It doesnt matter if he hides it or not, scam: n. A fraudulent business scheme; a swindle. Its the definition of a scam, doesnt matter what, are you going to write a new dictionary?
You don't need to write a new dictionary. They also fall under the definition of gambling whether you like it or not:
1.
play games of chance for money; bet.
2.
take risky action in the hope of a desired result.