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Sports investment scams  

Sports ‘investment’ scams known as sports arbitrage, sports betting, sports wagering, sports tipping or sport trading are usually promoted as risk-free money making schemes which involve purchasing prediction software or entering into a betting syndicate. They usually require large up-front costs and ongoing fees and charges.

There are numerous complaints about these schemes such as the software doesn’t work or isn’t received, can’t withdraw money from the syndicate, the company demands more money etc.

Here are some tips to remember:

  • If you are asked to invest in a sports ‘investment’ scheme, be very cautious.
  • If the offer sounds too good to be true, it probably is.
  • Get-rich schemes don’t work! The only winners are the promoters.
  • Don’t be pressured to buy. Always get independent advice. Scammers lie.