Many self-proclaimed ‘tipsters’ try to convince you to subscribe with bulletproof systems that can ‘guarantee’ a profit on sporting events. 99.9% of the schemes or programs do not work as promised and buyers cannot get their money back. In many cases the supplier simply disappears.
Common examples of typical tipster-scams
The scammer will try to sell you a subsrciption package ( or single tip) for a tipping service. They will promise high returns or profits as a result. To convince customers they show very good-looking (high winrate/ROI/yield) historical betting history. Those betting histories are highly manupulated to make it look better. Winrates are ROI are boosted to make it look very profitable, but in real-life the numbers are much, much smaller. Tips they send to the customers are not the same they publish on the website.
Scammers like this are looking for one-time buyers – once they get the payment, they just dissapear (dont answer emails and calls).
Sales-Copy Tipsters Scam
The scammer has a ‘bulletproof’ and very convincing story about the tipping service (eg. fixed matches, 20 years expereince, bookie bans etc) and is trying to convince people to pay for his tips. He will promise high profits as a result. In most cases, tips they sell you are worthless nonsense with-rate very low and you are pretty much guaranteed to lose all your money. When you start losing, the seller just dissapears and you can just dream about getting your money back.
The scammer will try and convince you to become a member of a betting syndicate. You will need to pay a compulsory fee (often in excess of EUR5 000) to join and open a sports betting account. You will be required to make ongoing deposits to maintain the balance of the account.
The scammer tells you that they will use funds in the account to place bets on behalf of the syndicate. You, and other ‘syndicate members’ are promised a percentage of the profits.
The scammer targets small business operators, professionals, retirees or others with funds to ‘invest’. These schemes are usually promoted as business opportunities or investments at trade fairs, shows or via the internet. People may also be contacted via an unsolicited phone call, email or letter.
The scammer will use technical or financial terms such as ‘sports arbitrage’,’ sports betting’, ‘sports wagering’, ‘sports tipping’ or ‘sports trading’ to make these scams look like legitimate investments. Promotional material often takes the form of glossy and sophisticated brochures or websites that contain graphs or diagrams promising large returns for little or no effort.
- You approached to invest in a money-making opportunity that promises huge returns and risk-free profits.
- The sales pitch is accompanied by glossy promotional material showing extraordinary returns.
- The seller uses financial or technical terms to try and sell their product or scheme.
- You are told places are strictly limited and you need to buy now in order to secure your spot in the scheme.
- You are frequently called by salespeople trying to pressure you into buying the product or joining the scheme.
- Be wary of slick sales tactics, such as reports on past performance and graphs showing high returns.
- Check the reviews and fraud alerts from the internet (simple google-search helps a lot)
- Conduct an independent check on the company selling the service
- Make sure you know how to cancel any subscription service that you sign up to.