So in Tweet 156 we talked about ‘Golden Betting Accounts’. The problem is that these days it is almost impossible to access such accounts in your own name or those close to you. So you might have to ask someone else to place bets on your behalf. The person placing those bets on behalf of someone else would be commonly known as a ‘betting beard’. The ‘betting beard’ is disguising the true identity of the person placing the bets and as a consequence they are more likely to be able to get those bets on. This is a practice that has gone on since time began and has increased exponentially as bookmakers have taken to limiting/restricting accounts. This is similar to multi accounting but with a subtle difference. It’s about targeting higher value accounts.
Let’s imagine a Premier League footballer opens a new betting account. The bookmaker in question will initially assume that they are a complete mug and literally a license for them to print money. That has certainly been the case in the past. The player in question maybe such a big loser that the bookmaker will essentially allow them to place any bet that they want (golden account). The dynamic changes somewhat if a hugely successful punter was to cut a deal with said footballer for the use of that account. The successful punter is then able to place bets essentially through the footballers account until the bookmaker cries enough is enough. The difference in bets will probably be quite obvious, quite quickly, but the bookmaker can still get stung for plenty. Essentially the greed of the bookmakers is being used against themselves.
It does open a huge can of worms as it is clearly against a bookmakers vague terms and conditions. It is incredibly tough to prove beyond reasonable doubt though. There is no doubt in my mind the huge uptick we have seen in the last couple of years of bookmakers asking for bank statements relates to them wanting to find payments from third parties into accounts.
As alluded to, the Bet365/McCann case was a great example. McCann placed £25k worth of racing bets that netted her a cool £1m. Bet365 accepted the bets but refused to payout because they didn’t believe she was the brains behind the bets placed. The case went to court and was eventually settled out of court with resolutions unknown. It got messy as Bet365 got Skrill involved to try and prove someone else was funding the bets. It is an incredibly unclear area and one that the bookmakers have been fighting back against. With the aforementioned banking checks and just the ability to hide behind tenuous T&Cs. If they have the slightest excuse to not pay out they will.
The problem with it all of course is that it shouldn’t matter who is placing the bet. After all, you either want to take the bet or you don’t. It shouldn’t matter if its Tony Bloom or Floyd Mayweather. But it does. Where it gets really tricky is where you draw the line with the involvement of someone else on an account. If they are controlling said account and placing all bets/payments then that is simple. If I spoke to a friend and said please can you place this bet for me it gets really tricky. How about if we are all down the pub or on a what’s app group. If we talk about sports (heaven forbid) and someone makes a case for a price being value and bets are placed accordingly. Or if someone followed tipsters. Obviously not their own work. How is someone following a tipster any different to following information from someone very shrewd. It isn’t apart from the expected outcome of said bets. It just very quickly gets very murky. I guess its about who is funding the bet. Bookmakers will try and do as they please.
It was suggested to me recently that Racing Blogger would be the perfect ‘Beard’. In fact it was suggested to me he might be acting as a ‘Beard’. Who knows. No one actually believes he is a pro punter in his own right. As a ‘beard’ though he might be very well suited. In many senses it reminds me of Roland De Wolfe. I have a tough time to believe from the Star Sports interview he is a big winning sports punter in his own right. Does he have some very very good contacts? Undoubtedly. You would not want to take on his bets.
I guess the point is that very high value ‘beards’ become very interesting in the current climate. It appeals far more to have access to a few really big accounts over hundreds of small, normal accounts and all that entails. It does depend on your resources and what types of bets you place.
So if there any Premier League footballers out there or other ‘famous’ sportsman who are being massively taken advantage by the bookies give me a shout. Instead of being ridiculed and taken for a complete mug, get your own back. Just drop me a DM.
ProPunting 