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Betting deposit on bank statement
superkick40
Posts: 18 Forumite
We are likely submitting a full application in the next few days. However this weekend we are at Cheltenham for the racing. This has been booked since the start of the year and at that time we thought wouldnt be buying until next year but now we are I dont really want to ruin my application if a betting deposit is going to do so. We always give ourselves £5 each per race so would be £70. Would I be OK putting this into my betting account or am I best taking the cash out and placing bets at the course?
I am not a big gambler and my last bet was probably over a month ago and would have only been a £5 deposit so its not like there is a long history of deposits to bookies
I am not a big gambler and my last bet was probably over a month ago and would have only been a £5 deposit so its not like there is a long history of deposits to bookies
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Probably more for the Mortgages board, but I don't get the impression that occasional betting is a problem, only if it seems to be a major and regular part of your expenditure.0
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You’ve probably answered your own question. No application has ever been rejected because there weren’t any gambling transactions showing. However, if your application were rejected and you did have gambling transactions, you’d likely regret it.superkick40 said:We are likely submitting a full application in the next few days. However this weekend we are at Cheltenham for the racing. This has been booked since the start of the year and at that time we thought wouldnt be buying until next year but now we are I dont really want to ruin my application if a betting deposit is going to do so. We always give ourselves £5 each per race so would be £70. Would I be OK putting this into my betting account or am I best taking the cash out and placing bets at the course?
I am not a big gambler and my last bet was probably over a month ago and would have only been a £5 deposit so its not like there is a long history of deposits to bookiesI have a tendency to mute most posts so if your expecting me to respond you might be waiting along time!0 -
More of a thrill using cash, so, your £5 wager wins at 20/1, feel the buzz when you go to collect £105, and winnings are tax free.1
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Mine was littered with them when I did mine and nobody batted an eyelid.0
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Or you could just enjoy the races, have a nice day out, and not bet? I like to watch F1, swimming and athletics, but it’s never occurred to me to bet on the outcome.1
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Or, draw cash out and use on course bookmakers.BridgetTheCat said:Or you could just enjoy the races, have a nice day out, and not bet? I like to watch F1, swimming and athletics, but it’s never occurred to me to bet on the outcome.1 -
Use cash.1
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However normally you can get better odds online.FrugaiMacDugal said:More of a thrill using cash, so, your £5 wager wins at 20/1, feel the buzz when you go to collect £105, and winnings are tax free.
Especially for 20/1 outsiders on Betfair exchange, where you could get 30/1 or even more, so another £50!1 -
However unlike the sports you mention , betting and horse racing are traditionally entwined, so are an integral part of the experience of a day at the races .BridgetTheCat said:Or you could just enjoy the races, have a nice day out, and not bet? I like to watch F1, swimming and athletics, but it’s never occurred to me to bet on the outcome.1 -
Unlikely to be an issue in circumstances set out. Lenders are looking for trends which may indicate a problem, not a one-off.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.1
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