Online betting uk guide
What is liability? When laying bets, you become the bookmaker. Learn Matched Betting for Free Over 1, people have profited from our free beginner course. Want to join them? Of course, not everyone doing this is a student or a parent of a newborn child.
The vast majority of matched bettors are Average Joes that just want a little more financial freedom. With just one or two days of getting into the swing of things you will be well on your way to that super-sweet risk-free betting profit. We choose the bookmaker and the minimum odds we need to bet on in the oddsmatcher filters and it gives us a range of good choices for bets.
The lay odds of this result are 2. Note: You can easily switch between fractional and decimal odds on all bookmakers, usually on any page, or your account settings if not. You always want to switch to decimal odds when matched betting. How do we know how much to lay? What is a qualifying loss?
A qualifying loss is the small amount of money you lose when matched betting in order to unlock a free bet. It is a very small investment for a much larger financial reward. So, you lost 89p, but guess what? We repeat the same process again, using the oddsmatcher to find us a bet at slightly higher odds.
We decide to place this bet on Watford. The oddsmatcher is showing us that they have odds to win of 5. The lay odds are 5. We can now see that the calculator is showing a healthy profit being generated. And we know this profit before the match even kicks off, irrespective of the result.
The Next Steps The next stage of this is to do it for real and earn yourself your first matched betting profits! Scared to make the jump? I know exactly how you feel — I was in exactly the same position once myself. Step 1 Sign up for our free beginner course available here. Everything is broken down step-by-step and it has been used by thousands of beginner matched bettors already. Step 2 The second step is to work your way through the course and all of the guides within it.
This is absolutely NOT the case! I was already signed up to a massive 17 bookmaker sites before I started. There are usually different bookmakers to complete sign-up offers on at any one time. Most people spend between minutes on matched betting per day. The more time you put in, the more you earn. Generally speaking, you probably need around 15 minutes to get one bet on.
A great idea is to track the time you put in and the profit you make at the end of the month and then work out your own hourly rate. Is Matched Betting a Scam? The majority of people are skeptical when they first hear of matched betting. Thanks to an increase in sites and services becoming available, many are learning the power of it the easy and cheap way. As more and more people try it out, more people learn how profitable it is and go on to tell their friends and family about it, spreading the word at rapid rates.
This helps more people to become educated about the process and its legitimacy via word of mouth. There are currently tens of thousands of people in the UK that are actively matched betting every month. It was only a few years ago that I thought matched betting was a scam. My friends and family thought it was a scam too. In fact, some of my family members particularly the older ones still think it must be a scam even now. It took me a reasonable amount of time to really do the research and actually get started because I was such a non-believer.
As soon as you have a free shot at covering one of the teams, horses, whatevers, the very simple maths works in your favour. You can lock-in a profit as soon as you have a free bet — i. Is Matched Betting Legal? Matched betting has been quite a well kept secret when you consider the amount of money that can be made doing it. It is is entirely legal.
Live streaming options for sporting events. Why bet at BetWay? Betway is licensed in the UK and Malta, so its customer support is tailored for British sports bettors. Payouts are fast and safe, making Betway our top ranked UK betting site. Check out Betway Sports to place bets and win! Great for Betting on International Sports — Sports One of the most trusted betting sites in history. Lots of promotions and bonuses throughout the year..
Some of the best betting software online. Massive wagering limits. Why bet at Sports? International cricket, golf, and horse racing all have their sections. Check out Sports to place bets and win! Depositing and Withdrawing in the United Kingdom Players have the full set of deposit and withdrawal options. Many of the payment processing companies originate from the United Kingdom. In the space below, I provide a quick profile of the most popular dozen or so UK deposit options.
The payment methods listed below are the most popular deposit methods, but by no means the only ones. MasterCard Credit: MasterCard is offered by over 2, online gambling sites and countries worldwide. MasterCard credit is a trusted payment option which accumulates rewards as you pay.
VISA also provides cashback rewards, which like casino rewards lowers the house edge. Bitcoin: Bitcoin is the safest and fastest way to fund an account. Using blockchain technology for privacy and security, identity thieves simply cannot steal your payment information.
Bank Wire Transfer: Bank wire transfer takes the money from your bank account to the online casino. A bank transfer takes longer and require a fee, but is a secure deposit option. Skrill: Skrill is a virtual wallet that allows you to send money from a credit card, debit card, or bank account.
Skrill Moneybookers is accepted at over Internet gaming sites. Players send money to Neteller using a credit card or bank account. Neteller is accepted at over gambling websites. Maestro Debit: Maestro is the MasterCard debit card. Visa Electron: Visa Electron is a general-purpose debit card from Visa. Electron is accepted at nearly 1, online gaming sites, including online sportsbooks. Visa Debit deposits are accepted anywhere Visa Credit is accepted.
These take longer to arrive, but are safe. PaySafeCard allows users to pay for a variety of online goods and services, including online sportsbook deposits. There are a few variations, so read through the options below to make sure your favorite cashout method is available. Sports bettors should be pleased to know that withdrawal times and withdrawal limits are best in the UK, because of competition between legitimate payment processors.
Visa: VISA withdrawals are free and have an instant process time, though online sportsbooks might have their own withdrawal times. Visa withdrawal limits range between 10 units and 30, units. Maestro withdrawals are available in the United Kingdom. Bitcoin: Bitcoin is a virtual currency which uses blockchain technology to offer safe, private, and fast payments.
No other withdrawals will get to your account as quickly. Skrill: Skrill is the e-wallet once known as Moneybookers. It allows payments with one click or tap, and is a helpful payment method for mobile sports bettors. On-Site Facility: For land-based bettors only, these are withdrawals made at a bank kiosk in the facility. The withdrawal limits are dictated by the individual facility, but tend to be quite high.
