Source Of Funds

News, chat and debate about the Betfair betting exchange.
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LWBF
Posts: 20
Joined: Fri Feb 05, 2021 10:10 pm

Hi all,

I am being asked by Betfair Exchange for source of funds evidence.

I actually used part of a Coronavirus Bounce Back Loan to place a bet.

Would that suffice as a legitimate source of funds?

Thanks.
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Dallas
Posts: 22673
Joined: Sun Aug 09, 2015 10:57 pm
Location: Working From Home

Technically they are just ensuring you are not money laundering illegal money and it is legitimately earned and belongs to you

Having said that I'm not sure how they would view a business bounce back loan intended to help your business being used to gamble with, they are lots of talk around affordability checks in the air at the moment and they 'may' see the use of your businesses load as a red flag at this moment in time
invisiblelayer
Posts: 245
Joined: Fri Sep 10, 2010 7:08 pm

Can I just ask have you done a KYC with Betfair in the past? Read a few things recently with accounts being suspended due to high deposits.
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MemphisFlash
Posts: 2126
Joined: Fri May 16, 2014 10:12 pm
Location: Leicester

i hope your business goes under. your not supposed to use bounce back loans for gambling.
i hope you loose your livelyhood and have to pay the loan back with interest. MORON!!
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LeTiss
Posts: 5386
Joined: Fri May 08, 2009 6:04 pm

What an appalling first post

I'd be ashamed to advertise that
rik
Posts: 1583
Joined: Sat Jan 25, 2014 5:16 am
Location: London

MemphisFlash wrote:
Sat Feb 06, 2021 11:49 am
i hope your business goes under. your not supposed to use bounce back loans for gambling.
i hope you loose your livelyhood and have to pay the loan back with interest. MORON!!
rude?
have you thought of a safe double up bet, then you keep your bank and got the loan payed back
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jimibt
Posts: 3641
Joined: Mon Nov 30, 2015 6:42 pm
Location: Narnia

MemphisFlash wrote:
Sat Feb 06, 2021 11:49 am
i hope your business goes under. your not supposed to use bounce back loans for gambling.
i hope you loose your livelyhood and have to pay the loan back with interest. MORON!!
ooo!! diplomacy as ever - :D
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Euler
Posts: 24700
Joined: Wed Nov 10, 2010 1:39 pm
Location: Bet Angel HQ

If you say you are using a loan to fund a betting account you will probably get your account closed immediately I would imagine. That's more or less what they are trying to stop with a source of funds request.
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to75ne
Posts: 2413
Joined: Wed Apr 22, 2009 5:37 pm

jimibt wrote:
Sat Feb 06, 2021 11:52 am
MemphisFlash wrote:
Sat Feb 06, 2021 11:49 am
i hope your business goes under. your not supposed to use bounce back loans for gambling.
i hope you loose your livelyhood and have to pay the loan back with interest. MORON!!
ooo!! diplomacy as ever - :D
but he is correct, firm but fair. :)
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superfrank
Posts: 2762
Joined: Fri Aug 14, 2009 8:28 pm

to75ne wrote:
Sat Feb 06, 2021 12:11 pm
MemphisFlash wrote:
Sat Feb 06, 2021 11:49 am
i hope you loose your livelyhood and have to pay the loan back with interest. MORON!!
but he is correct, firm but fair. :)
But can't spell. Livelihood is forgivable but it's lose not loose!
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Derek27
Posts: 23471
Joined: Wed Aug 30, 2017 11:44 am
Location: UK

LWBF wrote:
Sat Feb 06, 2021 2:40 am
Hi all,

I am being asked by Betfair Exchange for source of funds evidence.

I actually used part of a Coronavirus Bounce Back Loan to place a bet.

Would that suffice as a legitimate source of funds?

Thanks.
I hope this had nothing to do with it - I was joking. ;)

viewtopic.php?p=252963#p252963
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Derek27
Posts: 23471
Joined: Wed Aug 30, 2017 11:44 am
Location: UK

MemphisFlash wrote:
Sat Feb 06, 2021 11:49 am
i hope your business goes under. your not supposed to use bounce back loans for gambling.
i hope you loose your livelyhood and have to pay the loan back with interest. MORON!!
I used to hope my teachers die - very childish MF!

Edit: mind you, they probably have now. :D
Last edited by Derek27 on Sat Feb 06, 2021 12:49 pm, edited 2 times in total.
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Derek27
Posts: 23471
Joined: Wed Aug 30, 2017 11:44 am
Location: UK

superfrank wrote:
Sat Feb 06, 2021 12:23 pm
to75ne wrote:
Sat Feb 06, 2021 12:11 pm
MemphisFlash wrote:
Sat Feb 06, 2021 11:49 am
i hope you loose your livelyhood and have to pay the loan back with interest. MORON!!
but he is correct, firm but fair. :)
But can't spell. Livelihood is forgivable but it's lose not loose!
viewtopic.php?p=252666#p252666
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Kai
Posts: 6092
Joined: Tue Jan 20, 2015 12:21 pm

Derek27 wrote:
Sat Feb 06, 2021 12:32 pm
superfrank wrote:
Sat Feb 06, 2021 12:23 pm
to75ne wrote:
Sat Feb 06, 2021 12:11 pm

but he is correct, firm but fair. :)
But can't spell. Livelihood is forgivable but it's lose not loose!
viewtopic.php?p=252666#p252666
You're too late Derek, he's already closed his browser!!

It's a win/win no matter how you look at it, very effective as you can see, you can't loose. And that is eggzactly why my grammar is allways umpeccable 👌
puntinrolls
Posts: 70
Joined: Mon Aug 31, 2020 3:01 pm

LWBF wrote:
Sat Feb 06, 2021 2:40 am
Hi all,

I am being asked by Betfair Exchange for source of funds evidence.

I actually used part of a Coronavirus Bounce Back Loan to place a bet.

Would that suffice as a legitimate source of funds?

Thanks.
LWBF?

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