While it is not mainstream, buying accounts is not uncommon in the sports betting world. The concept involves purchasing an established betting account from someone else for various reasons. But is this allowed, and how does it work?
This article explores the ins and outs of how buying betting accounts works. We’ll cover the following key points:
Down the deep rabbit hole of the internet, you might have encountered certain posts online from people looking to sell or buy betting accounts. It is especially common on social media platforms like Twitter, Reddit, and Instagram. Individuals looking to buy accounts usually go to such marketplaces to connect with sellers. But before you engage in this practice, it is crucial to mention that you will be dealing with unknown people in an unregulated market.
You might wonder why anyone would want to buy sports betting accounts when they could open one for free. Well, there are several reasons for that.
The act is most common among bettors previously restricted, limited, or banned from a betting platform. It’s well in the rights of bookies to limit or suspend a bettor’s account. It may be to slow down someone on a hot streak or curb specific “sharp” betting patterns. After all, they are independent businesses and don’t like losing money.
As a result, buying an existing account is often the only way for these sports betting sharps to continue using the platform. Notably, many professional bettors are always buying accounts. It is because they are usually involved in practices that cause bookies to clamp down on their accounts. Punters may also buy to access loyalty programs and promotions unavailable to new users.
Conversely, people can sell their betting accounts because they need money. For example, bettors with open long-running bets and cannot wait for them to finish can sell to get an early payout. Bettors may decide to sell betting accounts if they are traveling abroad and won’t be able to place wagers with them legally.
The account’s original owner advertises it online if they want to sell. The buyer negotiates terms directly with the seller to ensure a fair transaction.
It’s essential that the seller fully disclose all pertinent details about the account, including its history, balance, and any bonuses or restrictions. It helps the buyer to make an informed decision about the purchase and avoid any potential misunderstandings or disputes. It also helps both parties determine the account’s fair market value and facilitates a mutually beneficial transaction. After finalizing the deal, the buyer will receive the account access details.
Certain sportsbooks have gained popularity among buyers due to their favorable odds, diverse betting options, and reliable platforms. Let’s examine some examples.
bet365 is known for its extensive sports coverage, competitive odds, and attractive bonuses. It offers various betting options and features such as live (in-play) betting. It is, therefore, unsurprising that the platform is a popular choice among account buyers.
Pinnacle is known for offering some of the best odds in the industry, making it a favorite among sharp bettors. They also have high betting limits and a reputation for fairness and transparency.
William Hill is a well-known and established sportsbook with a long history in the industry. They offer competitive odds, making them attractive to sharp bettors looking to buy gambling accounts. William Hill also has a wide range of betting markets and high betting limits, catering to high rollers.
Generally speaking, allowing someone else to place bets using your sports betting account, which is akin to selling it, is not explicitly illegal. However, it is essential to note that most bookmakers prohibit this practice in their T&Cs.
When you sign up at a legal sports betting site, you enter a contract with it. This contract covers the terms governing your account use, including rules regarding ownership. For instance, most sportsbooks ensure each user undergoes the Know Your Customer (KYC) verification process. It ensures the bookie knows who they are dealing with, preventing underage gambling and money laundering cases.
When you sell your betting account, the buyer places bets using your identity. It breaches the KYC agreement you made with the bookie. Therefore, it is safe to say that the selling or buying of accounts is fraudulent in the confines of a bookmaker’s terms and conditions.
Selling and buying betting accounts can be beneficial in some cases. Sharp sports bettors can bypass restrictions while sellers can make money from the accounts they don’t need anymore.
However, the act comes with legal and ethical concerns. First, most bookmakers have policies against the transference of accounts. Also, to crack down on fraud and money laundering, gambling regulations prohibit the activity. Therefore, bettors should consider these risks and concerns before selling or buying a betting account.
