{"id":1925,"date":"2020-12-04T19:50:24","date_gmt":"2020-12-04T19:50:24","guid":{"rendered":"https:\/\/www.newbettingsites.co\/?page_id=1925"},"modified":"2023-08-16T14:56:38","modified_gmt":"2023-08-16T14:56:38","slug":"can-someone-give-you-money-to-bet-with","status":"publish","type":"page","link":"https:\/\/www.newbettingsites.co\/articles\/can-someone-give-you-money-to-bet-with\/","title":{"rendered":"Can Someone Give You Money To Bet With?"},"content":{"rendered":"
How many times in life might someone be in a situation where they are placing a bet on behalf of someone else<\/a>? Perhaps you\u2019re going to the bookmakers to place a wager on the outcome of the Grand National and someone asks you to do one for them, too. Maybe they don\u2019t have an online betting account, so they\u2019ve asked you to put a bet on a football match for them.<\/p>\n There are numerous reasons why it might happen, but the reality is that you\u2019re not allowed to do it and if a bookmaker knew that you were then they could reject the bet or void it. The only time that someone else can give you money for you to bet with is if it is a gift and they\u2019re happy for you to collect any winnings. It might seem strange, but it\u2019s the way the rules on betting with other people\u2019s money works.<\/p>\n If you want to read about the rules around allowing someone else to use your betting account<\/a> see our dedicated page.<\/p>\n The rules on betting with other people\u2019s money essentially say that it isn\u2019t allowed. Whether they ask you to do it or not, you can\u2019t place a bet with money given to you by someone else, presuming that that person wants to collect any possible winnings. Bookmakers and casinos and any other licensed establishments will all follow the same rules, so your bet will be turned down if they know you\u2019re doing it.<\/p>\n It might seem ridiculous, but it\u2019s simply the way the laws are around gambling. The reason for it is that companies are legally required to be able to say exactly where money that they accept is coming from, so they need to take this into account when accepting wagers. They have no way of knowing whether the money you\u2019ve accepted to place a bet has come from an illegal or criminal element, so they can\u2019t accept it.<\/p>\n In fact, in the past this route has been used a lot to launder money<\/a>.\u00a0 In the days when fixed odds betting terminals<\/a> had stakes up to \u00a3100 per bet it was common for criminals to hand out \u00a31000 at a time to punters in cash and ask them to wager them on roulette with a 95% pay out rate, ensuring that (on average) they got back 95% of the money in clean cash with a receipt from a bookmaker.<\/p>\n Whether it be money from a minor or from someone who is not present in the casino at that time, say, those responsible have to prevent such bets being placed. It\u2019s not that you\u2019d get in trouble for trying to stick a tenner on horse for your dad when the Grand National comes around, it\u2019s just that the bookmaker would be forced to refuse the bet if they knew that that\u2019s what you were doing when you tried to place it.<\/p>\n Of course, just because something isn\u2019t allowed doesn\u2019t mean that it doesn\u2019t happen. The reason we\u2019ve used the Grand National example is because that\u2019s the race that even people that don\u2019t like horse racing tend to place a bet on. As a consequence, families will often place their bets together, or offices will run sweepstakes where everyone pays in and a chosen person then puts the bets on at the bookies.<\/p>\n The modern era of betting has made it even more prevalent. The simple truth is that numerous older members of society either don\u2019t know how to place a bet online or else don\u2019t trust it as a system, so younger people will place a bet for them. It\u2019s not exactly unheard of for that sort of thing to happen and it\u2019s also virtually impossible for bookmakers or online casinos to stop it from happening.<\/p>\n Just because it\u2019s not allowed in a simple sense doesn\u2019t mean that there aren\u2019t more complicated ways of placing bets with other people\u2019s money that are totally legal. Anyone involved in a betting syndicate, for example, will be placing bets with someone else\u2019s money on a regular basis and in an entirely legal fashion. Of course, betting syndicates have to be organised and can\u2019t just be formed on the spot\u2026.<\/p>\n Another example of a way of betting with someone else\u2019s money is via pools betting. Everyone clubbing their money together on a wager is what happens in those circumstances, so it\u2019s perfectly legal. There\u2019s also the circumstance in which someone gifts you some money that you then place a bet with. As long as that person isn\u2019t expecting any sort of return, this is totally acceptable.<\/p>\n We\u2019ve already touched on why betting with someone else\u2019s money isn\u2019t allowed, with the key factor being that bookmakers and casinos have to be able to track where money that they accept has come from. If they are unable to explain where large sums of money have been paid from then they could be fined or punished by the United Kingdom Gambling Commission<\/a> over money laundering rules.<\/p>\n That isn\u2019t the only reason, though. Bookmakers aren\u2019t stupid and will do whatever they can to protect themselves from being abused. Bonus abuse is one such example, such as when those that bet frequently using someone else\u2019s name in order to receive welcome bonuses that new customers get but those that have been betting for a long time don\u2019t. Because new accounts need to be verified, they have to belong to real people.<\/p>\n It\u2019s why bookies usually have small print in place to say that two people living at the same address can\u2019t receive a bonus or offer. It\u2019s stop someone from using an account set up in their wife, husband or teenager\u2019s name to carry on receiving bonuses that they\u2019ve already been given. The rules are in place to prevent crimes, but stopping people abusing the bonuses is also an added benefit for the bookmakers.<\/p>\n The idea of money laundering will always be seen as the main one that a bookie wants to stop from happening, though. The majority of people betting with low stakes will be able to do so with little, if any, concern. The moment that bigger stakes are involved, however, there is likely to be increased scrutiny with the need to explain where the money has come from, so as to ensure that it\u2019s all legal and above board.<\/p>\nWhat The Rules Say<\/h2>\n
It Still Happens<\/h2>\n
When It Can Happen Legally<\/h2>\n
Why It\u2019s Not Allowed<\/h2>\n