Discussion in 'MMA Betting Discussion' started by Roads55, Sep 29, 2018.
if you have you will probably know what I am talking about in regards to information they want.
Only emails I had were regarding offers, I don't use them that much though, really only if I'm live betting which is rare given the timezones.
What did they want?
Glad I wasn't the only one getting this email. Really thought I'd done something to flag my account up.
I got one
haha what is was tell us
They’re asking for bank statements so you can prove the money your gambling has come from legitimate sources.
I didn’t bother and still managed to deposit/withdraw and bet this weekend, I’d expect that to get a hard stop put to it though if I don’t provide the information.
well stretch only mentioned 1 thing they wanted.
they asked me and i assume others for:
a recent payslip, your latest P60, director renumeration, dividends or pension statement
a statement of recently won funds from another betting company
a bank statement that shows consistent payments form an identifiable source
a trust deed showing that I am entitled to my own money (WTF!)
and "other" clear evidence that confirms where your money came from showing that you can afford to make deposits.
absolutely ludicrous. Not using them anytime soon. they said the account will be suspended if i don't comply so fuck them.
I would assume it's just a way of putting off winning gamblers from using them, without having to actually restrict them.
That is absolutely insane.
doubt it, why wouldn't they just ban you? not like it books are shy like that. i've been limited for a year or so with them anyway.
yup, that's on top of the normal Passport, and proof of address most books require..
Bro, you just need to provide one of those, it’s anti money laundering regs we have in the UK.
All the big banks are subject to this regulation and I can only assume they are cracking down on gambling firms now also.
It’s just so you can prove the money you are using is legitimate and not there proceeds of crime etc.
It won’t be anything to do with them trying to limit us or anything.
This doesn't affect me in the U.S.. But giving that kind of personal financial information to a bank I had an account at would be bad enough. Giving it to a bookie for any reason or because they use a bank that I have zero relationship with would be a hard no.
Thats not really how it works though I'm afraid.
Because they are trading in the United Kingdom they will have an obligation to abide by the laws set which is probably taken from the anti money laundering regulation (usually reserved for house deposits) -
Regulation 28 (S11(a)) - "...scrutiny of transactions undertaken throughout the course of the relationship (including, where necessary, the source of funds) to ensure that the transactions are consistent with the relevant person’s knowledge of the customer, the customer’s business and risk profile;"
Regulation 35 (S5(b)) - "...take adequate measures to establish the source of wealth and source of funds which are involved in the proposed business relationship or transactions with that person;"
I haven't familiarised myself with the UK gambling regulations but there could/most likely is something in there about it too.
I think marathon have probably conducted a risk assessment and their answer to what they must see as a high exposure is to ask every client for this information and not to tolerate the risk of incident should it arise.
I would expect them to ask for this information from the highest depositors but I wouldn't consider my deposits and withdrawals (probably less than 10k per annum) to be in that group so they must be applying the ask to everyone.
Don't be surprised to see other books follow this model in the future. I hope not though.
Could be to identify full time professional cappers whose sole income is betting, but isn't marathonbet an exchange where they don't care if you win or lose?
No it's a regular sportsbook, albeit one with generally higher limits (for me anyway).
That’s a very good point - certainly would seem foolish of them to ignore that when they have the information at their disposal to identify this.
ahh didn't realize it was just 1. gonna wait till pyty gets a response and see what they say. just find it strange I've never had an email asking for these types of infor before and I've used a LOT of books for many years
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