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Watch For Scams Newsletter, Issue #006 - Sports Investment Scams
August 05, 2009

Sports Investment Scams

Watch For Scams is dedicated to helping you avoid becoming a victim of fraud.

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Sports Investment Scams

The sports investing scams usually work by victims purchasing prediction software or they may join a betting syndicate and sometimes it also includes a subscription to a tipping service. Despite being called an investment scheme, they are a gambling scam and are also know as sports trading, sports betting, sports arbitrage, sports tipping and sports wagering.

The scam is marketed on the basis that the software uses methods to capitalise on different odds offered by different bookies with the final analysis providing a risk-free way to becoming wealthy.

The salespeople show graphs that suggest amazing returns for little work and no risk. It all sounds too good to be true – and it is!

Some of the victims have complained that:

* They paid their money and the software was never sent, or if they did receive it, it didn't work

* It was almost impossible to contact anyone about the scheme once you have purchased the software

* If they do reply, there are always reasons why the software is not working well

* They start demanding more money from you

* "Investment" money you have paid in can't be withdrawn from the syndicate

* If a refund is advertised with the system, it is impossible to claim

* The tipping information has been taken directly from the newspapers and betting publications

* Money disappears from betting accounts without you placing any bets

If you receive unsolicited offers [spam] to join these get-rich investment systems, just delete them. The only people who get rich from these systems are the scammers.

Common sense will tell you that if these systems worked as advertised, the newspapers would be full of success stories and people would be leaving their jobs on a large scale to become rich - the easy and risk-free way!

Also the owners of the software probably wouldn’t be selling it either – they would just be using it to make themselves and their friends richer and richer! Remember - always watch for scams!



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