I’ve been approached by MoreMoneyReview to draw my readers’ attention to a possible scam.
I don’t really see myself as a consumer champion and would normally shy away from such stories. They’re just not what my site is really about.
But there are times when I think it is necessary to sound a warning. It’s no great secret that the betting industry attracts more than its fair share of questionable characters. But equally there is usually nothing to fear if we all apply some common sense principles.
Peter Philipson, a MoreMoneyReview reviewer, wrote to tell me that:
“One of MMR’s members is a victim [of the alleged scam] and is trying to get as much publicity about the guy as possible to save others falling prey and I wondered if you would mind mentioning the report.
He then went on to describe a service that would appear to ask new subscribers to send money for investment on the betting markets by one Chris Beek.
What particularly attracted my attention was that one of the poor people claiming to have lost thousands of pounds was in his 80’s, and provides twenty-four hour care for his disabled wife.
The story goes on at some length, and involves betting bots, racehorse ownership and a number of different email and web addresses.
It’s all far too complicated for me to follow completely, let alone verify, but the general conclusions are clear:
1. Always do your research carefully before investing in anything.
Reputable sites such as MoreMoneyReview, Betting Systems Truths, What Really Wins Money and (dare I say it?!) my own should be consulted for independent test results prior to spending a penny.
2. NEVER send money to an unregulated person or company for them to bet on your behalf.
It’s your money and you should always be completely in control of it.
Reputable services will:
- Submit to requests for independent live trials
- Only ever charge for services provided.
- Never request access to your betting bank.
As I write this, I’m conscious that it does sound like I’m stating the blatantly obvious.
But it is clear from this incident that it still needs to be said, as it’s easier than we might like to think to be taken in by a compelling sales pitch.
As for Chris Beek, I obviously have had no personal experience of his services.
However there are enough red flags in the MMR article to make me feel that that’s just as well.