Source of wealth

Smurf9

Newbie member
Joined
Sep 15, 2020
Location
Uk
Hello,

I’ve been trying to find the answer to this everywhere but can’t find an answer.
I understand you should never gamble with credit or loans etc. However if you win with money that has come from a personal loan and source of wealth checks are carried out can a casino withhold your winnings because the money isn’t money you earned. Technically the money is yours because you’re now in a credit agreement and will pay this back to the lending company. I was just wondering whether a casino can refuse payment of winnings during SOW checks due to the source of wealth coming from a personal loan. Thanks
 

irish-ranger

Senior Member
MM
Joined
Sep 1, 2018
Location
United Kingdom
Hello,

I’ve been trying to find the answer to this everywhere but can’t find an answer.
I understand you should never gamble with credit or loans etc. However if you win with money that has come from a personal loan and source of wealth checks are carried out can a casino withhold your winnings because the money isn’t money you earned. Technically the money is yours because you’re now in a credit agreement and will pay this back to the lending company. I was just wondering whether a casino can refuse payment of winnings during SOW checks due to the source of wealth coming from a personal loan. Thanks
Where are you located?
 

Davey86

Luck seems to be against the man who depends on it
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their is a couple of casino reps on here that could answer that, if the source of your wealth (a loan) can be considered not very responsible but they would of come across it before
 

Slottery

Senior Member
PABnoaccred
MM
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Location
Malta
They shouldn't as you can show that money is from legit source, that's different if they want to exclude you after that but i really can't find any reasonable reason to confiscate winnings which were gained with loan money.

It's not AML violation but big RG concern if somebody is funding gambling with loans, so with this limited information available, would call it full BS if any casinos threatening to do so.

If there are any other parts of SOW they are not happy or some other parts in this story we don't know, then impossible to say but that as sole reason sounds really not ok. Did that actually happen to you?
 

L&L-Jan

Affiliate Manager for Accredited Casinos
Joined
Jun 15, 2013
Location
Malta
That would end as a RG case, not per se an AML case as for the MLRO it is easy to understand where the funds are coming from.
 

Slottery

Senior Member
PABnoaccred
MM
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Location
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That would end as a RG case, not per se an AML case as for the MLRO it is easy to understand where the funds are coming from.
Maybe if it personal loan from terrorist/criminal group it would be different :) Legit loan is legit money of loaner so like Jan confirmed, concern there is RG that gambling is funded by loan but Source of Funds is really clear when can provide loan agreement and it probably also shows quite clearly in bank statement.
 

Smurf9

Newbie member
Joined
Sep 15, 2020
Location
Uk
Hi guys thanks for the replies. I’m based in UK I have 2 personal loans in my name but not directly used to gamble with. I’m owed £9.8k from two different casinos operating under the same branch(AG COMMUNICATIONS LTD). I have sent like 20 pages of bank statements and haven’t had anything back. All I get from live chat is ‘we are checking these as quickly as possible, these documents Are sensitive and can take longer than usual to check’. But I’ve had over £16,000 of transactions with this casino and other casinos with about £20,000 payout in total including this £9k. I will self exclude after I receive my money as I’d done before. Just want my £9.8k I’m owed :) thanks for all the replies.
 

Smurf9

Newbie member
Joined
Sep 15, 2020
Location
Uk
Oh yeah I’d like to add for more background it’s been 3 weeks today since I sent in all documentation
 

Slottery

Senior Member
PABnoaccred
MM
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Location
Malta
These SOW reviews seem to take unreasonable amount of time from many casinos (like we can see from threads here), if you do get reply you are afraid (which you really shouldn't as money you use is legit and source of it can be seen) and casino don't want to change their mind, i would use PAB service from Casinomeister, here is link you can see how it works (it's completely free and maxd and team take your case review it and try to sort it out with casino to get fair outcome):

PAB

But i honestly believe that they do pay your winnings. Don't know this group at all but good thing is that they do have UKGC license instead of Curacao so they shouldn't be do that dirty tricks. Give them some time (even it takes long, lately we have seen loads of these which been taking for weeks) and if you really don't get anywhere, use PAB service (read rules, most important is that while complaint is in progress, you are not allowed to make any further posts about case which makes Max and team work really annoying and your PAB in danger if you don't let them to do their work). But like said, wait until you get an answer. If you think to self-exclude yourself, you could do it already now or at least you could set yourself £1 loss limit that you can't by any chance lose your money back (many casinos tempt to reverse your withdrawal back to your account even reversing withdrawals is not allowed on players request but if it's pending there very long, some do add it back to your balance).

You really shouldn't have issue due to reason that you have taken personal loans, as long you they can see from your statements that you have had legit source of funds you have played, they have no grounds to confiscate winnings (which they should then report to authorities if they suspect any criminal activities).

So simply, if you can show that you have legit funds to fund amount you have deposited, all should be ok. If you have deposit more than your legit incomes cover, you might be asked more and more proofs where these funds are from, but really hope it's just one of these cases where casino is extreme slow which unfortunately been seen a lot. Make sure you don't play your winnings back under any circumstances and if there are any unreasonable BS that they don't want to pay your winnings only because you have used loaned money, use complaint routes (PAB is free and top notch quality), for now you only can wait that they reply to you, you can contact support there and then just to remind that you exist.
 

Smurf9

Newbie member
Joined
Sep 15, 2020
Location
Uk
Excellent, thanks for the reply, great help! I’ll use them if I don’t get a satisfactory outcome after this long wait :)
 

dunover

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Oh yeah I’d like to add for more background it’s been 3 weeks today since I sent in all documentation
They have to refund any balances if they cannot complete this within 3 weeks to their satisfaction. UKGC says so. They would have to close your account at the same time.
 

Smurf9

Newbie member
Joined
Sep 15, 2020
Location
Uk
They have to refund any balances if they cannot complete this within 3 weeks to their satisfaction. UKGC says so. They would have to close your account at the same time.
Oh that’s good information to have, thanks for the reply. Is there a specific part of their LCCP or where will I find this information so I can back my argument when I contact them?
 

lewisnadasurf

Experienced Member
Joined
Jun 11, 2008
Location
Earth
SOW takes the piss in some cases, why do i need to prove SOW to play some 10p viking runecraft on a £30 deposit.
need to stick to the 1p, 1 line book of dead mate until you can prove SOW I’m afraid.

even when approved, they may let you up to 5 lines. Maybe.
 

dealer wins

Senior Member
Joined
Oct 25, 2006
Location
London the sh$thole
Even the term "source of wealth" is a pisstake. I would expect to receive that as someone with 6 figures playing £100 a spin, not some pleb shoving in £100 once a week and playing 40p spins.
 

09237653

Ueber Meister
Joined
Oct 20, 2010
Location
UK
Yeah If I ever should source some wealth they'll be the first to know, also when they try to blur it with AML (anti money laundering) look casino if I were money laundering I would occasinally make a cashout.
 

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