underage Gambling and Bookmakers

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underage Gambling and Bookmakers

Postby bolpx001 » Sun Dec 11, 2016 1:44 am

I have had a number of accounts limited by Bookmakers, presumably because I actively seek to win more than I lose, even to the point of one bookmaking firm (Paddy Power) restricting my account despite it losing more that it won. But that is not the reason for this email. Recently I opened a 32Red account and deposited 500 euros into it. 32Red never offered any odds that appealed and never offered odds on next-day horse racing, so I decided to withdraw my 500 euro and move on. 32Red however refused to return my 500 euro claiming that I needed to verify my age details etc.
I don't have a problem with account verification but I think it is wrong to only request it when a customer wants to withdraw money. They would happily allow customers under 18 to gamble and lose, but if they win and want to withdraw money then suddenly verification becomes an issue. Surely one of the main reasons for verification is to ensure that underage people don't gamble. Current bookmaker verification practices do nothing to address this. As far as I can see it is just a device to hold onto their customer's money for a little bit longer.
best regards
Paul
bolpx001
 
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Re: underage Gambling and Bookmakers

Postby Daywalker » Sun Dec 11, 2016 9:28 am

You are correct.

It is one of many problems with the gambling industry. All the rules and regulations get such a heavy lobby from the industry that they end up being soft or ineffective.

The situation you describe is ridiculous and one that I have experienced more than once. I remember when I first wanted to trade Australian markets on Betfair; I had to go to the post office to verify my identity. There's no other reason than objections from the industry why this shouldn't be common place. I don't believe any reasonable person really needs to suddenly open an account and bet instantly without verification.

With recent reports of the shenanigans of bookies withholding monies you'd think that action would be taken, we'll see if those in government/regulation do anything. I don't recommend holding your breath.
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Re: underage Gambling and Bookmakers

Postby Craig » Fri Dec 23, 2016 11:14 am

This is typical of the cynical outlook of the bookmaking firms, bolpx001.

Of course they would have been perfectly happy to watch you slowly but surely lose your £500 if you were a regular punter — they wouldn't have cared less if you were 18 years old or not.

You committed the crime of not losing your money to them, so time to apply the 'Know Your Customer' scam.

Experience tells them that some of their customers won't be able to verify, or for smallish amounts won't be bothered to do so.

After a number of months these accounts will be classified as dormant. No prizes for guessing what happens to the funds in dormant accounts:

http://www.racinguk.com/columnists/read ... -dormant-a

If bookmakers don't simply trouser the funds – and many of them do – then they'll salami-slice it with 'administration fees'.

Daywalker is absolutely correct, the Know Your Customer regulations don't do anything to protect anyone other than the bookmakers.
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