Betting fraud happens when you are made offers of inside information or ‘foolproof’ systems that guarantee you profit from gambling.
Betting fraudsters offer inside information that tends to focus on horse racing, but could involve betting on any sport.
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.
If you pay a subscription fee, you can have this confidential information sent to you. Or, 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.
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 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 don’t have inside information or unbeatable systems that guarantee winning bets. Nor will you increase your chances of winning through these schemes.
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.
Are you a victim of betting fraud?
- You’ve received a glossy brochure introducing you to a sports insider who has an outstanding track record in winning bets.
- You’ve paid a subscription fee and received “confidential” information.
- You’ve started to place bets based on the information you’ve received, or on someone else's behalf.
What should you do if you've been a victim of betting fraud?
- Report it to Action Fraud.
- Break off contact with the fraudster immediately.
- If you’ve reported the fraud to Action Fraud, 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.
Protect yourself against betting fraud
- Beware of any scheme that guarantees you will win at betting.
- Be vigilant about betting schemes offering insider secrets to you. Why would someone sell his or her secrets?
- Don’t place bets on behalf of someone else, particularly someone you don’t know.
If fraud has been committed, report it to Action Fraud.