unsolicited text messages, unusual offers, poorly designed websites, and lack of transparency.
- Make sure the website has SSL encryption (look for “https://” and a padlock icon in the URL bar).
