GamingNews

Sports Betters Conned By Scammers

[easy-social-share buttons="facebook,twitter,google,more,pinterest,linkedin,reddit,digg,print,mail" morebutton="1" morebutton_icon="plus" counters=1 counter_pos="hidden" total_counter_pos="leftbig" style="button" nospace="no" facebook_text="Share" twitter_text="Tweet" google_text="Plus" pinterest_text="Pin" linkedin_text="Link" digg_text="Digg" print_text="Print" mail_text="Email" reddit_text="Link" template="metro-retina"]

shutterstock_114504847Sports is big business in Las Vegas. Every major casino has a sports book. We recently reported on the world’s largest sportsbook located at the Westgate. Millions of dollars are wagered each year at these establishments. However, now there is a new twist to sports betting. It is not betting on sports, but rather investing in sports. The problem now is that there is a lot of misinformation out there that has opened doors to scammers.

If you are old enough to read this article, you have probably been scammed at one time or another. It is something we all hate. In today’s world scams and cons are more sophisticated than ever. We want to warn you about one of the newer cons in Nevada.

There are, in Nevada, some legitimate “entity-betting funds.” These are somewhat like mutual funds. In this case though, investors are betting on the hoped profitability of sports betting itself. These funds, certain ones, are legitimate. They are strictly regulated and have potential profits as well as possible losses, just like any stock or bond.

While in Las Vegas or other Nevada casinos, you may be approached by a silver-tongued salesman promising you incredible returns if you will invest in his equity-betting fund. Sounds great, but how do you know that the one he presents is even real? If you are not familiar with investing in general, you may fall prey to this scam. The problem is that there are too many fraudulent companies that are sucking in the money of the uninformed or gullible. Don’t let it be your money.

If you like the idea of using these funds for investments then it behooves you to make sure that you are dealing with the real deal. CG Technology has been reported to be one company in Las Vegas that  can offer investment opportunities in sports betting. It currently has less than a dozen entity-betting funds in its portfolio. Again, we urge you to do your homework before you invest.  We have not checked out this company. You can find CG Technology’s website here. Another company, that was the first approved by the State is Sports Entity Wagering. You can check them out here.

 

[easy-social-share buttons="facebook,twitter,google,more,pinterest,linkedin,reddit,digg,print,mail" morebutton="1" morebutton_icon="plus" counters=1 counter_pos="hidden" total_counter_pos="leftbig" style="button" nospace="no" facebook_text="Share" twitter_text="Tweet" google_text="Plus" pinterest_text="Pin" linkedin_text="Link" digg_text="Digg" print_text="Print" mail_text="Email" reddit_text="Link" template="metro-retina"]

 

Join the conversation!

We have no tolerance for comments containing violence, racism, vulgarity, profanity, all caps, or discourteous behavior. Thank you for partnering with us to maintain a courteous and useful public environment where we can engage in reasonable discourse.