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![](/sites/www.scamwatch.gov.au/files/styles/scamwatch_news/public/featured/Horse.jpg?itok=l-BCo-2F)
Punters are being warned to watch out for betting and sports investment scams which falsely promise high odds and big returns on Cup Day.
![](/sites/www.scamwatch.gov.au/files/styles/scamwatch_news/public/related-article/Scam13.jpg?itok=Z1FMphE-)
The ACCC is warning people to be wary of scammers when looking for romance online with social media now the most common method scammers use to contact potential victims.