DAYTON — The next round of the 2023 NCAA Men’s Basketball Championship will resume Thursday night. It will be a big weekend for both fans and bettors.
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News Center 7′s Mike Campbell examines how gambling on March Madness has skyrocketed, along with the risks to your cash.
More than 3 million people will place bets on the NCAA Tournament at sportsbooks and casinos, even more people will use their people to place bets on the tournament.
Campbell spoke with an expert to learn what people should know if you are thinking about placing bets on the game.
“The plan is to look for red flags,” said David Pirtle, of Chargebacks911, VP of Enterprise Engagement.
He is an expert who works to mitigate fraud for businesses and bettors.
March Madness is one of those events.
“You run the risk of making bets or playing games on-line with illegitimate merchants,” he said.
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Pirtle told Campbell betting is more available and there are more casinos.
More states have approved legalized betting. It is commonplace at sportsbooks and on sports apps by computer or phone.
But that means everyone, including fraudulent companies, is looking for a piece of the action.
Pirtle said every legit company should have a license and be registered with the state. You can cross-check that with state records.
When it comes to a payment, in this case, he told Campbell a credit card is you friend.
“That is your least risky form of payment,” said Pirtle. “Don’t use crypto, don’t use alternative forms that can’t be reversed.”
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Campbell says Pirtle’s company and other watchdogs try to help legit businesses and bettors be made whole if they are victims of fraud but the idea is to avoid fraud altogether.
They say to use credit cards for gambling accounts.
Campbell reports the other red flags include:
- Never clicking on advertisements on a gambling site
- Avoid entering a gaming site through a random link your are sent
- Watch for random links and misspellings on sites or e-mails
If you follow these steps, you should be able to follow the bouncing basketballs from the First Four here in Dayton to the Final Four in Houston and maybe, make a little extra cash.
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“I think if everyone uses their heads, does the research, makes sure legitimate transactions are done, looks for red flags, it will look like any other on-line purchase,” Pirtle told Campbell.
Experts say sports betting, especially on-line, is becoming more like any other spending and you need to take the same precautions you take for any other on-line spending.
You can watch the regional semifinals of the NCAA Men’s Basketball Tournament Thursday and Friday nights right here on Channel 7.