Originally posted 3/31/08
Phony Handicapper’s Scam Involving Sportsbook Atlantisbets Takes Online Sportsbettors to the Cleaners
SportsBookReview.com issues an urgent alert for players to be wary of fake handicappers working together with scam sportsbook Atlantisbets to defraud players.
Willemstad, Curacao—SportsBookReview.com (SBR) has issued a ‘Bettors Alert’ urging players to be wary of a scam involving phony professional scam-dicappers who share their bogus ‘hot picks’ with the victim, while steering players to no-pay sportsbook Atlantisbets. An earlier warning published as a newswire at SportsBookReview.com saved one player from losing $5,000 to this con, but unfortunately, additional victims have come forward.
Here is how the scam works: The scammer poses as an expert handicapper and establishes a bond with the prospective bettor. Then the bettor is lured into a partnership with the capper, with the ‘expert” providing the picks and splitting all winnings 50/50 with the player, who is steered toward opening an account at Atlantisbets. The bettor is coaxed into making a series of deposits, depending on how far the cappers can string them along, with the assurance that any funds lost to losing bets will be reimbursed. Players are also told that any money they deposit will be matched by the cappers who have an abundance of “promotional money.” By the time the scam falls apart, the bettors account is drained and the capper becomes unreachable. No-pay book Atlantisbets will then deny having anything to do with the scam.
SportsBookReview.com first alerted players to this operation on February 13, 2008 and a few days later a player wrote in that he was in the midst of the scam when he read the alert. The player had an Atlantisbets account with $5,000 already deposited but was able to stop a Western Union payment on an additional $5,000.
Another was not quite so lucky. “Atlantisbets.com is a big fraud scam,” he wrote. “They took me to the cleaners for thousands of dollars. This was a hard lesson for me to learn, but I don't want what happened to me, happen to anyone else.” A full version of this player’s particular nightmare can be found here.
SBR’s Bill Dozer commented, “Unfortunately using touts to execute the scam is fairly common. Once the capper makes contact with the newbie bettor, he works on gaining his trust and misleads him until the time is right. The deposit is never a cold sell. The book makes believe they aren't in the picture and when the scam goes awry, the tout’s cell phone goes dead.”
SportsBookReview.com advises all online sportsbettors to fully research any sportsbook before making a deposit. SBR publishes timely newswires on industry events and provides a searchable news archive and forum as well as the most comprehensive sportsbook rating guide available on the Internet.