With the number of online bookmakers increasing each day, you’re likely to come across more and more bookmaker and betting scams.
Whilst it’s a shame these scams exist, it’s part and parcel of the online betting world and the online industry as a whole. It’s therefore vital you know what to look out for to avoid betting scams.
Read on below to find out how you can avoid betting scams. Plus we check out some of the telltale signs that something isn’t right.
Bookmaker and betting scams
With the online betting industry at an all-time high, there are hundreds of companies all after a piece of the action.
As I mentioned earlier, new bookmakers are continuously popping up around the internet.
You can bet that a fair share of these platforms are scams built with the sole purpose of scamming individuals out of their money and private information.
Unfortunately, many people lose a lot of money via these platforms. These bookmakers disguise themselves as reputable companies in the aim of tricking bettors into placing bets or deposits that they’ll never reward.
Whilst some of these scams are very effective at pretending to be trustworthy betting sites, certain telltale signs may give the game away and help you avoid getting scammed.
We’ll check out some of the things you should watch out for in the next section.
Things to consider and watch out for
So we know there are plenty of bookmaker scams out there, but what can we do about it? Here are the main things to consider and watch out for:
- Only use regulated betting sites
- Double-check all terms and conditions
- Ridiculous sign-up offers and bonuses
- Listen to what others are saying
Let’s look into these in a little more detail.
Use regulated betting sites
Using reliable, well-regulated betting sites is an essential part of avoiding any scams in the betting industry. Only use betting sites that have a license from the gambling authorities. In the UK, that’s the Gambling Commission.
Companies spend millions on becoming fully regulated meaning the ones that are, are generally serious outfits.
In the UK, the Gambling Commission is in charge of regulating the industry and the application process is incredibly stringent and costly. Only the most reputable companies that offer a reliable, trustworthy service can afford to become licensed by the Gambling Commission.
The betting scams out there won’t even think about doing this as it’s far too costly. They’re looking for the quick wins.
You can check whether a bookmaker has a Gambling Commission license by reading the about section or the footer of the website. The bookie should be able to show proof that they’ve been regulated and for how long.
Here’s what Smarkets show in the footer of their website.
You can also visit the UK Gambling Commission website which lists all bookmakers that are regulated and that have applied for a license.
In general, you’ll be able to trust all the regulated sites but I still recommend you use the other following strategies to ensure you’re using a reliable bookmaker that isn’t going to scam you.
Double-check bookies terms and conditions
For a successful betting strategy in 2019, you must double check and check again the bookie’s terms and conditions.
The betting industry is not very transparent. Therefore this is a vital step if you want to avoid any betting scams in 2019.
Here are some of the key terms and conditions you should keep an eye on:
- Bookmakers promotions
- Minimum withdrawal amounts
- Rollover requirements
Whenever you are in doubt about something, I suggest you check the terms and conditions.
The reputable bookmakers are required to state all their terms in the small print, making it clear for their customers.
Bookmakers that are trying to scam you are likely to leave out vital terms and conditions. However, if it’s missing this should throw up a red flag and instantly tell you to avoid that bookmaker.
One of the key areas you should check out is the withdrawals the bookmaker offer. Withdrawals should be quick and easy. If your withdrawal is taking longer than expected or the bookie is making excuses, you should get in touch with the appropriate gambling authorities.
Quality bookmakers want to provide the most reliable customer service and that includes providing quick and reliable withdrawal times.
Scam betting sites do not have any interest in paying out winnings and they’ll continually make excuses as to why they’re not paying.
Whilst the process of going through the small print is time-consuming and somewhat boring, it’s a crucial part of any betting strategy and may save you countless times in the future. It has for me!
Ridiculous sign-up offers
The next thing you should keep an eye out for when it comes to betting scams are unrealistic sign-up offers. These are the promotions that offer £1000s in free bets when you sign up.
Whilst it’s fair to say the betting industry is built around a bonus culture, you’ve got to watch out for the ridiculous offers that you’re unlikely to ever profit from.
A sign-up offer may look very promising on the outside but after looking into the small print there may be certain restrictions and rollovers that you must complete before you can withdraw any winnings.
Betting scams are likely to use this method to entice bettors in and then take all of their money.
This is common for matched deposit bonuses so be mindful when opening a new bookmaker account that offers this sign up promotion.
Overall, checking the terms and conditions is essential if you want to make your betting strategy a success in 2019.
Listen to other users
One of the best methods to suss out the scams is to find out what other punters make of a bookmaker. There’s nothing like an actual review (more on this next).
You’ll usually be able to find this kind of information in betting forums and blogs where punters discuss all things betting.
A simple question to an experienced bettor could save you a lot of money.
Talking of listening to other people’s experiences, why not read several bookmaker reviews to get the full low down.
Check bookmaker reviews
One of the best ways to avoid betting scams is to check bookmaker reviews. I recommend you do this before signing up or depositing any money into a new betting account.
This is a great strategy to find out what other bettors think of the bookmaker.
Aim to find honest, in-depth reviews and keep an eye out for biased reviews that are probably sponsored by the bookmaker.
The best reviews are the ones that have actual customer reviews and ratings.
Brand recognition plays a huge role in modern-day betting and the most reputable companies have spent years building this up. If you’re at all concerned about betting scams, it’s best to stick with these trustworthy bookmakers.
Avoid bookmaker and betting scams
Betting is a great hobby that provides great entertainment. Nowhere in that should you lose out to dodgy bookmaker and betting scams.
However, we all know they’re out there so it’s best to watch out for common telltale signs. Here’s a recap of things to consider:
- Use regulated betting sites
- Check all terms and conditions
- Avoid unrealistic sign-up offers
- Listen to experienced bettors
Use these tips and you should be safe when it comes to betting scams in 2019.
Have you been caught out by a bookmaker or betting scam recently? Let me know by leaving a comment below right now.