The company that would become Ladbrokes was founded in as a commission agent on horse races. It adopted the name Ladbrokes in A man named William Hill ran illegal betting operations in the s and s, began operating legally in the s, and took William Hill plc public in The Tote allowed fixed-odds betting on horse races, which opened the door for fixed-odds sports betting.
The Betting and Gaming Act opened the door for UK sports betting, casino gambling, and off-track betting shops. William Hill and Ladbrokes each opened thousands of betting shops.
Think, forex signals 100 pips a day expert simply
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Manchester City have won six of the last nine finals since and have come to own the competition of late. The only other teams to win in that time are Liverpool and Chelsea. Then again this is a cup competition and anything can happen, this will be in City's mind too having been beaten in one of the biggest FA Cup shocks when Wigan overcame them in the final.
With Man City likely to dominate the Premier League again it gives added importance for the League Cup where it will be high on the list for teams like Tottenham, Chelsea, Arsenal, Spurs and Man United as a way to earn silverware to grow their teams. Despite the name the Breeders' Cup is a series of races over two days. It moves around each year but for it will be held at Keeneland in the Kentucky. There are 14 races, five on Friday and 9 on Saturday; 12 of which have grade 1 status.
Obviously given the lavish amount of cash to be won the Breeders' Cup attracts a lot of interest around the world and UK bookies like to get in on this and will have their best prices and promos around hours before the main races.
This deal will last until at least The event for the top eight men's singles and men's doubles players of the season is contested in two groups of four in a round-robin format, with the top two players in each group progressing to the ATP Final.
Roger Federer holds the record with 6 titles to his name, although Djokovic is not far behind with 5 and will be favourite again this year. Saying that the last 7 years have seen 6 different winners since Djokovic last won in and so the event is as wide open as it has ever been. Rafa Nadal will also have his eye on the title having never won it, twice finishing as runner-up, time is running out for the Spaniard to add the title to his many accolades.
The format of the event hasn't changed much since it began in , and that is no bad thing - if it ain't broke don't fix it. The world top ranked players play in 7 knock-out rounds over two weeks, with the final to be played on the 20th November. This is a straight knockout event best of 11 frames in the first 6 rounds and then best of 19 in the final. This is about serious competitive matches between top players, none of this league or group stage BS that has permeated so many other sports.
Ronnie O'Sullivan is a threat as always, the legend has already won a record seven titles from eight finals and still has many years to increase that total further. The only person that is likely to stop Ronnie winning an 8th title is Ronnie himself. Should the legend of the game falter then Mark Selby, Judd Trump, Ding Junhui and Neil Robertson will all be waiting for an opportunity to win the crown, in fact, those four players have shared 10 of the last 11 titles.
Or, perhaps, like last year when world number 26 Zhao Xintong won his first ever ranking event by winning, it is time for a new winner. The group 1 race is truly international and was won by Cross Counter in , the first time a British trainer has won the famous race. In Frankie Dettori had another Cup to forget as he was banned as runner-up and in Irish trainer Joseph O'Brien won with the joint oldest-winner 8yo , Twilight Payment.
The field is restricted to 24 horses, with prizes available for the first 12 to finish. The Melbourne cup itself is due to go off at 3pm Melbourne time, which is 4am UK time. UK bookies don't usually do a lot for foreign racing as we have enough elite racing on these shores already, the Melbourne Cup is however an exception and you can expect some tasty deals, enhanced odds and specials if you wait until the day before to bet.
This meeting is seen as marker by serious punters looking to see the who the form horses are for high level Grade races for the year to come. In total there are 19 races with 8 grade races and 3 listed races. The competition takes place over the course of 4 weeks there will be 45 matches between the 16 teams involved. It was due to be scheduled in Australia in but this has been moved to The group stage sees two groups of 4 teams compete in a round-robin 3 matches each team from the 16thst October.
The winners and runner up from each group then join the top 8 ranked teams that progress straight to the Super 12 stage. The Super 12 stage sees the 12 remaining teams split into two groups of 6 teams who again play 5 matches each in a round-robin. The top two teams in each Super 12 group progress to the semi-finals. The final will be held on the 13th November. Matches will take place at 7 different grounds in Australia. It is the 1st time that Australia has hosted the T20 World Cup.
Fans can only hope the World Cup lives up to the spectacular edition that England lost in dramatic style to the West Indies, who won with just two balls to spare. This years competition consists of 16 teams that will play 31 matches over the 5 week period. Teams are divided into four groups of four teams, A-D see below , and play each other in a round robin, followed by the knockout stages starting at the quarter-final stage.
Saying that any team at their very best will still struggle to stop Australia winning a 12th title, they have won 11 of the previous 15 editions. Their main job is to enforce licensing laws and codes of practice, punish companies that don't follow the rules and monitor gambling and addiction as a whole. In some cases, though, you can complain directly to the UKGC if you feel the brand has failed in its licensing conditions, for example, in relation to responsible gambling.
This means companies are obliged to responsibly advertise, not mislead customers or promote gambling as a sexy or fun pursuit, and of course, ensure advertising to minors under 18 is kept to an absolute minimum. Betting and Gaming Council The betting and gaming council is the body introduced in to oversee all forms of gambling in the UK.
The BGC replaces three previous bodies, the Remote Gambling Association, that used to oversee online betting, the Association of British Bookmakers, that used to oversee high street bookmakers and the National Casino Forum. The idea is having one body will allow a consistent approach to gambling regulation across all platforms and the hope is this should enhance responsible gambling measures.
When you place a bet in the Britain, and now in Northern Ireland too, you are entering into a contract with the betting company. The terms of that contract is dictated by their terms and conditions and so not every bet you place has the same contractual terms, there are common elements that are required by law but largely it is determined by the company you bet with.
