In online betting scam, man loses Rs. 58 cr! Here is how you can stay safe-check tips

To so many other scams, now add one on online betting. Even as its popularity is rising in India, it has grown a dark side too, as a Nagpur businessman discovered.

Nagpur Businessman duped of ₹58 crore in a shocking online gaming scam. (Pexels)

With the increasing numbers of smartphones and easy access to the internet, the trend of online gaming in India has witnessed a tremendous surge. From casual entertainment to real-life money-making opportunities, online betting apps have captured the attention of millions. The country had a staggering 421 million online gamers last year, a clear indication of the immense potential of the gaming market and the growing fascination, not just for the youths, but also mature adults.

However, this popularity comes with a dark side as well. The surge in online betting apps has paved the way for the rise of various scams. The fraudsters prey on unsuspecting players, causing financial losses and distress. Recently, an unfortunate incident unfolded in Nagpur where a businessman fell victim to an online betting apps scam, losing a whopping Rs. 58 crore at the hands of a friend who exploited him.

According to a report by ANI, the businessman from Nagpur was lured into gambling on an online platform, only to be deceived and robbed of his wealth. 

After reporting the incident, the police swiftly took action, raiding the suspect's residence and recovering Rs. 17 crore in cash along with 14 kg of gold. The suspect, identified as a bookie, had masterminded the online betting platform to orchestrate the elaborate fraud.

This disheartening event serves as a stark reminder that caution is imperative while engaging in any online activity, especially of a financial nature. Whether you are a seasoned player or a novice, safeguarding yourself from potential scams is essential.

Here are some vital tips to ensure your safety online:

1. Exercise caution with strangers

In the virtual world, you are likely to encounter numerous strangers offering enticing schemes and opportunities for quick money. It is crucial to remember that such promises are often too good to be true and could be scams in disguise. Never trust strangers with your finances, and avoid investing money solely based on someone's persuasion.

2. Watch out for in-app purchases

Many games feature in-app purchases, offering exclusive items and advantages within the game. However, scammers may attempt to deceive you by promising rare in-game items in exchange for real money outside the app's official payment channels. Always make in-app purchases through the game's legitimate platform to avoid potential scams.

3. Understand the risks

If you indulge in online gambling games like Rummy and Poker, it is crucial to acknowledge that these activities carry inherent risks. Winning is not guaranteed, and losses are likely. Take the time to thoroughly read and understand the terms and conditions of any game before participating.

4. Protect your personal information

Safeguard your identity by using a made-up in-game name instead of your real one. Never share personal information with strangers online, as you cannot be certain of their intentions or how they might misuse your data in the future.

5. Be careful

Be careful about what information you share online. Don't share your personal information, such as your phone number, email address, or bank account details, with people you don't know.

In short, by following these simple yet crucial tips, you can enjoy your online gaming experiences without falling victim to scams or fraudulent activities. Remember, staying vigilant is the key to a safe and enjoyable gaming journey.