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This website is an excellent source, but so are sports betting forums and a simple Google search on the prospective shop. Sportsbooks and online gambling sites of all kinds regularly send out promotions in mass emails or newsletters. They may also call players offering them these promotions. This in itself is fine, but the issue here is that scam sportsbooks swear by these tactics.
They send out mass emails hoping to get a bite, and call players at home with offers of a nice deposit or reload bonus. Usually, players have given this information to the sportsbook previously, but other times managers may share marketing lists. This often happens when a sportsbook goes under. The bottom-line for players is to be wary of any email promotions, but especially telephone offers.
In fact, extremely lucrative bonus offers are an almost exclusive trait of a scam sportsbook. Almost every online sportsbook in existence offers some form of deposit bonus. These can be quite large even in the US market, which has been subject to harsher treatment compared to regulated sites. The most respected and reputable online bookmakers have large deposit offers. However, deposit bonuses are only good if they are actually honored when players decide to request a payout.
Sites can offer players bonuses because they come with a rollover rate. This rate is the number of times the bonus and usually deposit amount must be wagered until bettors can cash out their funds. The average rollover is usually between 3 and 4 times the amount of the bonus and deposit. A rollover of 2x or fewer is dangerous to the overall longevity of the sportsbook. Essentially, they are putting themselves at risk by giving away too much free money. On the opposite end, a rollover of 5x or more stacks the deck against players.
In fact, a lot of time it means just the opposite. All sportsbooks have terms and conditions that must be agreed to when players sign up, but whether the sportsbooks follow these rules is a different story. This can be done through a forum, or watchdog site like Sportsbook Review, who actively negotiate with management in some cases. Scam sportsbooks void winnings for a variety of reasons.
They often still decide to rule against players, despite heavy disagreement from the community. The public relations hit they take far outweighs the funds in question in the vast majority of cases. This brings us to our next topic. This seems like an obvious red flag, but you would be surprised how often this is overlooked. A clear sign of a troubled sportsbook is extended payout delays or working out payment plans with bettors.
One aspect that is overlooked is the type of bettors who are being paid. Is the sportsbook quickly paying out lower balances, but giving the run-around to those that have beat them for big money? There are many sportsbooks which operate this regularly.
They still pay most players but will do their best to slow-pay or void winnings of their largest winners. They just need to pay them their winnings and send them on their way. You can tell a lot about the makeup of a shop by how they treat their biggest winners.
The worst part about these situations is that those who are new to sports betting or online gambling are the most susceptible. If their first experience betting sports online is a poor one, they may swear off the industry for life.
There is still a lot of money to be made betting offshore, but becoming a profitable sports bettor is hard enough without having to worry about getting paid. The best way to keep yourself away from potential sportsbook scams is to keep up with the latest news and happenings in the industry. We will do our best to keep bettors informed, but doing your own independent research is important. Still not sure about the safety and security at online betting sites? I would avoid review sites, or at least use them with caution.
For many of them, their word is influenced by dollar signs. They knew at least weeks in advance that BetIslands was going to tank, but encouraged them to take deposits anyway. And for what? What did they get out of it? SBR is a large company, too. You never know. So take their recommendations with a grain of salt. What I recommend doing instead is creating a group of guys that bet on sports online regularly.
The idea here is that you have a group of maybe guys that you can pass tips back and forth with, specifically for where to bet and what books to avoid. All Rights reserved. Scam Sportsbooks Sportsbooks prey on guys like you and me everyday. The following are some of the biggest scams in online sportsbook history. BetCascade — BetCascade is an interesting case because at one point they used to have solid ratings and reputation. But now… they owe tens of thousands to players. EZ Sports Betting — This is a now out-of-business book.
They share the same building, phone numbers and staff, and evidently the same ethics and morals, too. GetWin — GetWin is known for leaning on their terms and conditions, accusing players of being betting syndicates or professionals, and then voiding their winnings.
Now what does that tell you? Retroactive Terms — Sportsbooks will go back to their terms and conditions and change them to favor them over the player. Term Technicalities — The book will look for any loophole, no matter the size, in attempt to escape paying a player their winnings. For example, most books have a clause on professional betting or syndicates. However, those player types are subjective — enough so that books can use them against you.
Huge Promotions — Many books have huge promotions in terms of bonuses, future bets, etc.