William Hill/Paddy Power

sean8499 · Oct 10, 2004

These 2 outfits are very reputable in their repective markets but does anyone know if they follow the same NFL betting conditions as the offshore Island books? I can open a new account through a Dublin based relative but they may have tax rules that I am not familiar with. (I understand they usually deduct tax from winnings, at least in their bricks and mortar outlets). Please advise if there are other potential risks or regulations that are unique to the UK/Irish landscape

Chase Manhattan issued a warning to me about wire transactions to and from Canbet's London account, so I need to shield myself by enlisting the help of a relative. If anyone can suggest an easier way to fund an online account, without jumping through too many hoops, feel free to respond.

lakerfan · Oct 10, 2004

sean8499 said:
Chase Manhattan issued a warning to me about wire transactions to and from Canbet's London account, so I need to shield myself by enlisting the help of a relative. If anyone can suggest an easier way to fund an online account, without jumping through too many hoops, feel free to respond.

What kind of warning did Chase give you? They didn't like that you were sending to a known bookmaking operation?

sean8499 · Oct 10, 2004

Yes...a compliance officer called and warned that it is company policy not to facilitate online gambling activity. He made it clear that failure to abide with this rule would end my banking relationship.

Not much I can do. A wire is out of the question and either a check or a bank draft will probably set off an alarm during the clearing process.

Another concern is if they reported this to the Treasury as a 'suspicous transaction'?

Halifax · Oct 11, 2004

sean8499 said:
These 2 outfits are very reputable in their repective markets but does anyone know if they follow the same NFL betting conditions as the offshore Island books? I can open a new account through a Dublin based relative but they may have tax rules that I am not familiar with. (I understand they usually deduct tax from winnings, at least in their bricks and mortar outlets). Please advise if there are other potential risks or regulations that are unique to the UK/Irish landscape

Chase Manhattan issued a warning to me about wire transactions to and from Canbet's London account, so I need to shield myself by enlisting the help of a relative. If anyone can suggest an easier way to fund an online account, without jumping through too many hoops, feel free to respond.

They don't deduct taxes on winnings for internet accounts.

WildBill · Oct 11, 2004

Call up the books and tell them your situation. Most of them, although not sure about how UK books do it, will find an easy way around your problem. The books know some banks have these policies so they can have the money sent to an agent or less obviously named entity. Maybe UK regulation requires them to do it this way, but I know books outside the UK will gladly do this to keep your business relationship.

fookineejit · Oct 11, 2004

To be honest I don't think playing at either of these books would be worth the trouble. They have vanilla -110 and -111 lines and rarely offer any value.

Both will limit you if you show a consistent ability to identify value and pick winners. Sending funds through a relative will probably incur currency conversion fees on top of the banking fees.

Pinnacle or another Carribean based book would offer much better options and value IMO.

Glaken · Oct 11, 2004

I had a similar problem a few years ago with my credit union and at Bet365...I called up 365 and spent several minutes on the phone with a manager. I finally ended up sending a cashiers check to them and waiting 10 days until it cleared.

Now with Neteller, it has become a non issue.

I have an account with "BetandWin.com" that goes through my girlfriends Canadian address.

In the end all these UK/European books will work with you...I love them because their customer service is awsome and they are regulated. Most were in business before we were born.

Good Luck, G

peskypup · Oct 11, 2004

There is no tax to pay in the UK. 3 years or so ago the tax was abolished in favour of a tax on the gross profits of the books.

If Hills limit you on line - as they did me after 2 years - then open up a phone account, this is then unlimited for a good while again. Paddy's have never limited me despite taking a lot of profit out of them.

Both books can be slow to react outside of their bread & butter income from fleecing mug UK punters on soccer & horses. Of the 2, Paddy is a little sharper but neither is sharp.

Both are in the top 5 world wide of solid books financially, quoted on the UK main market and with balance sheets awash with cash.

acw · Oct 11, 2004

peskypup,

Do you still often have bets with William Hill?
I have an account with them, but hardly ever look at their prices, since BetFair almost always offers a better price.