The fact you are entering into a contract, however, means it is legally enforceable and that means if something goes wrong you can complain or even go to court. Even if the company are covered by their own terms those terms must be clear and fair.
Do Bookmakers Collude? There is no doubt that unscrupulous bookies in the past would collude, especially at racecourses and events where they could control the odds collectively and increase their own profit margins. But does that still happen today with modern systems that allow people to track odds at all times. Certainly betting is a competitive industry, online especially, and that should drive up value for the customer and for those that shop around it does indeed.
The fact is, though, that now most of the market is cornered by a handful of mega companies and if these do collude it means that it could affect a huge range of punters. To provide gambling in the UK you need a license but it is almost impossible to shut down sites based offshore that want to take UK players money illegally.
The onus is mostly on the customer to ensure they are gambling legally but still people choose to gamble illegally for a host of reasons. On this page we cover the risks of gambling with illegal sites and ask why people still so so.
New Gambling Act The wheels are in motion to replace the gambling act with a new act that reflects the digital age we live in. Pressure for a new act has been mounting following criticism at how the UKGC has responded to problem gambling in the industry and those in power now feel a new act is needed to reinforce the industry.
The new act was due in late but now looks to have been pushed back to early at the earliest. On this page we look at why a new gambling act is being called for and what the key points of the new act are likely to be. Major Gambling Licensing Jurisdictions We obviously talk a lot about the UKCG on this site but you may have noticed when betting online that companies often list several different licenses on their pages.
Even though countries like the UK require gambling companies to possess a license in order to offer betting and gaming to customers the very nature of the internet means it is not always possible to stop brands that run illegal websites from accepting UK customers. These sites offer no legal protections and often simply steal customer money and offer rigged games. This begs the question as to where all these illegal sites are based and why are they so untouchable?
Names like Curacao and The Philippines pop up as you may expect but also you may be surprised to see how many sites run out of what you would consider legal countries like Malta. Gambling Ages Around The World The reason we have gambling age restrictions is to prevent people from betting and gaming before they are old enough to make rational and informed decisions about the risks involved.
Considering this is a simple premise it is therefore quite amazing how the gambling age varies across the world as different countries decide different levels at which someone is classed as an adult. In most of the world the gambling age is 18 but there are plenty of countries that set the level at 19, 20 or 21 or where it is simply illegal whatever your age.
This is important information for tourists, just because you can gamble legally in the UK doesn't mean you can elsewhere and it could land you in hot water with authorities if you are ignorant to the local restrictions.
Problem Gambling and Fraud Prevention Measures Problem gambling and fraud prevention are hot topics right now when it comes to online gambling and many think the industry does not do enough to prevent it. Looking at other industries such as the financial sector there are tools available through software and monitoring that could go a long way towards protecting people further, so why are these not implemented widely by gambling companies?
A large part of the problem is firms are largely allowed to self-regulate and so do we need independent systems in place? There are countries where gambling is banned due to religious reasons, like the UAE and Iran, or due to hard line views like North Korea or China. Practically, though, it is very hard to totally ban gambling in liberal free societies in the West, like the UK. Indeed the US prohibited largely for a long time but ended up repealing that action in recent years.
The nature of the internet means black market gambling is accessible so any ban could not be enforced without state controlled internet. Basically its possible but don't expect one in the UK any time soon. Insider Betting, Is It Legal?
Inherently we bet because we believe something will happen and we want to take a risk to earn reward from that. Sometimes this is based on a hunch and other times it is based on meticulous research and information you can get your hands on. Where then is the line between information that comes from research vs information that is restricted and could allow you to abuse a market? We look at insider betting, whether it is legal and what classifications there are along with famous examples where information has been used to bet by people who probably shouldn't have done.
Public vs Private Betting Companies From a punter perspective not many people care if the company they are betting with are publicly owned or privately owned. It can make a difference though, for example, public companies can raise funds more easily from shareholders that they can use to acquire other brands or companies or move into other markets. At the same time their outlook tends to be short term, mainly concerned about the next quarter profits. Private companies are more shrouded and can do what they want, this means they can struggle to raise funds but at the same time they are more stable and long term in their approach.
Find out the differences and pros can cons for each. Betting Systems Explained Betting systems have been around, well, as long as betting has been around. There are a lot of different systems from famous names such a Martingale, Labouchere, D'Alembert, right down to the dodgy system thought up by your mate down the pub.
Whatever the system there is always a catch and rarely is there a way to ensure a win. Even if there is the operators will catch you and stop you before long anyway. In our article we discuss all forms of sport betting and casino betting systems including how they work, if they work and where they originate. We tell you if the systems are legal, if you can be banned for using them and more.
Betting Odds Explained Modern online betting is bow a global affair and this means you will now see odds and prices listed in several formats including traditional fractions more European decimals and even American moneyline formats. Some more continental bookies may only provide prices in decimal format and this is also common in exchange and index spread betting. There is really nothing to worry about.
In our article you will explain betting odds including how to bet with different odds formats with conversion and comparison tables and real examples. Odds are set based on probabilities, in response to betting patterns and to balance the book. By understanding how bookmakers set odds you can spot the best value prices to add maximum value to your wagers. In this article we discuss aslo disucss how to calculate odds, how bookies balance books to ensure they always make money and how to spot high and low margin bets.
Odds are set by traders and in general they undersell the likelihood of an outcome, hence how the bookie makes a profit. Traders are however human after all and although rare they do make mistakes and omissions. In this guide we discuss ways to spot overpriced odds lines on a regular basis as well as other strategies to beat the odds.
