10 Signs of Esports Scams Every Gambler Should Watch Out for

Last Updated on August 31, 2023 by

As the world of esports evolves and grows, it attracts more attention, and so do the risks associated with gambling on these competitive events. Of course, there is the N1Bet sportsbook with transparent documents and all trust seals — but not all casinos are as good as N1. In particular, there have been increasing reports of scams targeted at unsuspecting gambler. Here are solid red flags to watch out for.

10 Signs that an Esports Organization Might Be a Scam

Here are 10 signs that an esports organization might be a scam. Also, here is the best ethereum casinos list created by pro casino reviewers if you want to skip research. Yet, if you want to find the best sportsbook alone, here is the list of red flags that scream “avoid this site!”

1. Sportsbook mimicking 

Always make sure to do your research on the website before placing any bets. Look for reviews and feedback from other users, and be wary of websites that appear overly simplistic or unprofessional in design.

2. Offering unusually high odds or payouts

While it may seem tempting, these offers are often too good to be accurate and may be a scam to lure unsuspecting gamblers.

3. Requiring payment or personal information upfront

Legitimate betting sites will not ask for sensitive information such as credit card details/social security numbers before a bet is placed.

4. Insistence of unconventional payment methods

Beware websites that only accept obscure forms of payment, such as gift cards or cryptocurrency. These can often be untraceable and make it challenging to get your money back in the case of fraud.

5. Lack of transparency about rules and regulations

Reputable esports betting sites will clearly outline their policies and regulations for users. If a website seems vague or evasive about these details, it may be best to avoid placing bets with them.

6. Unresponsive customer service

Good customer service is essential, especially when real money is involved. A lack of response or helpfulness from customer support could be a red flag for potential scams.

7. Suspiciously high win rates

While luck always plays a role in gambling, consistently winning at unusually high rates could indicate shady practices, such as rigging the odds in the scammer’s favor.

8. Limited withdrawal options or delays in receiving winnings

Legitimate betting sites will offer various withdrawal options and promptly process any winnings. Any delay or difficulty in collecting your earnings could signify potential fraud.

9. Pressure to continue betting

Always remember that gambling should be a form of entertainment, not a way to make quick money. If you feel pressured or coerced into placing more bets, it may be a scammer attempting to manipulate you for financial gain.

10. “Guaranteed” wins

There is no surefire way to guarantee success in gambling, so promises of guaranteed wins should always be met with suspicion and caution. Trust your instincts and research before placing bets with any website or individual.

How to Spot and Avoid Scams in the Esports Industry?

One common scam in esports is fake tournaments or team recruitment. Scammers create fake websites or social media accounts and advertise fake games or team opportunities, asking players for personal information or entry fees. To avoid falling for these scams, always do thorough research on the tournament or team before providing any personal information or paying any fees. Look for a proven track record and legitimate contact information.

Another scam to watch out for is phishing attacks. Scammers pose as legitimate sources (such as a teammate or tournament organizers) and try to acquire personal information, such as login credentials or credit card numbers. If you receive a suspicious message, confirm its authenticity with the supposed sender through another form of communication. 

Additionally, be wary of anyone offering quick and easy ways to increase your in-game rank or level. These are almost always scams and can result in a hacked or banned account. Instead, stick to legitimate means of improving your skills and gaining rank.

Trust your instincts and protect your personal information and finances regarding esports opportunities. Research opportunities thoroughly and only provide personal information after confirming authenticity. 

Steps to Do if You Fall Victim to an Esports Scam

If you find yourself scammed, the first step is to call the authorities. That could mean reporting it to your local police department or filing a complaint with organizations like the Federal Trade Commission.

Additionally, inform any relevant parties in the esports community, such as tournament organizers or team owners, and tell them of the scam. Finally, gathering any evidence you may have, such as screenshots or emails, is essential to support your claim and aid in the investigation process.

In some cases, there may be avenues for financial restitution – for example, contact your credit card company if money was stolen through fraudulent charges. Prevention is key in avoiding becoming a victim of an esports scam, so thoroughly research and understand any deals or transactions before committing to them.

Apart from this, if you want to know about: What Are the Best Casino Games for Different Gamblers? then please visit our Gaming category

Hassan Abbas

Hassan Abbas is a finance expert with a knack for simplifying complex financial topics for his audience. With 6 years of experience, he offers practical advice and actionable insights to help individuals achieve financial freedom and secure their financial futures.

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