Scambaiting is the "De Facto" sport you can practice with a webmail account. Practiced, since there are thousands of 419 scammers out there, stealing money to honest people. The main goal of scambaiting is tomake a scammer waste its time, money (if he is in an internet cafe), and patience into a "victim" who will not fall, thus preventing the scammer on getting his hands on people who might fall for it. Consists on doing the following:
1. Obtaining a free webmail account, preferably one which masks or does not display your IP when obtaining headers, and setting it up under an alias, be it a punning name or a legendary character such as Jack Sparrow, Forrest Gump, Marty McFly, Bruce Banner, and the list goes on, use your imagination.
2. Scam letters come and go. You can obtain them by accident or by seeding guestbooks with another email account(not very recommended).
3. Take one of the e-mails obtained, and reply.
4. Make him suffer like G did with nonsense questions, arguing over the legality of the deal, and try to make him go off script (since most of the answers are scripted) with a load of resources, such as imagination and experience.
5. If the scammer keeps on it, at the end you can just let him know that he is a scammer and end the deal, or play dumb.
As a note, if you are going to practice it, NEVER give your real life information (such as bank accounts, home address, telephone, et al), and try to be as creative as possible. There are many sites which treat about this subject which are worth looking.
Mike: Dude, I received these 419 letter.
Ike: Well, pass the letter to me, I will reply the bugger and make him waste his time, before your ignorant aunt falls for it. Those are frauds, you know.
Mike: Is that scambaiting you say to do?
Ike: Yeah. Very fun if you have enough practice.