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Sports betting is big business – for scammers as well. According to a few BBB Scam Tracker reports, con artists are posing as self-proclaimed handicappers who use insider information to place guaranteed bets on upcoming games. Don’t fall for it! Here’s how to avoid these “scamicappers.”
How the scam works
You come across a social media post or get an email about an experienced handicapper with a record of picking consistent wins. This handicapper is allegedly using insider information to place sure-thing bets on upcoming games. For a fee, you can get in on it too. This person is so confident about their information that they even offer you a money-back guarantee. For example, they may promise you free picks if you make a losing wager.
While it sounds like a safe bet, you’re really dealing with a scammer. These “scamicappers” had no intention of ever providing a refund or free picks. And their “insider information” is fake, too.
BBB Scam Tracker has received multiple reports about this con. For example, one person reported paying for “sports betting picks with money back guarantees.” However, the handicapper never refunded the losing picks. The con artist “also lies about his winning record and is a true scammer in every sense of the word.”
How to avoid these scams:
- Avoid sports handicappers. A handicapper’s goal isn't to win bets for their members, it's to get people to buy their picks. Once you've purchased their picks, the handicapper has already won. It doesn't matter if the pick wins or loses, the handicapper keeps the payment.
- Don’t believe promises that sound too good to be true. If a handicapper promises you will never lose a bet, or they will refund your money any time you do, think twice. Scammers love to entice their victims with get-rich-quick schemes. If it sounds too good to be true, it probably is.
- Don’t fall for tempting ads. Be wary of gambling-related pop-up ads, email spam, or text messages.
For more information
Learn how to spot more sports betting scams. Visit “10 Steps to Avoid Scams" to learn more ways to avoid common scams. Know how to identify fake emails and learn how to spot a scam by visiting BBB.org/SpotaScam.
Report suspicious activity and dishonest business practices to BBB.org/ScamTracker.