Gambling Checks Coming In Tomorrow

[Michael5482]

Tomorrow will see the introduction of "Light Touch" financial checks on either spend or deposits over £500 in a month (I'm unsure whether it is on deposit or spend tbh I'm reading contradicting info) it will be reduced to £125 on 28th February (UK bettors only). They'll be checking CCJ's, bankruptcy, unpaid debts etc.

A pilot scheme for the high rollers and indeed everyone will also start to see if more checks can be implemented and made frictionless.

Well on our way to an Orwellian State

[Safeway]

Tomorrow will see the introduction of "Light Touch" financial checks on either spend or deposits over £500 in a month (I'm unsure whether it is on deposit or spend tbh I'm reading contradicting info) it will be reduced to £125 on 28th February (UK bettors only). They'll be checking CCJ's, bankruptcy, unpaid debts etc.

A pilot scheme for the high rollers and indeed everyone will also start to see if more checks can be implemented and made frictionless.

Well on our way to an Orwellian State

All we can do is to wait and see how it all pans out.

I am a modest operator but can see this could easily affect me. It could have a catastrophic effect on those who don't blink when they lose thousands in one go. Get checked for losing? Get checked when they try and top up their accounts? Obviously we have the highest confidence in Betfair's administrative abilities but I can't help feeling some people may be stopped for no reason at all.

It's a chance for some to brag about their high net worth, tell us they'll be fine because their credit files are the envy of the neighbours but I don't think anybody is immune from this. Just have to see.........

Personally I have nothing to be ashamed of but dislike being checked and assessed. I'll be considering my relationship with the industry over the next few months.

[Michael5482]

Tomorrow will see the introduction of "Light Touch" financial checks on either spend or deposits over £500 in a month (I'm unsure whether it is on deposit or spend tbh I'm reading contradicting info) it will be reduced to £125 on 28th February (UK bettors only). They'll be checking CCJ's, bankruptcy, unpaid debts etc.

A pilot scheme for the high rollers and indeed everyone will also start to see if more checks can be implemented and made frictionless.

Well on our way to an Orwellian State

All we can do is to wait and see how it all pans out.

I am a modest operator but can see this could easily affect me. It could have a catastrophic effect on those who don't blink when they lose thousands in one go. Get checked for losing? Get checked when they try and top up their accounts? Obviously we have the highest confidence in Betfair's administrative abilities but I can't help feeling some people may be stopped for no reason at all.

It's a chance for some to brag about their high net worth, tell us they'll be fine because their credit files are the envy of the neighbours but I don't think anybody is immune from this. Just have to see.........

Personally I have nothing to be ashamed of but dislike being checked and assessed. I'll be considering my relationship with the industry over the next few months.

I'd kind of forgot about it then read the Racing Post this morning regarding implementation tomorrow and yes no one will be immune, no matter who you are. I also read Andrew Black Betfair's founder has also been called by Betfair regarding the amount he bets which is quite ironic but worrying.

I've invested a lot of time in the Betfair API over the last 6 months however today I've decided I'll be looking more towards the financial markets. I invest in stocks in that I buy them and never sold anything as yet so more an investor than a trader but confident I can make the transition. My learning or skills I've learnt like python/sql won't be wasted.

I'll carry on trading on Betfair and with the API as long as possible but invest more time into financials, I'll have something to fall back on if the worse happens. Two things are for sure I won't be giving betting company's any personal data like bank statements etc and I certainly won't be getting a job working for anyone.

[jimibt]

Tomorrow will see the introduction of "Light Touch" financial checks on either spend or deposits over £500 in a month (I'm unsure whether it is on deposit or spend tbh I'm reading contradicting info) it will be reduced to £125 on 28th February (UK bettors only). They'll be checking CCJ's, bankruptcy, unpaid debts etc.

A pilot scheme for the high rollers and indeed everyone will also start to see if more checks can be implemented and made frictionless.

Well on our way to an Orwellian State

All we can do is to wait and see how it all pans out.

I am a modest operator but can see this could easily affect me. It could have a catastrophic effect on those who don't blink when they lose thousands in one go. Get checked for losing? Get checked when they try and top up their accounts? Obviously we have the highest confidence in Betfair's administrative abilities but I can't help feeling some people may be stopped for no reason at all.

It's a chance for some to brag about their high net worth, tell us they'll be fine because their credit files are the envy of the neighbours but I don't think anybody is immune from this. Just have to see.........

Personally I have nothing to be ashamed of but dislike being checked and assessed. I'll be considering my relationship with the industry over the next few months.

I'd kind of forgot about it then read the Racing Post this morning regarding implementation tomorrow and yes no one will be immune, no matter who you are. I also read Andrew Black Betfair's founder has also been called by Betfair regarding the amount he bets which is quite ironic but worrying.

I've invested a lot of time in the Betfair API over the last 6 months however today I've decided I'll be looking more towards the financial markets. I invest in stocks in that I buy them and never sold anything as yet so more an investor than a trader but confident I can make the transition. My learning or skills I've learnt like python/sql won't be wasted.

I'll carry on trading on Betfair and with the API as long as possible but invest more time into financials, I'll have something to fall back on if the worse happens. Two things are for sure I won't be giving betting company's any personal data like bank statements etc and I certainly won't be getting a job working for anyone.

michael, you won't regret switching over to financials. i personally trade forex on a short term basis (trades can last a few hours to a few days). there are some great platforms out there which allow you to code your own strategies, plus they have an open api. I use ctader and personally can't recommend it highly enough. I moved away from BF/BA during covid and have never had any regrets. this impending move will (imho) see quite an exodus in the coming months, so your thinking is spot on.

anyway -good luck moving forward...

[walshy]

Are these checks only applicable if you are registered with a UK address?

Would an account registered in the Rep of Ireland also be subject to them?

[walshy]

Also are the checks only done if you deposit over the limits?

Or will everyone's account be checked?

[jamesedwards]

Are these checks only applicable if you are registered with a UK address?

Would an account registered in the Rep of Ireland also be subject to them?

I doubt anyone here would know for sure. Betfair won't have to legislatively apply the same rules to someone with a non-UK address. But they could quite feasibly decide that it's simpler or more cost effective to roll-out the same process across their entire UK & Ire operations.

[jamesedwards]

Also are the checks only done if you deposit over the limits?

Or will everyone's account be checked?

Info here from 1st May. Still accurate as far as I know.

viewtopic.php?p=354565&hilit=loss#p354565

[walshy]

Thanks for that James, appreciate it.

Hopefully it wont apply to the Rep of Ireland but as you say with Betfair who knows!

[Lynskey888]

Very useful, James. Thanks.

[Dublin_Flyer]

Thanks for that James, appreciate it.

Hopefully it wont apply to the Rep of Ireland but as you say with Betfair who knows!

Rep of Ireland's safe Walshy.
Betfair are doing it because they need to in order to stay in line with the White Paper which is proposed/possible law in the UK eventually/maybe.

They have no reason to do it in the Republic as any gambling law changes are waaaaaaaay down the priority list here so there's nothing to comply with. Plus if they did, they'd never get finished with the amount of court cases brought up over GDPR limitations on them accessing personal data, especially top level private financial things like income, savings, debts, alimony/child support payment schedules.

[walshy]

Cheers for that Dublin_Flyer.

Thats good news as I'm moving back there in a couple of months, so can switch the account address!!

[Kai]

Rep of Ireland's safe Walshy.
Betfair are doing it because they need to in order to stay in line with the White Paper which is proposed/possible law in the UK eventually/maybe.

My best friend moved to Dublin a few years back and it is my understanding that Ireland knows how to party