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Statistics obviously does play a large part in sports betting and is vital to ending up profitable. If there is statistical software out there to help that charges, make sure to do your research. Reputable companies should have a x day trial period or charge smaller monthly charges. Most sports have options to get key statistical data that is relevant to that sport and is free. These are either run by the league itself or websites that make money in alternative ways like ad revenue.
But I was young and dumb, I thought I had just found an easy way to make some money on the side after just leaving school and was short on spending money. It was a sports betting system by John Morrison. I am happy to say that I have never been sucked in again and fortunately for me, did not lose a large amount of money.
It was offering a huge win rate that could not be achieved. After only doing 2 bets as he was reporting different information and I started to smell a rat. He wanted me to sign up for one specific website, that was not Australian based because it offered the ability to buy handicapping points to make the bets following his system.
I was extremely lucky to have come out only losing a few hundred dollars but I could have been a lot worse. They will continue this process until you sign up. By the 5th winning tip in a row its impossible for anyone reading to not be intrigued. This is when the time comes for the scammer to get their money. They will either ask for payment before getting the next tip or may ask for a yearly fee and with the recipient getting 5 tips in a row they may be willing to part with big money compared to just paying for random tips.
First of all, this is illegal and you risk getting yourself in serious trouble just to make some quick money. Secondly if a match has been fixed there is a risk that it can be found out and if this happens then your bet will not be paid out. Thirdly they might not have any of this information and are just gaining your trust for other reasons. This has been increasing promoted on Facebook, but there are also groups designed to show these scammers and let others know not to get involved.
Bill Vlahos faced the Melbourne Magistrates Court on Wednesday morning on charges connected to The Edge punting club, which collapsed in December While researching this topic I also found a Youtube video from Laybet and although just from this I was not convinced I can see how just seeing one video can get people intrigued.
The more people complaining about a scam the more likely you can prevent someone else from falling into the same trap. Have you heard of any other types of scams or major betting scams in Australia? Let me know in the comments so I can add to the article and let more people know.
The spruikers tell their targets that they are one of a small number of people selected for membership of a betting scheme or to buy a licence for software, which will enable them to predict outcomes of sporting events, horse races or stock market movement.
The theory of arbitrage betting is based on placing a bet on both or all participants in an event and anticipating a return greater than the outlay. For example, scheme operators may claim that by betting with different bookies on both teams participating in a sporting event, or all the horses in a race, that money will be won regardless of the outcome.
Typical stories include people paying high entry fees to find no bets are being placed on their behalf and their money has disappeared, or not being able to access your account balance until the initial investment amount doubles, which never happens. Ask yourself this: if it was possible to make big bucks through sports arbitrage or prediction software, why would those promoting the scheme need to recruit others?
And if they were making all that money why would they offer others the chance to share the wealth?
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Promotional material often takes the form of glossy and sophisticated brochures or websites that contain graphs or diagrams promising large returns for little or no effort. We encourage you to report scams to the ACCC via the report a scam page. This helps us to warn people about current scams, monitor trends and disrupt scams where possible. Please include details of the scam contact you received, for example, email or screenshot.
We also provide guidance on protecting yourself from scams and where to get help. Investment scams Investment scams involve getting you or your business to part with money on the promise of a questionable financial opportunity. Skip to content Skip to navigation Skip to search. Breadcrumb Home Types of scams Investments Listen. Investment scams. Investment scams involve getting you or your business to part with money on the promise of a questionable financial opportunity.
Don't place bets with a scammer this spring racing season. The year old career criminal who has been arrested in four different countries was put in handcuffs while walking on the beach in Port Douglas. Foster is expected to be charged with multiple fraud-related offenses that center around claims from a company called Sports Prediction that alleges there was money delivered to him from bets he did not place.
Peter Foster now faces multiple fraud charges. It was moored in Port Douglas and is an ocean-going vessel, which suggested to me that he was getting set to leave Australia for good. Foster has also been on the run from authorities for his alleged role in a group called Sports Trading Club committing another international gambling scam.
Foster will be held at a Port Douglass police station until detectives escort him across the border to Cairns and will await his extradition hearing in court on Friday. Adia Randall Adia has a background in sports writing and strives to provide content that gives the readers accurate information.