What it is
When you are made offers of inside information or supposedly fool-proof systems that guarantees you will profit from gambling on horse racing, football or a range of sports events.
- Beware of any scheme that guarantees you will win; gambling is, by its very nature, staking money on an unknown outcome.
- Don’t place bets on behalf of someone else, particularly someone you don’t know.
- Ask yourself why anyone would sell their secrets if they had inside knowledge. If it sounds too good to be true, it probably is.
Spot the signs
- You get a glossy brochure introducing you to a sports insider who has a track record in winning bets.
- You’re asked to pay a subscription fee in advance to get the confidential information that will give you the winning edge.
- You’re told the tipster is unable to place their own bets because they are known to bookmakers; they need you and others like you to place bets on their behalf.
How it happens
You’re offered inside information that tends to focus on horse racing, but could involve betting on any sport. Fraudsters don’t have inside information or unbeatable systems that guarantee winning bets, nor will you increase your chances of winning through these schemes. In some cases, fraudsters will use false testimony from others who they claim have taken on their tips, or give examples of races where they have been right every time.
You’re asked to pay a subscription fee to have the supposedly confidential information sent to you. You may be given a free bet to get you started – this is either a bet on a firm favourite, or they've secretly given tips to other victims for all the other possible outcomes in the same race or event, so that one victim is bound to win and believe the system works.
Fraudsters will keep the advance fee or your bet or subscription, and break contact if your bets lose.
It's against horse racing rules for people within the industry to pass on sensitive information, so it’s very unlikely that anyone who has inside information will advertise it.
How to report it
If you’ve been approached by someone offering inside information, or you know someone who’s offering it, report it to us online or call 0300 123 2040.