Dangers of Online Betting Fraud and Sportsbook Fraud

Dangers of Online Betting Fraud and Sportsbook Fraud

Finding an honest online casino seem like a very hard task these days, but it’s not impossible. Experts estimate that 25% of online fraud is committed through casinos and online gambling. This is a huge amount of fraud and creates 1000’s of victims.

Fraudulent online betting sites or casinos often establish their online presence by creating elaborate sites and use paid advertising to find their clients (victims). They don’t stay in business long, so the sites never get natural ranking on search engines or reviews or recommendations from other online gamblers. They rely on paid advertising to find their clients and a flashy site to gain their trust fun555.

Unfortunately, consumers seem to trust companies with more elaborate sites, because they think they cost a lot of money and they a company must be legitimate if they can afford such and good looking online casino. The reality is that most of these scam sites are build using a standard template and casino software than can be purchased for a few hundred dollars.

These companies establish business in a country that has no laws regarding online gambling and are smart enough to shut down and start a new site before the authorities figure out their scamming activities. Many times, the accounts and websites are shut down before the first complaint even makes it to the hands of the authorities. The reality is, these companies can have 100’s of sites running at once and many “shell companies” hiding and protecting the real owners. This allows them to scam people over and over again without getting caught.

Not to mention, these companies know which countries will come after them for these crimes and which will not. In some cases, they authorities of the country may even be on the payroll. This makes it very difficult to catch these people.

Surprisingly, the biggest scam is not part of the gambling or betting at all, it’s about getting the credit card numbers and personal information. These scammers use these numbers to make fraudulent purchases or to steal the identity of the player. Instead of taking a few hundred dollars in a lost bet, the scammer now has access to 10,000’s in good credit.

The only up-side to all of this, is that the credit card companies are responsible for this type of debt, not the card holder. So as long as you report the debt in a timely fashion, you will not need to pay back the debt these scammers rack up. It will create a mess of your credit and you may need to spend several days or weeks straightening things out, but in the end, you should be ok.

Legitimate online casinos rely on privacy, fair odds, and word of mouth to keep their clients, so when a player finds a good online casino, they don’t need to worry about their private information. Once a player has enough experience, they will see a similar return on their investment as in a normal (not online) casino that is heavily regulated.

The point is, finding a trustworthy casino can be a hard task, but once you do, your private information should be well protected and you should be able to experience the same joy and excitement as you would at the tables in Las Vegas. Just be careful and try to find reviews from other gamblers/betters and use websites that have already established themselves as a reputable site.

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