Weak odds is a term given to markets that are overpriced, i. This happens most commonly because of imbalanced books for specific bets and will often come about because public opinion prefers one outcome over another and if you go against this opinion you can find added value over time.
Still, the bookies are well aware of weak odds and they don't mind pricing markets above the expected value if it guarantees them a profit, but if you consistently only back weak lines expect to find your account limited.
Expected Value and Variance in Sports Betting Most people place bets based on instinct, often backing the team or market they want to win rather than the market that is most likely to return them a profit. Those who think more deeply about sports betting and bet to make profit not just to win individual bets, will often talk about expected value.
The idea is simple, you make a decision of what you think the true probability of an outcome is and if the odds are better than that prediction then the bet has a positive EV. Backing markets with positive EV in the long run can make you a profit, but, and it is a big but, it is affected by variance and that means you need to have an appropriate bank roll and be prepared for loses in the shorter term to gain in the longer term.
The Difference Between Implied Odds and True Odds Many people look to bookmaker odds as an indicator as to how likely something is to happen and while the odds will show a broad trend they also include a profit margin for the bookmaker, therefore, true probabilities are rarely reflected. This is known as the implied probability, i. The true probability of something happening can never be known entirely but using knowledge, research and statistical analysis we can get very close.
People who bet 'professionally' will analyse markets in detail to try to work out the true probability and if this is ever lower than they implied probability offered by a bookie they will bet on it. Back-to-lay betting is a strategy used by many 'professionals' to use odds discrepancies to guarantee a profit no matter the outcome. The strategy relies on finding overpriced markets that you back, you then lay that same selection or outcome on an exchange when the odds shorten. It takes time, research and experience to find the appropriate markets to back and lay but the principle is always the same.
Prices may change pre-event or you can use the strategy in play. Using a simple calculation you can lock in a profit no matter the outcome. This isn't fool proof, odds can lengthen as well as shorten and often you need to cut your loses. Can Odds Affect Performance? Of course we know performance has a big impact on odds but what about the other way around? Can the odds themselves have an impact on the outcome of an event?
While professionals sports competitors are unlikely to pay attention to bookies directly most will know if they are favourite or an underdog, they will also often be aware, through the media, of whether their odds are getting better or worse. This therefore could have a real impact on the outcome of an event, especially for individual sports.
It really dependents on the person or team and whether they feel pressure from being a favourite or spurred on being an underdog. Zigzag Theory In Betting Zigzag theory originates from analysing US sports, particularly in the NHL and NBA where teams play each other several times in a row through a series, although it is applicable to most sports to some degree. It focuses around the idea that teams and contestants are more likely to respond with a positive result following a series of negative results.
What is interesting is the zigzag effect is rarely factored into odds meaning if you can spot when it may happen you can be at an advantage when betting. Many shock results in sport follow a zigzag pattern and by understanding it you can potentially make your predictions more accurate in some scenarios. It is possible to change currency with some betting companies after you have opened an account but it isn't always straight forward or easy.
When you register you need to set a currency and most sites will then make you stick with that currency, to use a different currency you have to withdraw, close the account, then open a new account in the new currency. A few companies will transfer the balance across but will charge you a conversion fee.
Some sites will let you have secondary currency available but ultimately this is a closed wallet, i. The rules exist to prevent currency being moved in an unregulated way. Guide To Responsible Gambling Gambling is fun but can also be addictive. In the UK we have some of the most stringent gambling regulation in the world and bookmakers are required by law to promote responsible gambling. Read about all of the tools and features available to help you gamble in a safe and controlled way, from self-exclusion to deposit limits.
Find out what advice services are available and where to find them. Betting is fun keep it that way. Why Do People Bet and Gamble? We all take risks every day of our lives assessing rewards relative to what we stand to lose.
Gambling is part of human nature and has has been part of human culture since pre-history. The issue now is we don't just bet for food or resources we can gamble on pretty much anything, anywhere and anytime. Modern society allows us to place wagers whenever we want and while that might be a great thing for free society it also comes with huge risks, especially for those pre-disposed to addiction.
The UKGC conducted research into what they call the 'path to play', the idea being to define what factors influence people to gamble. The biggest influence in making us gamble more is unsurprisingly winning. The act of winning makes us more confident we could win more, which naturally makes people then bet again as a result. Lots of other factors influence us too, such as other people winning money, adverts and marketing and even social interactions with our peers.
Emotional vs Rational Betting When placing a bet many people go with their gut or instinct and there is nothing wrong with this as such but if you always allow your emotions to dictate your betting you are ultimately more likely to lose in the long run. Being rational and evaluating evidence before making decisions and not letting prior decision or results influence us sounds easy but in practice it is very hard to avoid.
Most so called 'professional' gamblers will rarely allow emotions to impact their decisions around gambling. Is Gambling a Luxury or a Liberty? Gambling is basically taking a risk for money and taking risks is ingrained in animal nature.
Each day people take risks on all sorts of things, from whether to go or stop on a yellow traffic light to deciding whether to stay up and watch a program but risk being tired the next day. Gambling has been going on as long as humans have existed but the question in the modern world is gambling a given right or is it a luxury we are afforded? Here we look at those arguments and assess how culture, religion and other aspects affect the debate.
There are many initiatives now that are designed to educated and inform people about safe and responsible gambling, such as safer gambling week. Some have, however, argued that having a single day each year where gambling was banned could be a big help to those that gamble habitually, acting like a circuit breaker. It is certainly possible for online and offline licensed companies to stop offering their services for one day a year, even if they wouldn't want to. Practically there are other considerations, though, such as people turning to unlicensed sites.
