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I do not think anyone has shared this one yet? I know a number of Forumites have complained on here about bookies only doing identity etc checks when one wants to withdraw rather than upfront?
https://www.gamblingcommission.gov.uk/blog/post/exploring-the-topic-of-withdrawing-funds-from-accounts-and-what-the-data
"It is not acceptable for operators to introduce friction when a customer tries to withdraw from their account rather than the point at which they deposit into the account..."
https://www.gamblingcommission.gov.uk/blog/post/exploring-the-topic-of-withdrawing-funds-from-accounts-and-what-the-data
"It is not acceptable for operators to introduce friction when a customer tries to withdraw from their account rather than the point at which they deposit into the account..."
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In the financial sector due diligence will be carried out soon after an application for an account or credit card. Similarly, the casinos with a 24-hr "waiting" period whilst due diligence is being carried out to determine eligibility and suitability of the applicant. Post this (if successful) the banks would compensate the account holder if a fraudulent activity has occurred without the knowledge or assistance/participation of the account holder.
Why can't this policy be included for bookies too? Bookies have been regularly found in breach of anti-money laundering (fines have not been a deterrent). The bookies have been holding the horseracing industry and punters to ransom over the last 2 decades courtesy of the toothless and cohort activity of the Gambling Commission. Do not be fooled. Bookies are oblivion to problem gambling and addiction. Bookies only care about their profit - nothing else. |
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Do not be fooled. Bookies are oblivion to problem gambling and addiction. Bookies only care about their profit - nothing else. Correct 100%
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Shareholder profits is the ONLY thing they care about. It will ALWAYS be this way.
 The only way I see this stopping, is the GC set a fine based on profits. Even then, the global bookmakers with more power money and link into government will sue the gambling commission. The only winner is the bookmaker Casinos. |
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Until the government and Gambling Commission take problem gambling and addiction seriously eg dish out a suspension from trading for a period to a bookie the bookies will carry on as they are; bookies supply the most toxic of crack cocaine in the world (legally).
And, the government is getting a share of this ill-gotten gain! |