Beware of Betting Scams, Warns New York Attorney General

In light of the Super Bowl LVI this weekend, the Attorney General in New York issued a consumer alert, asking sports fans that decided to place bets to be aware of deceptive online sports betting companies.

Online Betting Popularity in New York Grows, So Do Scams

On Thursday, New York Attorney General Letitia James issued a consumer alert for all residents that have decided to place bets on the upcoming Super Bowl LVI this weekend. The latest announcement doesn’t come as a surprise, considering that the popularity of online sports betting in New York skyrocketed since its launch early in January.

Before January 8, sports betting in New York was legal but restricted to land-based venues. However, since the online sports betting market launch, the state has set a record betting handle of $1.62 billion between January 8 and January 30. In other words, in less than a month, sports betting in the state completely surpassed sports betting handle records set in other states.

But according to James, there’s a downside to online sports gambling. The Attorney General outlined that since the launch of the online betting market in the state, a massive increase in misleading ads on social media and streaming sites was observed. Those ads bombarded New Yorkers offering “risk-free” bets, as well as significant welcome bonuses. However, the fine print of those offers revealed that they aren’t as lucrative as they sound.

“I urge all New Yorkers watching the Super Bowl and betting online for the first time to be careful — don’t let scammers game your gamble.”

Letitia James, New York Attorney General

James urged New Yorkers that decided to place their first bet to be careful of scammers. She explained that before placing wagers, bettors should read the fine print and research if the platform is legitimate. In conclusion, James said that online betting operators that mislead New Yorkers can expect to hear from her office.

The Attorney General Releases Tips Bettors Can Use to Protect Themselves

To help prevent “predatory” behavior from sports betting platforms and ensure the protection of the consumers, James outlined tips that can help New Yorkers. One of the most important tips is to read the fine print on bonuses and other promotions. The advertised bonus offers and promotions have strict rules listed in the fine print.

Some platforms advertise bonuses of up to $1,000, but to receive that amount, sports bettors would need to play through $25,000. On the other hand, certain bonuses and promotions are not valid for tournaments or exclude specific events. Risk-free bets can also be misleading as some operators offer money back. However, instead of receiving the money in their account, bettors would get online credit.

Checking if the online betting operator is legitimate is also one way users can avoid scammers. The Attorney General recommended sports bettors to read reviews for the website they have chosen either on Trust Pilot or by visiting the Better Business Bureau (BBB).

Last but not least, the Attorney General warned users that their accounts can be unexpectedly restricted. Online betting platforms can restrict a user from accessing their account without any warning. That may be the result of suspicious activity, but in some cases when “unfair advantage” is observed.