North Carolina Consumers Face Wave of Sports Betting Scams
The state officially legalized sports betting on March 11, after legislation to authorize this form of betting statewide was signed into law nine months ago. Now, mobile and online wagering on sports teams is taking off at a rapid pace. However, scams are as well.
Casino and sports betting apps were among the most targeted categories of mobile apps, according to Statista. The frauds target “users of these apps reaching an estimated value of almost 1.2 billion U.S. dollars in the examined period.”
What is Sports Betting?
Sports betting is the act of risking money on the outcomes of a sporting event with the ultimate goal of making money. There are a variety of factors that may determine how much money the better might win. This may include the amount of money one decides to bet, the odds of the game (established by the sportsbook in each state), the online betting site, and the outcome of the game.
Online, or mobile, sportsbooks are the most common ways in which a better often chooses to partake in sports betting. This is due, in part, to how easily a bettor can make a wager. In most scenarios, the bettor can choose to make a wager simply with a single click. In addition, many online sportsbooks also offer promotions throughout the year, such as offering free cash or deals on betting prices.
Avoiding Scams
Due to an uptick in sports betting scams, the Better Business Bureau has shared a variety of tips to avoid sports betting scams. In fact, the Better Business Bureau Serving Eastern Carolinas (BBB) advises consumers check licensing before downloading a sports betting app or placing a bet before the big game. Sites like the North Carolina State Lottery Commission will provide what businesses are already licensed in the state of North Carolina. Apps or businesses that are not licensed should be avoided.
The site also provides the following tips:
- Look for an established, approved service. Look for “white-listed” sports books that have been approved by your area’s gaming commission. In the United States, ESPN has a list of where sports betting is legal.
- Don’t fall for tempting ads. Ignore gambling-related pop-up ads, email spam, or text messages.
- Read the fine print on incentives. Gambling sites and apps often offer incentives or bonuses to new users and around major games. But like any sales pitch, these can be deceptive. Be sure to read the fine print carefully.
- Even legitimate sports betting sites have the right to freeze your winnings. Gambling companies can restrict users’ activity for “seeming to have an ‘unfair advantage’ or ‘irregular playing patterns,’” reports Lifehacker. Be sure to check the terms of service.
Check out BBB’s tips for spotting a lookalike website and downloading apps. According to the American Gaming Association, North Carolina is now the 30th state, including the District of Columbia, to legalize sports betting.
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