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JGM
JGM, Solicitor
Category: Scots Law
Satisfied Customers: 10103
Experience:  30 years as a practising solicitor.
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I operate bookmaker accounts for other people and make a lot

Customer Question

I operate bookmaker accounts for other people and make a lot of money doing so. I have their explicit permission and a pre-agreed divvy of profits has been agreed. Now I realise the bookmakers if they catch on will cry foul and confiscate money, I'm happy taking that risk. My question is, is the general action illegal? Betting for others with their permission and my own money?
Submitted: 2 years ago.
Category: Scots Law
Expert:  JGM replied 2 years ago.
Thank you for your question.

Can you tell me more about the procedures involved?

You said in your narrative that you were a betting with your own money. How is the involvement of the "clients" incorporated?
Customer: replied 2 years ago.

Yes. I use promotional offers from bookmakers as an edge, and have done for a long time. I went full time a year and a half ago and have gradually added one person a month (these offers are limited to a certain stake per individual), so I simply repeat any offers that have come up on every account, multiplying the income. I then split the income 75:25 in my favour.

They open a bank account specifically for betting, set up transfers to/from my personal account and their account that they would like to be paid to, and then I transfer money in whenever I need to deposit. I am the person who makes the deposits, and have full details to use and log into the 'ring fenced' account. A large part of my incentive at that people do not need to invest

Most of my work is done via the e-wallet service Skrill now, bypassing the need to deposit with banks most of the time.

The clients will take any calls from the bank (if the account is locked for too many transactions as is standard) and phone the fraud department if necessary to okay the transactions, this usually happens near the start. They are involved for any phone calls that need to happen and provide me with their identity documents to comply with bookmakers KYC (Know Your Customer) procedures and ID verification.

Some people do not give me log in details understandably, so for those people they keep me informed when any withdrawals have arrived etc and help me manage cash flow.

Expert:  JGM replied 2 years ago.
So the clients are the ones actually betting? You just have their authority to operate their accounts and place the bets and they pay you for doing so from any winnings?

If that is the case there is nothing illegal about this.

Do you have any specific concerns? If so I will be happy to help you.

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