Players and punters can fall foul of betting rules or terms and conditions for a multitude of reasons, which could result in you losing winnings and on occasion even your stake. Most sites will ban you or limit you if you are caught abusing offers or betting systematically to ensure you win, but what if you've lost out and you think it genuinely wasn't your fault or you didn't have the right info? Read our guide on why betting companies refuse to pay out. If you've ever won consistently with a betting site it is highly likely you may at some point have had your account limited or suspended.
This means you have heavily restricted stake limits and often cannot claim any promotions or use certain features. The practice of limiting users is rife, but what can you actually be limited for and should it even be allowed? In some countries bookies are forced to take bets up to a minimum threshold and many argue bookmakers are exploiting an already profitable market to make more and more money.
If you are a successful punter you will have no doubt found out already that most sportsbooks will quickly limit you if it is evident you know what you are doing and win regularly. Bookies after all are private companies and they can choose who they accept as customers and how much they will allow us to bet. Given that most betting sites are selecting for customers that lose, therefore increasing their profits, the question has been asked as to whether they should be mandated to accept a minimum stake from all punters, no matter how successful.
Mandatory bet acceptance for horse racing started in Australia and some UK bookies now do it, although we are still a long way away from them accepting minimum bets on all markets. Should the rules be changed to force all bookies to accept bets up to a minimum level from everyone? A Palpable error is basically a bookmaker making a mistake in either pricing a market or in paying you out. If that mistake is clear and obvious then a bookie can refuse to pay you out, void a bet if it hasn't started yet or pay you out at the correct odds.
They all have terms to cover these eventualities but there is still a possibility of recourse for the punter as there is no clear definition of what is an obvious error. You can complain if you are subject to a palpable error to the company and then to mediation services such as IBAS. Occasionally, for numerous reasons, official results can later be changed, due to disqualification, inaccurate data, enquires, etc.
Well, generally all bookies will settle bets on the official result immediately after an event. In horse racing, for example, most bookies pay out on the horse that was first past the post even if that horse is later disqualified but this also means if you backed the horse that finished second and it was later promoted to being a winner that you won't be paid as a winner on that bet.
Making a Complaint Against a Bookmaker We are all human and occasionally both we and bookmakers make mistakes. If you feel you feel a gambling operator has made a mistake or that you have made a mistake due to poorly defined terms and conditions then there are procedures in place to resolve these. Licensed bookies are required to take customer complaints seriously with internal procedures and if this fails there are independent services such as IBAS, the ASA and the Gambling Commission that may be able to help.
Betting Site ID and Verification Why do you have to provide identification to an online betting site? Well it comes down to the terms of their gambling licence, licenced bookmakers in the UK are required by law to check that you are over the legal gambling age and that you currently reside in the country. This is designed primarily to protect minors and vulnerable groups while also preventing fraud in the industry.
This helps make the UK one of the safest places to bet in the world. Many betting sites perform ID and verification checks without you even knowing if you register your bank details with them when you join. Read our guide to find out more. Source Of Funds Checks For Gambling One of the principal aims of licensing gambling is to keep crime out of the industry and this is primarily what source of funds SOF checks are used for.
Betting companies are obliged to check that large or uncharacteristic deposits are not fraudulent and therefore you may be asked on occasion to prove where your deposit money has come from. This can be frustrating for legitimate deposits but at the same time the rules are there largely to protect you and the industry as a whole.
Read about SOF checks, why they are needed and what is involved as well as what money sources are and are not allowed to be used for gambling. In the UK it is now illegal to use credit to gamble with, either from credit cards or other borrowed sources. Gambling companies perform source of funds checks to ensure people are not using borrowed funds and that people are not gambling with money they cannot afford to lose. Therefore gambling doesn't really affect credit scores anymore, although it still can if you use a debit card overdraft, for example.
Gambling, however, can still affect your credit rating with a lender if they feel you gamble too much and gambling transactions in general are seen as a negative signal. It all comes down to affordability. Keeping Track Of Gambling Profit and Loss Most people keep some sort of tracking on what they spend in life on outgoings but surprisingly few people accurately track what they are winning and losing when gambling. This is partly because gambling for many is a leisure activity and most of us know we lose in the long run, keeping track can seem like a chore.
For those bettors that win more than they lose, though, keeping track of deposits, withdrawals, winnings and loses are essential in the same way it is critical to an business that hopes to success to know what they are spending and making. In this guide we look at some easy ways to track your gambling spending.
The money however is not protected in the same way that your money in a bank would be and to complicate matters its is up to the operators what level of protection they opt for with your funds. Therefore if a brand does go bust there is a chance you could lose what you have in your account. This however rarely happens and even when it does there are signs you can spot along the way that could mean you could get out before it goes under.
Read our article to find out what happens to bookmakers and casinos when they go bust, in the real-world and online. It is not uncommon for people to open betting accounts and then forget they have them. Alternatively, people decide to take a break from gambling or cannot login to a site for a long period of time for a multitude of reasons, such as working abroad. When the time comes that you remember you had a betting account or you are able to log into it again then often, if this is over a year since you last visited, you will find your account has been classified as dormant.
These accounts can be reactivated but may be subject to periodic fees charged for maintenance. Find out more about dormant accounts and your rights. Gambling is of course regulated largely to protect people from harm and companies from being used for criminal means. The reality though is gambling is part of life and people 'bet' on all sorts of thing with their friends, for charity or during social events down the pub. Given the stringent laws around gambling you might expect you would need a license to host these types of events or take bets but in reality there are lots of forms of gambling that are allowed legally, if, for example, it is non-commercial or is below certain stake and payout thresholds.
Do you have to declare winnings from private bets, do you need to pay tax on them, are they classed as a gift, income or something else? What happens if something goes wrong too, should you draw up a contract if you are placing a big bet with someone else?
