Would bank take a dim view of one off betting transaction?

The_pc_tech

I bank with First Direct.

I play the lottery by direct debit (one line on Wednesday, one Saturday) and will play Euromillions via the site when it rolls over (I credit lottery account with a tenner which is the minimum amount Camelot now accept) purchase the ticket and transfer the rest back.

I am also in a syndicate at work that puts lines on the Euromillions when it rolls over and I transfer 16 quid to our syndicate manager who banks with Lloyds when needed to maintain a stash but its got a clear description of what this is.

Now I'd like to place a very small (fiver) bet on the Grand National which will of course show as a debit card transaction to a bookmaker as I wouldn't go near any of the local betting shops.

I am most definitely not getting into a betting habit but from what I've read round here I get the impression banks take a dim view of such transactions.

As I say its a one off, is it likely to cause me a problem with my bank?

grumbler

I think they don't care about a few small transactions.
Big recent transactions reportedly can cause problems if you apply for a mortgage to this bank or a bank from the same group.

Personally, I have never had any problems, although I don't need a mortgage.

Gromitt

Extremely unlikely if you are using your own funds.

Now if you were regularly using your overdraft for gambling sites, then yes, they are likely to take a dim view.

Likewise, a slew of transactions to gambling sites when applying for credit might be a problem, but only with the same bank, as others wouldn't see such transactions.

Buzby

The Merchant code will show up that you used your card to bet, and depending on the card (if a CC is used) incur cash fees.

It would be easier to take the cash out at an ATM - they'll then have no idea what the funds were used for!

HappyMJ

The_pc_tech wrote: »

I bank with First Direct.

I play the lottery by direct debit (one line on Wednesday, one Saturday) and will play Euromillions via the site when it rolls over (I credit lottery account with a tenner which is the minimum amount Camelot now accept) purchase the ticket and transfer the rest back.

I am also in a syndicate at work that puts lines on the Euromillions when it rolls over and I transfer 16 quid to our syndicate manager who banks with Lloyds when needed to maintain a stash but its got a clear description of what this is.

Now I'd like to place a very small (fiver) bet on the Grand National which will of course show as a debit card transaction to a bookmaker as I wouldn't go near any of the local betting shops.

I am most definitely not getting into a betting habit but from what I've read round here I get the impression banks take a dim view of such transactions.

As I say its a one off, is it likely to cause me a problem with my bank?

I regularly deposit well over £3,000 a month into gambling websites and spend at least £100 a day on bets...I do look like an addicted gambler when I look at my bank statement but I'm not....honest..... I only earn £1,000 a month. Is that bad? No. I never use my overdraft and my credit is good.

Just to reassure you I don't actually lose any of the money that I staked. I match bet backing all results of a match guaranteeing a win. I make about 1% profit...i.e £300 a month for about an hours work each day finding the bets.

The_pc_tech

The betting shops round here are in really rough places so I wouldn't go near them.

I'm not in my OD and since I have been with FD only used a max of 50 quid of a 500 quid OD and that is generally just before pay day anyway.

Thanks all for your responses I'll take my chances.

[Deleted User]

Hi,

your local bookies are surely not that bad?

Just wondering what info you've got when you're gonna splash a fiver, is it Katie Walsh and Seabass, could be first woman to win National, she was third on same horse last year.

The_pc_tech

Don't look at me for tips.



I'll probably go for the horse with the worst odds or one I like the sound of.

As I you've probably gathered I know absolutely nothing about horse racing.

I gather you have never visited what our local council (and local radio station) refers to as the UK's best new city despite the fact the Queen has now denied it City status three times now.

Bill Bailey is not wide of the mark when he refers to it as 'Satan's layby'

Yep I'm talking about ........

Google the references I've mentioned above and you'll find out where I am referring to.

dalesrider

Odds on they won't care.

macman

Banks don't manually analyse your transactions unless there is an issue on the account.

Biggles

The_pc_tech wrote: »

The betting shops round here are in really rough places so I wouldn't go near them.

Nearly every High Street has at least a couple of bookies shops; or maybe you have a rough High Street?

But as regards the bank, no, they don't take a dim view of such transactions, it's all business to them, and it's legal.