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Gambling Scam: How to Identify? (part 2)

Author: Rode Arteaga
1 October 2019, 18:36
Votes: 1

The first article with gambling scam analysis contains a number of examples with tips on how not to swallow the bait. However, there is an awful lot of them. Below are three more examples of the most widespread gambling scams together with the ways to identify them.

Gambling Scam: How to Identify? (part 2)

Copyright

Today anyone can purchase a domain name and establish a website or write a book and make it available in some online shop. The point here is that anyone can create content nowadays. Therefore, people should not blindly trust everything they see, hear or read. Especially the information that can cost you money demands verification.

The tip is the following: analyze in detail the person, company, etc. that provides you information regarding gambling. Namely, the quality of their content, the credibility of their claims and so on.

It does not necessarily mean that every resource with gambling info is aimed at misleading you. But do not be fooled by the fact that someone appeared on TV – it does not necessarily mean that they are professionals in this field. It all comes down to the desire and, of course, money.

Read more: Why Gamble? Research Findings

Unclear math

This topic has already been highlighted in the previous article, but it implies much more information. The majority of people understand math only at everyday level. Some ‘experts’ are trying to make use of this situation and provide information with a misleading mathematical pattern. As a rule it looks like they are trying to convince you of something or make you buy something.

Unclear math

In the case of the Martingale system, there is always a piece of advice how to have a guaranteed win. Since you go on doubling your bet, you are sure to cover all the losses in case of winning. It seems unlikely that one can lose more than 4 times in a row. The truth is, it should not. Strings of losses happen much more often than someone could have thought. However, this information is never mentioned. As soon as you realize that you might face a losing streak which will leave you penniless, the math will no longer look so good.

Example:

1st spin - $10 - $10 (total betting amount);

2nd spin - $20 - $30;

3rd spin - $40 – $70;

4th spin - $80 - $150;

5th spin - $160 - $310 and this table can be endless.

Eventually, you will bet over a thousand dollars to win the base 10-dollar bet. Moreover, even if you do not end up broke, you will very likely run up against betting limits for a table.

The conclusion is simple: if you do not understand the math of the game to the full, either find out all the details about it or better walk away.

Read more: What is a Double Chance Bet?

This is fools gold

This is fools gold

The final tip concerning gambling scams is related to too attractive offers. If they look too good to be true, it means they really are. There are no guarantees in the gambling world. Gambling/betting companies are the ones that will definitely receive the profit, not players.

It is better to invest in yourself, read books on how to beat a casino in a legal way, study and acquire the skills needed to have a chance of winning (in poker, eSports betting, blackjack, etc.)

But keep in mind that the majority of casino games are impossible to be beaten in the long run. If someone says the opposite, they are either unaware of the facts or simply lying.

As mentioned earlier, all the applications related to gambling were deleted from Google Play and Apple Store as a result of a cybersecurity investigation.

Read more: Best Poker Books for Newbies

Read more: States with Zero Gambling Tax on Winnings (Part 1)

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