Generally there is nothing wrong with a private bet as long as no one makes a cut out of it, but proving the source of those winnings can be difficult. We've all been down the pub when there is a quiz on and decided to have a go for fun. From a gambling perspective, however, where does this fit in?
You might think it's harmless fun and therefore slips under the radar but in actuality there are firm rules around quizzes and games in pubs that publicans need to be mindful of before offering quizzes with prizes. We cover the main rules and thresholds around pub quizzes and games and look at differences between the rules depending on whether it is a private members club, run for charity, etc.
Are Fair Ground Games Gambling? Are They Rigged? Fair ground games are not actually classed as gambling as they do not pay cash prizes, rather you are paying a fee to enter a game, which is very different. While they may not be classed as gambling there are people, and children, who spend a lot of money on the likes of hook-a-duck or balloon-burst and so how are they actually regulated?
There have also been a lot of stories down the years of these games being rigged, we look at how games have been fixed in the past and common strategies to beat some of the ploys used in these games. Can You Raffle Your House? In recent years, however, people have begun raffling things of far greater value, most notably their houses.
There is an obvious attraction to the seller in that they can avoid estate agent fees and perhaps end up with more than market value while the winner obviously gets a house whose value far exceeds the ticket prices. The problem is many house raffles do not go smoothly if not enough tickets are sold. Here we look at the rules around raffling a house. Even with the rise of online betting the lottery is still the most bet on single game in the UK.
British people seem to have a special affinity with playing the lottery and can, in fact, play more lottery games than in any other country. With so many different games available from the standard Lotto to variations such as Thunderball and Hotpicks, international lotteries such as EuroMillions as well as independent lotteries such as the health and postcode games how do you know which offer the best value?
In our guide we've looked at the various games, prizes and your chances of winning to help you decide. Luckiest and Unluckiest Lottery Numbers We've looked at the major national lottery draws over time to see what numbers are the luckiest and unluckiest over that time in terms of how frequently they were drawn. The answer is, unsurprisingly, that over a long period of time there is not that much difference between the numbers, given the draw is supposed to be random.
Still, there are some interesting variations, such as the number 13 consistently falling into the less frequent category across a range of different lottery types. Most Commonly Picked Lottery Numbers It is important to know how popular the numbers you pick are because if you actually win the jackpot it means you will be sharing it with everyone else who picked those numbers. Popular numbers are often picked based on how often they have been drawn before or using specific sequences.
The sequence is obvious, and is played by roughly 10, people each draw, but other sequences that crop up are less well know. Here we look at the most commonly picked numbers to help you pick numbers that are more unique, meaning if you win you will have to share it less. What do you do if you do win though, how do you go about claiming and what are the procedures depending on how much you win? What if you win but your ticket is damaged or you can't find your ticket, can you still claim?
Also what happens if you don't claim in time, how much time do you have to notify the National Lottery that you are a winner? All important questions if you have actually won a big lottery prize. Chances Of Winning The Lottery In Your Lifetime We occasionally hear stories of people who have only ever bought one lottery ticket winning the jackpot.
In truth though most people that win the lottery play it for years before they win big and for many more they never win at all. Here we look at what the actual chances are of winning the lottery jackpot in a lifetime, depending on what age you start playing and how many tickets you buy each week assuming an average lifespan of 80 years. What Countries Tax Lottery Winners? We've become pretty used to the fact that you don't pay tax on gambling winning in the UK, that doesn't mean there isn't tax it is just paid by the operators and factored into the ticket cost and prizes.
In many other countries, like the USA, winners do often pay tax on winnings, though. This can be important for people who play lotteries when abroad as you will likely be liable to pay local taxes on winnings. Here we look at countries that do tax lottery winners and what the rates and rules are. Everyone who has ever bought a lottery ticket has dreamed of what they would spend the money on if they won the jackpot.
With so many possibilities in the world you would imagine that people would spend their winnings on all sorts of weird and wonderful stuff. In actuality most winners spend their money on very similar things, mostly cars and houses, as you might expect. Here we look at some of the biggest lottery jackpot winners from the UK and abroad and ask what do they spend their winnings on and why.
Lottery Fraud Winning the lottery can be a seminal life moment considering the staggering prizes available but that also makes it a tempting target for fraudsters. Lotteries represent the biggest gambling product in the world in terms of the total number of people who play and over the years there have been more than a few people who have tried to defraud them.
On this page we look at some of the biggest fraud stories from the National Lottery and lotteries around the world over the last few decades along with how they were caught and detected. We all know the likes of the National Lottery, Health Lottery, etc.
Many of these lotteries are above board and you don't necessarily need a gambling license to run a lottery if it is run for charity, no profit is made and prizes and tickets are below set thresholds. Still, there are also many more nefarious people who run illegal lotteries, particularly online and especially through social media platforms. Here we look at how big the problem is, what makes a legal lottery and how to spot the dodgy ones. When Lottery Syndicates Go Wrong Lots of people play the lottery in a syndicate because it is a social way to play the game and at the same time makes you more likely to win given you have more tickets in any given draw, yes you may not win as much as if you play on your own but it is nice to share winning moments with your friends if you do win.
Many syndicates have won the jackpot over the years and the majority of winners have gone away happy. This isn't always the case, however, and there are instances where syndicates have gone wrong; which is exactly what we are exploring here. The National lottery can currently roll over up to four times after which it 'must be won' and if no one wins the jackpot at the fourth time of asking there is now a 'rolldown' that disributes the top prize to lower tiers of winning tickets.
