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Gambling/mortgage enquiry
Comments
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Gambling is not a business unless you are a bookmaker. The only way you can guarantee to make a small fortune from it is to start with a large one.
You cannot promise anyone that you will not become bankrupt. In my opinion, clinging onto that viewpoint only make you more likely to become so.
If the activity is visible on your financial records, even it is has no decisive negative impact, it will not offer the banks much comfort when making a lending decision.0 -
If your winning is "guaranteed" bet 10x more on each bet, hell go all in every time, and who needs a mortgage in a year or 2!!The instructions on the box said 'Requires Windows 7 or better'. So I installed LINUX
:D0 -
The guy only asked if it will affect his chances of getting a mortgage yet most have turned in to his mum! lol
In answer to your question. YES, gambling even a few quid a week will affect your chances of obtaining a mortgage.
I had around 30 quid a week on my statements and no lender would touch me except Halifax who do not ask for bank statements.
So as others have pointed out you will need to stop a few months beforehand. any transfers showing on your statements to say Paypal they will then want to see them statements too.
The reality is lenders dont want you to gamble even if its a few quid a week in my case even though what was coming back was a hell of a lot more than going out as it is in your case too.
Hope that helps0 -
Gambler101 wrote: »If your winning is "guaranteed" bet 10x more on each bet, hell go all in every time, and who needs a mortgage in a year or 2!!
That's actually a good point!
If you can make 20k in 2 months then surely, with the same method, you can make up the mortgage money within a year?
Just build your bankroll and buy a house! Sod the mortgage!0 -
If you are winning each month, why can you not leave say £1k in Paypal and then use that money?
That way, there would be no regular payments into Paypal (from your bank account), only withdrawals?
It makes no sense to load Paypal, place x amount of bets and then withdrawal back to Paypal (any winnings you have accumulated) (as most sites will not let you withdrawal back to an alternative source if not loaded by that source (money laundering concerns) and then withdrawal from there to your bank account, if I have understood correctly?
HTH
s_dSometimes I wonder...
"why is that frisbee getting bigger?"
...and then it hits me
:rotfl::rotfl::rotfl::rotfl:
Jesus loves you...A nice thing to hear in church, but a horrible thing to hear in a Mexican prison
:rotfl::rotfl::rotfl::rotfl:
Light travels faster than sound. This is why some people appear bright until you hear them speak.0 -
stinky_daddy wrote: »If you are winning each month, why can you not leave say £1k in Paypal and then use that money?
That way, there would be no regular payments into Paypal (from your bank account), only withdrawals?
It makes no sense to load Paypal, place x amount of bets and then withdrawal back to Paypal (any winnings you have accumulated) (as most sites will not let you withdrawal back to an alternative source if not loaded by that source (money laundering concerns) and then withdrawal from there to your bank account, if I have understood correctly?
HTH
s_d
I think stinky_daddy has hit the nail on the head there and is your perfect solution. Providing your Bank statements show no transactions to Paypal that method gets you home and dry :beer:0 -
Give the guy a break, he has only asked a simple question.
The OP is quite correct, he can easily earn £20k in 2 years if he follows a successful tipster or two. No doubt there are a lot of inplay bets and odds-on bets, so depending on your starting pot and your percentage per bet then of course it is possible to earn such a high amount.
So to the people who are lecturing him and telling him its not possible, until you know what you are talking about.. stick to the financial side of things.
As per the mortgage question, I have no idea if it would affect you, there are more qualified people on here than me to answer that.0 -
Please tell us which tipsters you follow ! :rotfl::rotfl:0
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The posters above are right - gambling as a punter is by no means a business, however as you're regularly getting lucky you may be smart to take £15k of that profit into a savings account (or even premium bonds if you fancy a passive flutter!) and then just churn from your paypal account until you wither have another £10k to transfer, or have lost the lot (in which case consider the game over and that you won by £15k).
That was the deopsit money is in a rugged, reliable account earning a bit here or there, and is liklely 'clean' for deposit purposes after a couple of years.
You could also consider a Revolut account (they do real bank accounts now) for your flutters, use of a credit card, etc.0 -
stinky_daddy wrote: »If you are winning each month, why can you not leave say £1k in Paypal and then use that money?
Is the correct answer.
If you're managing your bankroll correctly, working with profit/loss margins and pts/% then you shouldn't be depositing anything at all from your bank account.
In my experience, if you have to 'top up' your betting account with more money from your bank, then it's to chase a loss.0
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