What betting frauds offer
Betting frauds often focus on horse racing, but
could involve betting on any
sport. They offer rich seams of inside information or
‘foolproof’ systems that enable you to make a profit from
gambling.
How betting frauds work
You receive a glossy brochure introducing you
to an insider in the world of horse racing who is
consistently able to provide information that will give your
betting decisions a winning edge.
You can pay a subscription fee and have this
confidential information sent to you. Alternatively, you can
use your own money to place bets on behalf of the
‘expert’ and send him his winnings while also placing your
own bets. The stake you place on behalf of the expert acts
as your fee.
Why would somebody want to pass on this information?
An obvious question is: why would someone with inside
information want to pass it on to others when they could make
bigger profits from it by keeping it secret?
The fraudsters have an answer. They will say that they are
unable to place their own bets because they are
too well known to bookmakers. As a result, the
only way to profit from their inside information is by selling it
or getting you and others like you to place bets on their
behalf.
The fraudsters do not have inside information
or unbeatable systems that guarantee winning bets.
Nor will you increase your chances of winning through these
schemes.
How can I recognise betting fraud?
- Beware of any scheme that guarantees you will
win at betting
- It is against horse racing rules for people
within the industry to pass on sensitive information. Therefore, it
is highly unlikely that anyone who has inside information will
advertise the fact. Anyone who does is very likely to be up to no
good.
What should I do?
- Break off contact with the fraudster
immediately
- If you have reported the fraud to the National Fraud Reporting
Centre, keep any brochures, documents and
communications as possible evidence
- Be aware that the fraudster may have
sold your contact details to other fraudsters, who
will target you with other frauds.