Is it legal to use somebody else’s bank account for gambling.?
A friend of mine has been asked by a professional gambler. If he can open a bank account for him to use. The gambler will put money into the account and use the account to Gamble online with bookmakers. He has told him it is completely legal.
Is he being told the truth?
Will he be breaking any laws at all is he goes forward with this proposition?
The professional gambler does this because the bookmakers restrict the amounts professional gamblers can gamble.
- Divide By ZeroLv 78 months agoFavourite answer
> "because the bookmakers restrict the amounts professional gamblers can gamble"
Bullshit. Using someone else's bank account wouldn't circumvent that. The restrictions are on the wager sizes, not on the amount of money you can have in your bank account lol. He'd need to use someone else's sportsbetting account (a practice known as "bearding"). But also, since it's the UK, he can bet on exchanges like Betfair and Matchbook, which don't give two shits about professionals because their profit comes from commission. Plus there are traditional bookmakers that restrict winning bettors, for instance Cris and Pinnacle.
The gambler is lying and therefore your friend shouldn't do it. I'm not sure what their motive is (probably tax evasion), but it's not a pure one.
- ErikLv 78 months ago
Your friend is asking for trouble. Just don't do it.
- Jay PLv 78 months ago
If it was legal, why would he be asked to do this in the first place??? Why would the gambler not just open his own account? Whatever excuses the gambler gives, it's still raises a bunch of red flags...
- 8 months ago
This is in the uk not USA
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- EvaLv 78 months ago
It is not legal. It is money laundering and the guy is trying to avoid being tracked by the IRS.
- KiethLv 78 months ago
It's fraud, and the account activity on his name will make him suspicious to law enforcement and the IRS.
- IanLv 58 months ago
Sounds like tax evasion, for which your 'friend' will be responsible for...less time for manslaughter than stealing from 'the man'.
- ANDRE LLv 78 months ago
100% scam. As can be seen by the fact that the bookmakers have rules against this.