New Scam To Avoid - Sporting Arbitrage!

[PeopleWatcher]

You may be approached by a firm offering a PC Program that allows you to bet on horses by playing betting prices off against each other. A sort of home betting market, in which you can bet on winners and losers and act as a bookie to others. They charge £1500.00 for the software, and tell you that within a month you will recover this sum in profit. The rumour is its a PONZI betting scheme based on horse betting and not stock or share investments or movements.

You deposit your betting fund [your stake money and bank] your'e paid out at first, they then encourage you to deposit further funds to increase your turnover or to bet in larger amounts. They keep it going by robbing Peter to pay Paul, once its looks established and a few winners have been paid out they then do a runner with everyone's stake money. The Australian Authorities have about 20 firms currently under observation, or for which arrest warrants have been issued, It appears some Aussies have moved over here and are setting up offices in the UK. Remember the name Sporting Arbitrage and avoid.

 

[PeopleWatcher]

Follow Up:

Pasted from a warning website: Alan Seymour's Sports Arbitrage Review:
Thank you to Mr Seymour for this warning message. Recently a new 'flavour' of sports arbitrage scam has emerged: companies claiming to have robots that will execute your bets on your behalf.

I know, it sounds silly when it's put like that. It's hard, without laughing, to imagine robots sitting at a desk placing bets. Although this image is a parody, you'd do well to keep it in mind when confronted with any person, company or website that tells you they have an automated betting solution…

The 2 most prominent outfits currently operating this scam are called S XXXXXXXXX.com and q XXXXXXXXX.com Both are classic Ponzi schemes.

In this case they are using the lure of sports arbitrage with the idea of 'automatic betting' to create the dream of 'automatic risk free profits'. This appeals to people's greed and willingness to believe. The list below is a list of Australian companies who have been, who maybe, currently offering, Automated Betting Systems K/as as SPORTING ARBITRAGE in Oz. ,They claim the software bets for you, and selects the best bets.

LIST REMOVED BY ME TO CHECK OUT / [accuracy of list unknown] [thought to be correct]

 

[The Knowledge]

I am a Professional Sports Arbitrage trader and can confirm that all companies of this kind are scams, without a shadow of doubt. Whilst there is no hard evidence that it will be the case this time, all previous companies of a similar nature have disappeared with clients funds in the end.

The company mentioned by the OP are currently marketing in Spain where they will prey on retired people looking for better returns on their money. These people are scum of the worst kind.

These types of companies generally operate as either Ponzi schemes or just outright theft of money. Some may pay people returns for a while which results in them committing further funds and recommending the "investment" to to others.

 

[FIZIX Agency]

I think I got an email for something similar to this, I deleted it as spam. Thanks for the heads up, although I wouldn't use such a program anyway, I would assume anything like this was a scam by default anyway.