It is that time of year again when we get inundated with offers of ‘the best horse betting odds’ or ‘the most competitive horse betting offers’. You may have noticed this topic coming up a lot on social media this year. There has been a proliferation of new betting sites and apps that have opened up the world of horse racing to people who never really gave it much thought. However, this rise of interest in horse racing has also spawned a rise in the number of scammers out there trying to dupe unsuspecting people into depositing funds into their bank account with the promise of huge rewards.
To help eradicate this issue and protect you from being scammed, we have put together a comprehensive guide to what makes up the best horse betting odds, as well as some red flags that might indicate that you are being scammed.
The Difference In The Betting Odds
The term ‘betting odds’ is used to describe the level of competition for an event as compared to the level of betting on that event. So, if there is more money on one horse as compared to another, then these are generally considered to be ‘better betting odds’. More on that later.
Know What To Look For
One of the primary ways in which a scammer trying to dupe you into banking activity can do so is by obscuring the true odds of a particular event. This is why, when you come across the words ‘the best betting odds’ in an email or on a social media platform, you should always be suspicious. The following are some of the telltale signs of a scam:
- Hidden Fees
- High Roller Protection Scams
- Surreptitious Advertising
- Tempting Promotions
- Overwhelming Appeal To ‘Player’s Pride’
Look At The Small Print
When you are playing the games on a website or app, you will often see a small print disclaimer at the bottom of the page. This is where the legal ramifications of your participation in the game reside. It is usually pretty clear and straightforward, but you should still take the time to read it. One thing to look out for is the terms of service which will govern your participation in the game. Another legal disclaimer that you may come across when playing on a website or app is a ‘terms of use’ agreement. These are similar but separate legal documents that are a must-read to fully understand the rules and regulations governing your participation in the game.
Red Flags
No matter what, whenever you are dealing with a new entity or individual on the internet, you should always be on the lookout for potential red flags. Red flags are those things that, while not necessarily being an indication of fraud, might suggest to you that you are being scammed.
The more red flags you see, the more suspicious you should be. When looking at potential signs of fraud, it is beneficial to step back and look at the bigger picture. What are the legitimate reasons that this entity or individual might want to defraud you? It could be for money, or it could be for revenge or to harm you and your family. Keep that in mind, and be careful.
How Do You Calculate ‘Best Odds’?
There are a number of different ways that you might decide to calculate ‘best odds’. One way would be to compare the betting odds of a certain event in different books and find the best overall price. Another way would be to compare the betting odds of a certain event in different places and find the best overall price. Still, another way would be to look at the top horses of each gender and compare their prices between different books. If you want to compare the betting odds of a horse between two locations, it is usually best and most convenient to do so digitally. You can compare price movements in real time as opposed to looking at previous odds publications for the same event.
Summing Up
To conclude this article, let’s review exactly what we have covered. Best odds generally refers to the level of competition for an event as compared to the amount of betting on that event. However, this can be completely veiled by the scammers out there trying to steal your money. Always be suspicious when you come across the words ‘the best betting odds’ in an email or on social media. If you want to compare the betting odds of a horse between two locations, it is usually best and most convenient to do so digitally. Finally, always remember that the illegal betting world is a dangerous place, and you could be a target of crime simply because you have money in your bank account.