credit search

freechips1

Hi all.
Just had a quick look at my credit report and seen bonne terre (sky), had done a soft search on me.
Why would a poker/betting site do a credit search on someone? why would this be allowed?
Is this a standard thing? Don't understand the ins and outs of this to be honest, thought company's would only do a search on you if you was applying for credit.

kapowblamz

Totally standard yes. Most reputable betting sites will do it.

Tikay10

Hi @freechips1


I can't talk specifics as to your case as I don't know them, but in general terms......

Online Gaming businesses regulated by the UK Gaming Commission are obliged to do various checks as to Source of Funds. This is not something the sites do lightly - the GC oblige the sites to do these things. And if they don't, & something goes wrong down the line, severe fines - 6 & 7 figures - are levied on the Site by the GC.

So stuff like AML checks (Anti Money Laundering) & KYC (Know Your Customer) are a staple diet of all Online Gaming Businesses regulated by the UKGC these days. KYC requires - obliges - the Sites to ensure that their Customers can afford to invest the money they do when gambling.

If you have a look on google, there are numerous cases where a punter has lost a lot of money gambling on the football, horses, dogs or whatever, & when it was later found that the source of funds was stolen money, or the result of criminal activity, the Site is levied a very heavy fine &, in extreme cases, could lose their licence.

It's also part, I imagine (though I don't know for sure) of the drive towards RG ("Responsible Gaming") by most UK Gaming Businesses recently, but particularly by Sky Betting & Gaming, who are being proactive in this.

It's absolutely not personal, but it is an obligation imposed by the UK Gaming Commission to deter "problem gambling".

Tikay10

kapowblamz said:

Totally standard yes. Most reputable betting sites will do it.

A much more efficient way of saying what took me several paragraphs to say.....

freechips1

Thank you for the response Tikay.
All seems clear now.
Just me being naive, thinking a search was only done when applying for credit.

Tikay10

freechips1 said:

Thank you for the response Tikay.
All seems clear now.
Just me being naive, thinking a search was only done when applying for credit.

@freechips1

No worries mate.

It's just standard stuff these days, & nothing to be concerned about.

bbMike

A soft credit footprint has no impact on any credit decision or anything else. It’s the hard footprints where you’ve applied for credit or have a payment plan that make a difference. They’re only checking to decide whether they think you are who you say you are.