These changes were partly brought in due to responsible gambling and people tend to purchase more tickets for rollovers due to the higher jackpot amounts. In the old days draws required human hands and this made lottery fraud rife, in the modern day, however, we have nice sparkling automated machines that are tested and ensured to be fair. Here we look at how lottery machines are made, who makes them and how good the security is. For many people the lottery isn't seen as gambling in the same way as casino games and sports betting but in reality it is governed under the same laws and ultimately has the same responsibilities to uphold.
Still, the lottery has a special place in peoples minds and especially the government, who often seem to be 'soft' on the lottery thanks largely to the fact it funds good causes, that means the government doesn't have to.
The lottery is definitely treated differently to other forms of gambling but the question is is that right? What Was The First Lottery? Lotteries today are the biggest form of gambling in the world in terms of the number of people who participate in them. You can even find lotteries in many places where other forms of gambling are illegal, demonstrating these games have a special place in national cultures.
Where did it all start though, what were the first lotteries recorded, first lotteries for cash prizes and first national lotteries? The odds of winning the lottery do not change, each draw is random and independent from each other. Therefore, playing the same numbers every week makes no actual difference to the chances of you winning any given draw at any given time.
There are a few upsides of playing the same numbers each time, such as not forgetting to enter and making it easy to check the results, but there are far more downsides. Often playing the same numbers can lock you in to playing the lottery long term as naturally people may fear that if they stop playing then their numbers could come up. Placing a lucky dip on the lottery can seem like the easy option but in actual fact it has many advantages over choosing your own numbers that you then feel you have to play every week.
Lucky dips are generated using a pseudo random number generator, they are not truly random but close enough. On this page you can read about how lucky dips worth and the benefits and disadvantages of playing them. In some rare instances that may be something incredibly valuable like a winning lottery ticket. We've all read stories of unclaimed big prizes or prizes claimed late near the deadline but what should you do if you believe you've won the jackpot or a decent prize but you've lost your ticket?
Luckily there are processes and procedures in place to deal with this, if you can provide information about where you bought a ticket, time and date and how you paid you can often still get paid out even if you've lost the actual ticket. Most people who win a prize on the lottery or on a scratch card will claim it almost immediately but there are also many reasons why people may not, including; losing a ticket, being away from home or simply forgetting about it. With the lottery things are pretty clear cut, you have days from the draw date to claim and if you don't it will go to good causes.
With scratch cards it's more complicated as there is no set end date, specific games are withdrawn when all the top prizes are paid or all the tickets are sold in that run. After this time the operator announces a period in which prizes can be claimed, although most players wouldn't know about that.
It doesn't happen too often that people share the lottery jackpot, especially since they increased the number of balls in the standard lottery to 59, but it does occur occasionally. It is not ideal sharing a jackpot but it's better than not winning at all, but what happens if the other person or people sharing the jackpot do not come forward?
What happens to the rest of the prize? Unfortunately the winner that did come forward won't get the other share s of the prize if the other people don't make a claim within days, rather it goes to good causes with all the other unclaimed prizes. How To Play The Irish Lotto The Irish Lotto is actually older than its English cousin and in recent years has become a popular game to play outside of Ireland thanks to its generally better odds compared to the other lotteries, such as the UK's.
You can often play the Irish Lotto through UK betting sites but this isn't the same as playing for real, they just offer fixed odds bets. Some sites do let you play for real either by buying tickets for you or matching prizes using an insurance model.
Find out how to play the Irish Lottery, odds and prizes and how it compared to the UK lottery. Many betting sites will offer lotto betting but generally this is not the same as buying an actual ticket. Instead you are betting on fixed odds markets linked to national lottery draws from around the world but you are not buying real tickets. None of the money goes into the pool and none of it goes to good causes.
There are benefits, such as variable stake amounts and markets not available on the real lottery. Some bespoke sites, however, do let you enter real lotteries where you can even win the jackpot by acting as a proxy for you or by employing an insurance model. People Who Thought They Won the Lottery But Didn't We are always reading news stories about lucky lottery jackpot winners but what we don't often hear about are those that thought they had won the jackpot but it turned out they didn't.
Whether that was because the didn't have funds in their account to buy a ticket automatically, they had binned their ticket and not reported it lost or they simply made a mistake and went on a spending spree before they realised. Here we look at some of the biggest near misses from the UK and abroad. Who Are Allwyn? The New UK Lottery Provider Camelot had become synonymous with the UK lottery having run it since it started in and despite receiving some criticism over the time it was still a shock to see they lost the latest renewal of the UK lottery license due to start in to Allwyn.
But who exactly are Allwyn? Well, they are part of the Sazka group, a company that run some of the biggest lotteries across Europe and they impressed the UKGC when awarding the license thanks largely to their more progressive approach to good causes, a key constituent of running the lottery.
Still, they are not whiter than white and there are connections with Russia that have caused concerns. When the internet first came about online gambling was a wild west rife with fraudulent and criminal money. This is a significant reason why gambling laws and licensing were brought in in the early 's to make the industry safer. As time has passed fraudsters have got cleverer at their practice and in response constant new rules are always coming in around verification, payment methods and other aspect to protect the industry.
The question is is this actually working, is the industry now safer? If people are still committing gambling fraud how are they doing it? Famous and Infamous Betting Shop Crimes Betting shops are generally located in inner cities and close to residential areas, to be near the people that want to use their services. They are also open later in the evening and they obviously have cash on the premises more so in the past than now , this has naturally made them a hotbead for crime over the years.
While betting shop robberies, fraud and crimes are not as common as they once were they do still happen and can be a shocking ordeal for those that get caught in the cross-fire. Here we look at some of the more famous betting shop related crimes in recent years. How To Bet Online When Abroad Rules determining whether a UK licenced bookie will let you bet when you are in another country vary depending on licensing, regulation, legality and ultimately whether the bookie chooses to operate in that region.
