Online Sports Betting Fraud and Fair-play
The recent arrests and the legal trap which has closed in on some online sports books and gambling websites have proved to be the bane of online wagering. Take, for example, the recent arrest of David Carruthers, the CEO for BetOnsSports, on charges of conspiracy, racketeering, and managing an illegal online gambling venture. This move has shaken up the online gambling community tremendously. So much was the impact that a major gaming conference which was to take place the following week in Las Vegas was cancelled. Most businessmen who deal in online gaming have decided not to come to the US for gambling conferences, because they fear being eyed suspiciously and subjected to unnecessary checks like criminals. In short, it is being echoed that America is averse to the gambling industry.
The prosecutors, on their part, have made their statement clear that they are not going to sit idle and watch the online sports betting and gambling industry blatantly flout the legalities of online gaming in the US. It is not just the sports betting and online gaming sites that have to bear the brunt, but also the companies who process the payments. The House of Representatives passed the bill that blocks the use of credit cards and bank accounts for online gambling. However, this move, which could conceivable have made online gambling virtually impossible, may not work, because people will still figure out ways to gamble with money. The prosecutors are not worried about the fact that money is being spent and wasted in this vice; what they are concerned about is where the money is being spent. They would not mind the money being lost on other vices like cigarette and alcohol as long as they are in the US, and do not go out of the country!
There was also another scam recently that involved a sports betting site, and an unsuspecting player. The vulnerable target was identified through a free online casino sports pick service. When the player called to get his free picks, the supposed pro handicappers from Vegas lured the player with a profit sharing deal. The player was promised a fifty-fifty share on all the gains made from specific bets placed in a joint account, where the sportsbook was supposed to cough up $86,000. The player was supposed to invest $18,000 in the joint venture. When the $86,000 did not turn up, the player was requested to deposit more to meet the deal’s requirements. When the player refused to deposit more and wanted a refund, the sportsbook announced that there was no condition for refunds as the deposit was forfeited.
At times it could happen that a player can make a bet and never get paid after he wins. Sometimes you may even have a player manipulating the system by registering for multiple accounts to reap multiple bonus amounts. Though there are systems to check such activities, it is always feasible if the wager and the online gambling industry work hand in hand to banish such fraudulent activities and indulge in 100 percent fair play.
The sports betting sites are, unfortunately, not as well regulated as online casinos. To stop fraudulent activities, it is better if the nation regulates online gambling and sports betting sites totally. Due to this measure, the economy can benefit from the taxes earned by the online gambling, and even the fraudulent activities can be curbed. At the same time, it is not right to single out every online casino and sports betting site as a conning business, because most of them are well managed and ethical.
In order to make sure that you are protected and not conned, you should register and play on a site that is popular with search engines and has the information about their secure systems well documented on their website. Also, the online sports betting site should have a registered customer service department in the US. You should look for third party websites and online forums that talk about the experiences of people who have visited a particular sports betting or gambling website. When you read positive referrals and experiences, you will be able to know which is an ethical online sports betting site and which is not. These reviews are not meant to frighten a person away from online gambling, but to make him alert and conscious about what he is getting into.
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