In this article you can find the best UK betting sites for coverage abroad, details of licencing and other rules that apply, tax laws, using VPN's and an FAQ to betting when abroad. Gambling Laws Around The World We get a bad reputation in the UK as a nation of gamblers but in actual fact we have some of tightest regulation in the world. The UK allows provision of almost all gambling services but under strict licencing rules designed to protect minors and vulnerable people. Around the world however gambling laws are a patchwork that range from totally illegal to totally unregulated.
Find out how laws in major countries around the world compare to the UK. Gambling Crime and Punishments We all know that in spite licensing of legal bodies like the UK Gambling Commission gambling crime still happens. Whether that be money laundering, stealing identities or money, allowing underage people to gamble or match-fixing, we all know that it isn't allowed.
The question is, though, what actually happens to people or companies caught committing gambling crimes? What types of fines or prison sentences to these crimes carry and are they enough of a deterrent? Biggest Gambling Countries We all know Brits are a nation of gamblers with one of the biggest industries and highest per head gambling rates in the world. What about other countries though? Where else in the world is gambling massive?
We look at the top 5 nations for gambling across the globe looking at overall gambling yield and amount per capita, some of the results may surprise you. Gambling Holidays and Tourism Gambling is a leisure activity, or at least it should be, and therefore it is no surprise that people travel to gamble.
After all this is why we have places like Las Vegas in the USA and Macau in China, mega multi-billion resorts dedicated to betting and gaming. It still may surprise you though to see that amount of people that actually travel to gamble and how far they are willing to travel. It is not just a holiday for some people too, for those that live in places where gambling is illegal it offers one of the only options to do it. Places Where You Pay Tax on Gambling Winnings We've become very used to the fact we don't pay tax on gambling winning in the UK, which doesn't mean there isn't tax, it means its paid up front by the operator and factored into their margins.
The point is though when you do win you don't need to worry about any tax due. That is not the same in many other places in the world, however. The US for example does tax gambling winnings and there can be differing taxes on a state level.
Many other countries tax gambling winnings too. Brexit and Betting Gambling is actually already regulated and taxed on a country by country level and so Britain leaving the EU should make very little difference in daily life for UK and EU punters. What is likely to change is how betting companies sell their services around the EU and where they are based, this along with possible post-Brexit tariffs could increase costs that will be past on to punters.
Used as a military base for centuries and still is today in the late 20th Century the overseas territory began to struggle as its military importance waned. Struggling to survive on tourism alone Gibraltar was able to reinvent itself as the go to place to set up and run a gambling business in Europe. Victor Chandler was the pioneer in the late 's and today the place is unrecognisable and its fortunes have never been so good. Are Betting Syndicates Legal?
Many people bet in syndicates, either on the lottery or sports such as football and horse racing. The idea is to combine stakes and winnings to give the group an overall better chance of ending up in profit. Some syndicates share the winnings out others put it towards a special day out, like a visit to the races.
Harmless fun, maybe, but in many cases sportsbooks do not actually allow them as technically you are betting on behalf of other people, which goes against the terms and conditions you signed up to. Therefore, are syndicates allowed and how can you place a syndicate bet legally? It may seem quite innocent to login into someones account or go to a shop and place a bet for them if that person cannot for some reason, likewise you may place a bet for someone else through your own account for them common for the Grand National, for example.
While this obviously does happen it isn't actually allowed, when you join a site you agree that you will only bet for yourself with your own money and so technically you are contravening terms and may even be doing something that is fraudulent. Read more about the rules around betting on behalf of others on this page.
Certainly there are many friendly reasons why you would want to claim someone's bet slip but the rules are in place to stop criminals claiming other peoples winnings. There are numerous instances of people claiming bet slips they find thinking this is acceptable under a 'finders keepers' rule but it is actually illegal and you can be prosecuted for fraud by false representation.
Most commodities in the world can be bought or sold including financial products such as share, mortgages and other financial risk. On that basis you might think it would be perfectly fine to buy or sell a bet but in actuality it is not allowed. When you place a bet with a licensed bookmaker you are entering into a personal contract, they need to know who you are and where your money came from and where the winnings are going, to prevent money laundering and other things.
Therefore, it is not possible to buy and sell a bet privately but there are other options such as cash out or laying on an exchange. Betting exchanges in recent times have actually proved to be a better gauge of public opinion than official polls and surveys. This is especially true in politics where exchanges have predicted the correct result in recent times when polls have been way off. It is effectively because people are more prepared to put their money on what they believe than to always say what they believe.
Like the old sweet jar analogy, if you get people to guess the number of sweets in a large jar then the average will actually end up being pretty close to the answer. The Battle Between The Bookies And The Exchanges In the early days of online gambling the existing high street bookmakers who monopolised the industry were initially quite fearful of betting exchanges. To begin with Betfair and exchange betting was small fry and bookies labelled them as simply for nerds.
As they began to grow the big fixed-odds betting companies began to attack exchanges, labelling them as creating a platform for match fixing and lobbying in government to put restrictions on them. Ironically as time went on the bookies began to see how useful exchanges are for setting odds and even offsetting their own liabilities and eventually embraced them.
Betting exchanges have been shown to offer better odds in general than fixed-odds bookies, meaning more longer term value for the customer. They also allow customers to lay bets to other people to back, effectively betting on something to lose, due to the peer-peer nature of the product. The exchange itself just takes a commission. Given these obvious benefits why doesn't everyone use them then?
Well there are drawbacks too such as low market liquidity in some markets, a lack of depth and few promotions. They are very transactional and this doesn't suit some people who care more about the experience than the value. Related Contingencies What are related contingencies and how should you go about betting on related events? It is often difficult to understand what bets are related and what bets are not, this affects the type of bets your can place and the odds you are given.
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